Transcript
A (0:01)
Bitcoin is continuing to trade sideways on the brink of a big move. The question, of course, is whether it's going to be up or down. But all of this happening while we're getting some information that the Clarity act could be closer to finally being passed. But it seems like it's probably clarity for banks, and the crypto industry actually is going to want nothing to do with the final product when it is passed. Good news. We're being gaslit once again, much like the Inflation Reduction Act. It seems like this is just clarity for banks. At the same time, we know that everything is about to be tokenized. We're seeing huge moves from Intercontinental Exchange, nasdaq, New York Stock Exchange towards making everything faster, cheaper, and on blockchain rails. The big question is, will we actually be able to capitalize on that as investors? We're going to unpack this and everything else right now with Andrew Tillman and special guest Marcus Thielen from 10X Research. Let's go.
B (0:57)
Let's go.
A (1:12)
Good morning, everybody. Happy Tuesday and welcome to Space, where we only drink lacroix exclusively because they are my newest sponsor. This delicious lime flavor. I am not sponsored by LaCroix, but I will. It's gonna happen. I'm gonna go ahead and bring on the guests now. We've got Marcus, Andrew and Tillman. Welcome to space, gentlemen. I noticed that neither. None of you are in space.
C (1:34)
No.
A (1:35)
You could have been in space. We gotta get some green screens.
C (1:38)
Yeah.
A (1:39)
Feels like we're all in Space at the moment. To be quite honest, if I read the news every morning, I think I'd rather be on my way to Mars or in Project Hail Mary or whatever the new cool thing is with the kids. All right, let's start. So first of all, let's talk about the market. I haven't even honestly bothered to look because I find it just so boring. But bitcoin, I'm going to guess, is at $71,000. It is $71,023. Marcus, you're looking at this stuff all day. What's going on with the market? Are we just beholden to Trump truths, or is there actually something here that could get us excited?
D (2:13)
No, I think the interesting aspect is really that bitcoin itself has been not volatile at all. Right. We would have expected a lot of downside pressure, but it seems really that the market is hanging in. Everybody who needed to sell has sold. Everybody who, you know, had to sold. Had to sell, you know, was liquidated basically weeks ago. But over the last kind of like two, three weeks and not a lot of stuff has happened. And I think that's kind of like, you know, reflects that, you know, volumes are very low, futures positioning is very low, but volatility keeps on going, you know, up here and there right on these like, you know, news announcements. So I think there's a chance to make money by, you know, selling some puts, selling some calls. Right. We're trading in a range and volatility is still quite high. Right. You know, we saw volatility pumping to like you know, 60, 65% last week. So. And usually we only got 50. Right. So that's kind of like for, I guess more, you know, advanced people to, you know, to really take some money out of the market. But really we have an option expiry that is quite huge on Friday and that's why we have sort of like been pinned around this, you know, 70, 71k here. I think, you know, after Friday we're probably going to see a lot more volatility in bitcoin. But you know, we have to go through the expiry and then we see where we're going to be.
