OM DENNE EPISODE
Bitcoin’s implied volatility just hit a nine-month low. ETF outflows have been running for weeks. And a memory chip ETF may have matched IBIT for the fastest ETF launch in history. So what’s happening to crypto?
Steve Sosnick, chief strategist at Interactive Brokers, and Steve Ehrlich break down the structural forces working against crypto right now: AI stocks doing the heavy lifting in portfolios, upcoming SpaceX, OpenAI, and Anthropic IPOs pulling momentum capital, Kraken and Ledger delaying their own listings, and the ‘crypto tourist’ problem — ETF buyers who bought on momentum and will sell on momentum the moment something else outperforms.
Is this a cleansing moment, or is crypto just one sector now?
Guests: Steve Sosnick, Chief Strategist at Interactive Brokers. Host: Steve Ehrlich, Head of Research at SharpLink.
This clip is from a longer conversation. Full episode here: https://youtube.com/live/H31JcAM0evI
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