According to @Andre_Dragosch, the Counterpoint Team at BCA Research noted that the fractal dimension of BTC/Gold performance has collapsed, which they said signals an imminent reversal. According to @Andre_Dragosch, the collapse in fractal dimension typically indicates rising herding and excessive one-sided positioning among investors, implying elevated reversal risk in the BTC/Gold cross.

According to The Kobeissi Letter, the US CapEx intentions indicator fell to -1.5 points in April, the lowest level since 2020, as reported by BCA Research. The indicator, which aggregates data from the NFIB small business survey and various Fed regional surveys, signals a significant decline in business investment expectations. Historically, such a low reading has preceded periods of reduced economic activity, which could influence trading strategies in both equity and cryptocurrency markets by increasing risk-off sentiment and volatility. Source: The Kobeissi Letter on Twitter, April 29, 2025.

According to The Kobeissi Letter, the US CapEx intentions indicator fell to -1.5 points in April, marking its lowest level since 2020, as reported by BCA Research. This indicator, which draws on CapEx expectations from the NFIB small business survey and various Fed regional surveys, signals a notable slowdown in business investment. Historically, such a sharp decline has preceded periods of reduced economic activity, often leading to increased market volatility and risk-off sentiment in both equity and crypto markets (source: The Kobeissi Letter, April 29, 2025). Traders should monitor potential impacts on S&P 500 futures and major cryptocurrencies such as Bitcoin, as lower CapEx could influence liquidity and risk tolerance across risk assets.