Watch out for 'Post Buffet Sentiment' (the latest n' greatest market indicator)

Right, so get this:

A survey run by JP Morgan recently found that 72% of institutional investors (aka 'big money') have no plans to invest into crypto in 2023.

On one hand, it's a bit of a bummer - because the sort of money they're working with can really move markets.

On the other, it's not the end of the world - crypto will be just fine without them for the next 12 months.

But why the cold feet? Crypto has been on a tear this past month!

Look, we could throw around impressive sounding terms like 'macroeconomic headwinds,' or 'quantitative tightening'...

But where's the fun in that?

Instead, we're going to point to an economic indicator that we just made up.

We're calling it the 'Post Buffet Sentiment.'

Not 'Buffett,' like Warren Buffett. Buffet, like 'all you can eat.'

Think of the crypto markets as exactly that: an all you can eat buffet.

The bull run = 'pre-meal.'

You go in with eyes bigger than your stomach, piling your plate (wallets) full of food (crypto), before running back to your table (Twitter feed), all giddy and anxious.

The bear market = 'post meal.'

You curse yourself for getting lost in all the excitement and overeating (over allocating) - claiming you don't even want to think about eating (investing) again, for at least another year.

The Post Buffet Sentiment is punctuated in JP Morgan's survey of institutional investors.

Which translates, roughly, to this:

'We've ruined our appetite, you might need to give us a minute.'