Making Markets
David Kalk: Crypto's New Regime - [Making Markets, EP.15]
Feb 2, 2024
David Kalk, former Macro Fund Manager and CIO of Reflexive Capital, discusses the current state of the crypto market including reflexivity, evaluating new tokens, Solana's resurgence, and the Bitcoin ETF. The podcast explores the concept of reflexivity in the crypto market, the structure of the Reflexive Capital fund, the ongoing regime transition in crypto trading, the impact of a Bitcoin ETF, the need for institutional investors in crypto, and the perspective of venture capitalists in the market.
50:45
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Quick takeaways
- The current rally in crypto is viewed as limited but still an important psychological boost for the market, highlighting the volatility and reflexivity of the crypto market.
- Reflexivity is a crucial concept in the crypto market, influencing market dynamics and leading to significant opportunities and risks.
Deep dives
The Current Rally in Crypto
The current rally in crypto is viewed as limited for now, with some reasons to be skeptical. However, it is seen as an important psychological boost for the market and a sign of where we are in the process. While the rally may have its limitations, there are certain assets that are expected to maintain higher prices compared to three months ago. The rally also highlights the volatility and reflexivity of the crypto market, emphasizing the need for active and strategic approaches to trading.
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