The Crypto Rundown 301: White Walkers and The Shadows

Is Winter Coming? Bitcoin has pulled back $4,000 post-FOMC, leading to a highly divided audience poll on whether to buy the dip or prepare for more downside.

Vol Skew Analysis: The volatility surface has fundamentally reshaped since the summer, with long-dated Put Skew (puts more expensive than calls) priced in all the way out to 180 days. Greg explains how this positioning suggests IBIT holders are well-hedged.

Critical Inflection Point: Analysis of Gamma Exposure profiles pinpoints the $85,000 strike as the key downside level for dealers, separating consolidation from a major crash risk.

Understanding Shadow Term Structure: Greg explains this cool Amberdata tool, which acts as a time-lapse for volatility, allowing traders to compare current term structure to historical trends.

Hottest Crypto Options: Dissection of trades in IBIT (Bitcoin ETF) and the highly speculative MSTU (leveraged MicroStrategy). Learn why the MSTU upside is a favorite sell for premium collectors.

Altcoin Universe: Analysis of Ethereum (ETH) falling below $3,000, Solana (SOL) (SOL) at $125, and their relative volatility against each other.

Trading Strategy: Greg explains why he prefers to sell long-term puts on assets like Circle (C) to finance long-term call spreads, capturing high Vega exposure before expected volatility repricing.