According to @KobeissiLetter, institutional investors bought US equities in 60% of S&P 500 declines of at least -1% this year, source: @KobeissiLetter. This is the first time since 2019 that institutional participation exceeded 50%, source: @KobeissiLetter. Institutional investors have been dip buyers in just 5 of the last 18 years, source: @KobeissiLetter. Retail investors bought the dip each week this year after the S&P 500 fell more than -1%, marking the sixth consecutive year with their percentage above 50, source: @KobeissiLetter. Hedge funds have not exceeded the 50% mark since 2019, source: @KobeissiLetter.

According to @CryptoMichNL, valuing assets against the Dollar is not meaningful. Instead, assets should be compared against each other. In this context, Bitcoin has not achieved a new all-time high value against the Nasdaq and remains 37% below its ATH. Its current price action is similar to that of 2019.