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Investors Pile on the Risk

February was a standout month for BTC and risk-on assets broadly.

Jack Inabinet
Mar 1, 2024 • 2 min read

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Crypto tokens remain in pursuit of all-time highs while TradFi indices set new ones! The Risk Rally continues, but how long can it last?

The S&P 500 (SPX), an index of the 500 largest stocks trading on US exchanges, has now closed out 16 of its last 18 weeks green, with the near uninterrupted 25% bull run since late October providing strong confirmation for the broader market’s risk-on appetite.

While the rally has certainly impressed, the weekly SPX RSI indicator currently reads 76. The last time RSI reached such overextended levels on a weekly basis was just prior to the COVID crash in early 2020.

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.