Remy Blaire is joined by Alex Blume, the CEO of Two Prime, who shares his insights into whether Bitcoin is near a bottom. With implied volatility spiking, funding rates turning sharply negative, and widespread liquidations flushing leverage from the system, some indicators suggest a potential local bottom. Historically, Bitcoin has endured deeper drawdowns — but each cycle has shown signs of maturation, with institutions cautiously stepping back in and “putting a toe in the water.”
They also explore the risks of short-term options strategies that can generate steady monthly income — until sudden 20–30% moves erase years of gains. As ETF options expand the size of the derivatives market, volatility remains a key feature, even as institutional participation grows.
Finally, they examine Bitcoin’s evolving identity: speculative asset or emerging reserve asset? As the market matures, large institutional holders are shifting toward lower-risk strategies targeting 5–7% annualized Bitcoin-denominated returns, prioritizing long-term compounding over high-volatility swings.
As traditional equity markets prepare to open, we break down what this next phase means for Bitcoin, institutional adoption, and the broader crypto landscape.
