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Bell Curve

Can Crypto Survive a Recession? | Roundup

Aug 3, 2024
Myles O’Neil is a cryptocurrency expert who dives deep into the rapidly changing market landscape. He discusses a recent governance attack on Compound Finance and the implications of Ethereum ETF trading. The conversation turns to the political dimensions of crypto, exploring whether it has become a bipartisan issue. Myles also addresses governance challenges in decentralized organizations and debates strategies for token unlocks. Finally, he speculates on potential economic recession signals and their impact on cryptocurrency.
01:01:47

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Quick takeaways

  • The correlation between ETF flows and Bitcoin highlights BlackRock's significant market influence and the potential success of cryptocurrency ETFs.
  • Trump's engagement with the Bitcoin community suggests a shifting political landscape that could reshape market dynamics and influence regulatory approaches.

Deep dives

ETF and Bitcoin Flow Trends

The relationship between ETF flows and Bitcoin is highlighted, with predictions that they will trend closely together. Notably, BlackRock has been a significant driver of inflows, reporting figures of approximately 170 for Bitcoin and 97 for Ethereum, thus cementing its influence in the market. This correlation is expected to bolster the overall success of ETFs, which have proven successful so far. The role of Grayscale's outflows is essential as well, as they impact overall market sentiment even as mini trusts help absorb some market flow.

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