Ram is bearish on equities, oil is keeping the Fed frozen, and Bitcoin is holding up anyway. The hosts debate whether crypto has bottomed or whether worse is still ahead.
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Three weeks into the Iran conflict, oil is keeping inflation elevated, rate cuts are getting pushed out, and hedge funds are being forced to sell good names just to reduce exposure. So why is Bitcoin holding up?
Ram sees a market on the right shoulder of a bubble, with industrials like Caterpillar at 35x earnings and no real capitulation yet in equities or private credit. Chris is watching trading desks pick up the “short-gold, long-Bitcoin” trade, and sees Ethereum's fundamentals quietly strengthening. Austin wants to know what happens to DeFi the day a major stablecoin gets compromised on a censorship-resistant chain with no network-level controls.
And all three are asking the same question investors need answered now: does the Iran conflict end fast enough to stop oil from triggering a true inflationary regime, or is a harder correction still ahead?
Hosts:
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