The US recession predicted for 2023 has not yet emerged, with the NASDAQ reaching a 52-week high on July 12. Some experts believe continued inflation and a coming recession means markets will continue to trend upward. Federal Reserve interest rate hikes to address inflation have not addressed the root cause, which lies in increased federal debt. While bonds have sold off again, raising yields to near 2022 highs, risk assets such as tech stocks are soaring. Concerted efforts in the blockchain sector could lead to cryptoassets being a safe haven from struggling traditional markets. However, the current trend could still change direction, with growing uncertainty surrounding the possibility of a spot bitcoin exchange-traded fund on the horizon.