According to Michaël van de Poppe (@CryptoMichNL), markets dipped when Jerome Powell spoke with a hawkish tone, but within hours Bitcoin BTC rebounded, altcoins outperformed as the OTHERS/BTC ratio rose, gold declined, and the Nasdaq moved higher, signaling renewed risk appetite, source: Michaël van de Poppe (@CryptoMichNL), X, Oct 29, 2025. He highlights gold’s continued roughly 10% drawdown as the prime indicator suggesting the business cycle is progressing into a phase that favors risk-on assets, source: Michaël van de Poppe (@CryptoMichNL), X, Oct 29, 2025. He concludes crypto should benefit the most from this rotation, with altcoins showing relative strength versus BTC, source: Michaël van de Poppe (@CryptoMichNL), X, Oct 29, 2025.