# Market tops

By [m78cs4](https://paragraph.com/@m78cs4) · 2022-07-22

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Market tops almost always coincide with peak retail mania By most retail indicators we should have topped May 2021 What should have been a dead cat bounce resulted in new ATHs in Q4 2022 In hindsight, likely driven by hidden institutional leverage (3AC, Celsius, Babel, etc)

![](https://storage.googleapis.com/papyrus_images/23ea300116e55f3febc1047d009440aa9553a7a07e6fcb507de4ea486c05a756.png)

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*Originally published on [m78cs4](https://paragraph.com/@m78cs4/market-tops)*