CoinDesk Podcast Network Will Sovereign Investment Be the Game Changing Catalyst for Bitcoin? | Markets Daily
Jul 3, 2025
In this discussion, Greg Magadini, Director of Derivatives at Amberdata, shares his expertise on Bitcoin’s evolving market landscape. He unpacks the reasons behind Bitcoin's reduced volatility and how it now requires more capital to influence price movements. Greg also highlights the shifting dynamics from retail to institutional investments, and how sovereign investments could serve as a game-changing catalyst for Bitcoin. Lastly, he touches on the significant impacts of derivatives on market liquidity and stability.
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Bitcoin Volatility Declines With Maturity
- Bitcoin's volatility declines as the asset matures and its market cap grows.
- More money is required to move Bitcoin at a $2 trillion market cap compared to $300 billion.
Sovereign Investment Could Disrupt Market
- Sovereign or central bank investment in Bitcoin could trigger a dramatic price surge.
- There's concern about liquidity and if enough Bitcoin supply exists to meet a large buying surge.
Current Options Flow and Price Outlook
- Dealers are currently long gamma on Bitcoin options, anticipating persistent lower volatility.
- Lower volatility alongside bullish price action may set the stage for a squeeze above all-time highs.