The Practical Islamic Finance Podcast · Rakaan Kayali

A Bumpy Road Higher ⬆️

·28 min·2 clips

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The host opens on a bumpy week since Friday. He frames the live around the new ADP payroll data, a rebound in the major indices, and the question of whether the liquidity picture and his crypto outlook have changed. The message stays consistent. He tells listeners that when the market gets ugly, his instinct is usually to push patience over panic selling, and he repeats that point as he walks through the tape. The Russell, Dow, and S&P all show green on the day. He notes that the market is still below all-time highs, but not far from them, so the drawdown looks rougher than the longer trend may deserve. Liquidity remains central. He argues that liquidity is still rising and set to rise for the next few months, which he sees as a tailwind for the market. Fear is the signal. He points to the fear-and-greed index near extreme fear and says those levels have historically lined up with local bottoms in Bitcoin and the broader crypto market. Bitcoin sits at 99,000. He describes that price as a 50% retrace from the move between 78 and 128,000 and says ETF flows are still intact. He does not see a collapse. He cites the 200-week simple moving average near 62,000, but says he does not think Bitcoin needs to go there and thinks the worst of the recent volatility may already be behind it. Chop is possible. He allows for a week or two of sideways trading, unless an exogenous event throws everything off, before he expects crypto to start appreciating again. The macro lens stays broad. He briefly waves away an unrelated RoboTaxi headline, then returns to the larger market setup and the next few months. Solana gets a careful answer. He calls it a good long-term technology bet rather than a great one, warns that technology can be replaced, says it should move with the Nasdaq, and closes by reminding members about Discord and the monthly and twice-monthly meetings for premium and elite members.

As heard by us

A measured market update that frames the pullback as chop rather than collapse.

The piece reads as a calm market note after the latest ADP payroll print, treating the rough session as part of a larger case for staying patient.

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Why you'd press play

You want a calm read when the tape is loud and Bitcoin has retraced hard.

Read the full recommendation in PlayNext →

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