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Patrick Dunuwila

Chart of the Day - Friday, September 12, 2025

September 12, 2025

🏆 Today's Chart of the Day was shared by @DualityResearch.
 
  • While seemingly unrelated, Small Caps ($IWM) and Ethereum ($ETH) have generally moved in tandem since the pandemic. Both are currently pressed against their 2021 peaks, on the cusp of all-time highs. 
     
  • Their “safer” counterparts, Large Caps and Bitcoin, kicked off the bull market over a year ago by reclaiming their 2021 peaks in 2023 and 2024, respectively.
     
  • As the market cycle matures, it's natural to see rotation down the risk spectrum, and we should see capital flow toward higher beta alternatives like Small Caps, Ethereum, and even Silver. 
     

The Takeaway: Large Caps and Bitcoin started the party more than a year ago, but their higher-beta alternatives have finally arrived. Small Caps and Ethereum are knocking at the door and ready to join the party.

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