
The Pomp Podcast Is Bitcoin In A Bear Market? | Anthony Pompliano
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Feb 2, 2026 A tight look at whether Bitcoin is in a bear market, exploring how halving cycles and a volatility drop change drawdown expectations. The impact of Wall Street tools, ETFs, and options on price dynamics gets unpacked. Discussions cover miner hash rate shifts, potential forced-selling risks from lending and treasuries, and why gold can rally while Bitcoin lags.
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Bear Market With Lower Volatility
- Bitcoin is likely in a bear market even if the drawdown is smaller than past cycles due to lower volatility.
- Reduced volatility (from ~80% to ~40%) implies shallower booms and busts, not the old 80% crashes.
Wall Street Is Taming Volatility
- Financialization via ETFs and structured products is tempering Bitcoin's volatility.
- New Wall Street strategies let managers extract fees and add hedging tools that reduce price swings.
Price Moves Ahead Of Macroeconomics
- Markets price forward: Bitcoin rose before inflation arrived and now prices reflect lower inflation risk.
- The shift from inflation fears to deflation expectations explains part of the recent sell-off.
