Markets: a rhythm shift?
“If something cannot go on forever, it will stop.” – Herbert Stein ||
Hello everyone! I hope you’re all taking care of yourselves.
👀 You’re reading Crypto is Macro Now, which covers the role crypto is playing in the changing plates of finance, economics, politics, culture and markets. 👀
Production note: this newsletter will skip production tomorrow, Friday, but I will publish the free weekly on Saturday. 🏖
PUBLISHED IN PARTNERSHIP WITH: ✨ ALLIUM ✨
Kalshi puts the odds of a rise at the September meeting at 50%, against 3% for a cut and 49% for no change. Polymarket puts a rise sometime in 2026 at 68%. What would this mean for Circle?
→ Download the report: https://www.allium.so/reports/circle-q2-2026-usdc-revenue
And get weekly onchain data and analysis like this from the Allium Research team on Substack.
IN THIS NEWSLETTER
Markets: a rhythm shift?
Term of the day: earnings revision breadth
Crypto is Macro Now offers ~daily commentary and updates on the overlap between the crypto and macro landscapes. Plus links and more.
If you’re a premium subscriber, thank you so much!! You are appreciated. ❤
WHAT I’M WATCHING:
Markets: a shift in the rhythm?
I’m treating myself to a meander through markets today – these tend to get pushed aside in my focus on “interregnums”, but I do enjoy touching base with narratives and charts from time to time.
As we surf through the midpoint of summer, it is increasingly feeling like markets are also reaching an inflection of some sort. Just like the ideal wave, inflections can take a while – but they set the stage for what’s ahead.
