Bits + Bips: Why It's Time for Crypto Traders to Be Patient - Ep. 782

17 snips

Feb 12, 2025

Sal Ternullo, Managing Partner at A100x Ventures, offers keen insights into the volatile crypto landscape. He discusses the complexities surrounding Ethereum’s potential short squeeze and examines the real implications of SOL's unlocks. Ternullo believes the fear related to SOL unlocks is overstated and advocates for a shift away from memecoins. The conversation dives into market misinterpretations of altcoin performance and the Growth Value Ratio’s insights, as well as the effects of macroeconomic factors like Trump’s tariffs on crypto trading.

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INSIGHT

Ethereum's Vulnerability

Ethereum gets hit hard during risk-off events due to over-ownership and poor fundamentals.
Its extensive use as collateral in DeFi makes it prone to liquidations.

INSIGHT

Crypto Market Sentiment

Current market sentiment is mild compared to previous cycles, despite some tokens being down significantly.
Money entering through ETFs, like Bitcoin and Ethereum ETFs, may not flow into altcoins as it has in the past.

ADVICE

Solana and Memecoins

Solana's unlocks might be overplayed; long-term vested interests should absorb them.
Focus on fundamental projects with real-world value, not meme coins.

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Crypto markets are at a crossroads. Is Ethereum primed for a short squeeze, or is its dominance fading? Are the SOL unlocks a real risk, or is the panic overblown? And did we already have an alt season without realizing it?

In this episode, hosts James Seyffart, Alex Kruger and Ram Ahluwalia sit down with Sal Ternullo, managing partner at A100x Ventures, to break down the biggest questions facing traders today. They discuss whether Trump’s tariffs are impacting ETH, why the market might be misreading SOL’s unlocks, and how traders keep falling into the same traps—losing money despite crypto’s explosive gains.

They also debate the real reason altcoins haven’t performed as expected, why memecoins might finally be dying off, and what the Growth Value Ratio reveals about the market’s future. Plus: the implications of Elon Musk’s bid for OpenAI, and whether Arweave’s AO can seriously challenge ICP.

Show highlights:

3:33 - Why Ram likes what Trump is trying to accomplish with the tariffs
10:35 - Why ETH got hit so hard with the tariffs and whether there’s a squeeze coming
15:24 - Whether the market will see an alt season
21:47 - Why Sal believes that the SOL unlocks are not a big deal and why he’d like to see a shift away from memecoins
25:09 - Why Ram thinks that crypto markets don’t have a clear narrative in the near future
27:28 - Why Alex is concerned about the SOL unlocks
32:19 - What the growth value ratio is teaching us about the state of the markets
40:59 - How the potential Kanye West memecoins is another example of why Sal doesn’t like this space
46:39 - Whether Arweave’s new project AO can compete with ICP
48:04 - How Elon Musk is running so many projects, plus bidding for OpenAI
55:26 - James’ analysis on the likelihood of various crypto ETFs being approved
1:03:01 - Why Alex thinks this is the perfect time to “be patient” in the markets

Sponsor:

Hosts:

James Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Ram Ahluwalia, CFA, CEO and Founder of Lumida

Guest:

Sal Ternullo, Managing Partner at A100x Ventures

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