# Momentum is Waning

_As macro risks are rising_

May 13, 2026 • Michael Nadeau

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# Momentum is Waning

## As macro risks are rising

Michael Nadeau
 May 13, 2026

 Hello readers,

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 Back to business.

 The fear & greed index is back into neutral territory. BTC closed last week *above* its short-term holder cost basis. And altcoins are showing some signs of life.

 But does the underlying market structure point to further strength?

 We explore in this week’s edition of TDR Pro.

 Topics covered:

- [“Cycle Awareness” Update](#cycle-awareness-update)

- [Market Structure Update](#market-structure-update)

- [Closing Thoughts & Portfolio Management](#closing-thoughts-portfolio-manageme)

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 Let’s go.

# “Cycle Awareness” Update

## TDR Pro

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