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Back on June 9 I laid out the rotation from tech into financials and said it would bring the next major wave of capital into crypto.
That’s no longer a forecast. It’s happening. Over the last month Financials have been one of the best performing sectors while tech has entered a technical bear market.
Pull up the XLF and you’ll see the exact same story as crypto — a long base, coiled, starting to turn. That’s not a coincidence.
Crypto isn’t a software stock and it never was. It’s primarily financial technology in its current form, and it moves with the financial sector, not the Nasdaq.
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