Opinion: This cycle’s crypto market may peak before U.S. equities—and Bitcoin could bottom out ahead of the stock market.

On October 31, crypto trader Ansem posted that the cryptocurrency market may have already peaked ahead of U.S. equities in this cycle. He cautioned that if the recent rally is merely a countertrend correction—and U.S. equities are only now entering a deeper correction—crypto assets still face renewed downside risk. Ansem emphasized that risk appetite in this cycle remains highly dependent on AI-related sentiment and U.S. equity performance, making a timing mismatch between crypto and traditional markets’ peaks a realistic possibility. However, he stopped short of declaring this scenario inevitable, opting instead to keep his assessment open and focus on how both asset classes actually behave as they approach key price levels. Additionally, he outlined a potential scenario: even if crypto and U.S. equities weaken in tandem over the near term, Bitcoin could still bottom out earlier than the broader equity market.