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DISCUSSED IN TODAY'S VIDEO:Crypto weakness today looks like pre–Jackson Hole de-risking, not a broader breakdown.Continuing claims hitting a new cycle high, bringing the employment side of the Fed's dual mandate back into focus.Powell is expected to sound hawkish, but relative to expectations, his tone could skew net dovish.ETH withdrawal queue (~900k ETH) is mostly Aave unwind + stETH arbitrage, not a looming sell wall. TICKERS IN THIS...

DISCUSSED IN TODAY'S VIDEO:Coinbase-Binance spread flipped to discount, signaling strong U.S. spot selling. Markets expect Powell to lean hawkish Friday despite Fed Funds futures still implying a September cut. Much of this weakness looks like it's getting priced in ahead of time.Today’s tech-led sell-off hit momentum strategies hard, with Bitcoin likely caught in the crossfire. Still, the VIX and high-yield credit remain steady, pointing more to profit-taking than panic.Option skews...

DISCUSSED IN TODAY'S VIDEO:Powell’s Jackson Hole speech on Friday is major market-moving event this week. We expect some volatility into and around this event, but dips remain buyable given the broader constructive setup.Small-cap/S&P ratio has strengthened, consistent with a weak-dollar backdrop. ETHBTC stalled at long-term resistance but remains well-positioned medium term.AERO continues to deliver ~$200M in annualized revenue with token-holder–friendly design. Current ~11.5x fee multiple is still attractive relative to...

DISCUSSED IN TODAY'S VIDEO:FED GOVERNOR NEWS DRIVES MARKETS – Morning reports of Chris Waller in the running gave way to confirmation that Trump plans to nominate Stephen Miran, chair of the Council of Economic Advisors.BEARISH DOLLAR – Miran advocates using tariffs and a weaker dollar to correct trade imbalances and has outlined coordinated Fed and Treasury measures to push the dollar lower.MARKET REACTION – The DXY dropped sharply on the news while BTC...

DISCUSSED IN TODAY'S VIDEO: A weaker-than-expected Services PMI sparked an initial sell-off, but high-yield credit rallied, Treasuries remained under pressure, and small caps outperformed. ETH’s relative strength has diverged from small-cap performance in recent weeks, driven by growing interest in stablecoins and tokenization, along with steady demand from ETH-focused digital asset treasury (DAT) companies. DATs collectively hold approximately $7 billion in ETH and currently trade at around 1.4x NAV. At current premium levels, estimated...

DISCUSSED IN TODAY'S VIDEO:NEAR-TERM RISKS: possible Fed "mistake", upcoming TGA refill that may drain liquidity, unfavorable August–September seasonality, and capital flows turning negative.CUT ODDS RISE: Friday’s weak NFP and Fed Governor Adriana Kugler’s resignation meaningfully increased the probability of a September rate cut.MEDIUM-TERM OPPORTUNITY: A rate cut into a slowing but growing economy, steady unemployment, and above-target inflation is a bullish mix for crypto.PRICE ACTION CHECK: Monday’s rebound was encouraging....

DISCUSSED IN TODAY'S VIDEO:QRA: No hawkish or dovish surprises. Treasury will maintain coupon auction sizes, favor bill issuance, and double the frequency of long-end buybacks. The TBAC also flagged stablecoins as a potential new demand source for T-bills.FOMC: Powell struck a hawkish tone, but markets may look through it. Two dovish dissents and the June–March SOFR spread suggest expectations are shifting post-Powell and reinforce the fiscal dominance theme.PRESIDENT’S WORKING GROUP: Light on Strategic...

Discussed in today's video:MARKET IN WAIT-AND-SEE MODE: Crypto drifted modestly lower today, but not in a way that suggests meaningful weakness. Investors appear to be sidelined ahead of tomorrow’s key macro events.POSITIONING LOOKS CLEAN: Funding has reset and leverage remains contained. Structurally, the market is well-balanced.TRADE NARRATIVE TURNING SUPPORTIVE: The U.S.-EU trade deal and possible tariff deadline extensions, especially with China, point to de-escalation and improved risk sentiment.STILL LEANING BULLISH...

Discussed in today's video:BTC SUPPLY OVERHANG ABSORBED: The market digested 80,000 BTC from a Satoshi-era whale, removing a key short-term headwind and confirming strong demand at current levels.CONSTRUCTIVE PRICE RESPONSE: BTC rebounded from 115k to 120k following Galaxy’s sales, mirroring the reaction to the initial tranche.QRA REVEALS $1 TRILLION IN Q3 BORROWING: Treasury plans an aggressive TGA rebuild, which could hamper liquidity conditions, with the relative severity depending upon issuance...

Discussed in today's video:VIX, MOVE, and high-yield spreads are all back to levels last seen in February. While some may read this as a sign of complacency, we think it more likely reflects a supportive backdrop for continuation.We remain constructive on ETH and SOL, but ideally would like to see BTC dominance form a local low and BTC make another leg higher in the near term.Leverage is building, but funding rates and Aave...

Discussed in today's video:BTC enters a seasonally weak period from mid-August to September.But liquidity conditions remain favorable, as Treasury has not yet begun replenishing the TGA and the dollar has continued its decline, both of which support BTC strength.SOL is attracting institutional flows, with over $1 billion in CME futures volume, elevated open interest, and a high basis, suggesting some capital rotation to SOL. TICKERS IN THIS...