Markets Outlook

As the crypto markets teeter on the edge, 10x Research founder, Markus Thielen, joined Consensus Live at Consensus Hong Kong to deliver a sobering reality check on bitcoin’s trajectory. Thielen explains why the recent volatility isn't just a temporary dip but the potential start of a deeper trend driven by institutional redemptions and a massive liquidity gap. He breaks down the technical "liquidity trap" that caught traders off guard following the 2024 election and explains how negative option gamma forced market makers into a selling frenzy.

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This episode was hosted live by Sam Ewen and Will Foxley at Consensus Hong Kong 2026, presented by Hex Trust.

SkyBridge Capital Founder Anthony Scaramucci joins Jennifer Sanasie and Will Foxley to diagnose the current bear market and the "Trump coin" liquidity drain. Scaramucci reveals why 60-year-old money managers are currently choosing gold over Bitcoin, compares the banking lobby to the dying taxi industry, and explains why he’s doubling down on his $150,000 year-end price target despite the current fear index hitting a record low.

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This episode was hosted live by Jennifer Sanasie and Will Foxley at Consensus Hong Kong 2026, presented by Hex Trust.

Moving Wall Street on-chain with Ondo Finance President Ian De Bode.

Ondo Finance President Ian De Bode joins Jennifer Sanasie and Andy Baehr on CoinDesk Live at the Ondo Summit to discuss the firm's ascent to more than $2 billion in TVL and its roadmap for 2026.

De Bode explains how Ondo is moving beyond simple asset issuance to build a comprehensive on-chain prime brokerage. A key pillar of this strategy is the launch of Ondo Perps, a platform that allows users to trade perpetual futures on equities and commodities using their tokenized spot assets as collateral.

By bridging the gap between TradFi and DeFi, Ondo is turning crypto wallets into a place where global investors can access, hedge, and leverage 200+ tokenized stocks and ETFs 24/7.

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Timecodes:

01:07 - Ondo Finance 2025 Milestones and Looking Ahead02:28 - The "Land Grab" in Tokenization04:10 - Solving the Retail Demand for 24/7 Stocks06:15 - Why Ondo Perps Is the Big Play for 202607:58 - Will Investors Still Use Centralized Exchanges and Perps?

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This episode was hosted by Jennifer Sanasie and Andy Baehr.

Unpacking ETF investor reaction in the market downturn with Bloomberg Intelligence's Eric Balchunas.

Bloomberg Intelligence Senior ETF Analyst, Eric Balchunas joins CoinDesk's Jennifer Sanasie to discuss why ETF investors are staying remarkable steady while the rest of the market panics. He breaks down the "irony" of ETF boomers showing stronger diamond hands than crypto natives by treating bitcoin as a "hot sauce" allocation within diversified portfolios. Watch to learn how bitcoin’s volatility compares to the 22-year history of Gold ETFs and why this drawdown might just be another cycle for the asset class.

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Timecodes:

00:56 - The Volatility Cost of "Holy Grail" Returns02:33 - The Resilience of "ETF Boomers"04:09 - What's the Future Hold for ETF Holders?06:22 - Bitcoin = "Teenager Gold"09:06 - The "Hot Sauce" Portfolio Allocation13:00 - Performance of Altcoin ETFs (XRP & SOL)14:59 - The Future of Ethereum & Layer 2s

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This episode was hosted by Jennifer Sanasie.

Live from the Ondo Summit in NYC, Pantera Capital Founder, Dan Morehead joins Jennifer Sanasie and Sam Ewen for a special Markets Outlook to explain why he’s more bullish now than when he launched the first US crypto fund in 2013. Morehead revisits his "freaky" prediction that saw Bitcoin peak on the exact day he forecast years prior and outlines the path to a $750,000 price target. He breaks down the recent IPO wave and why the next 18 months will be defined by a massive consolidation of Digital Asset Treasuries.

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Timecodes:

1:15 - Morehead’s Rule for Holding Through a "Sea of Red"3:36 - What to Do When Your Portfolio is Underwater4:23 - The Path to $750K Bitcoin5:15 - How the Crypto IPO Wave Returns Billions to the Ecosystem6:08 - Pantera’s 86% Success Rate Over 12 Years of Investing7:27 - The Great DAT Consolidation10:01 - Why This Is Just the Beginning for Institutional Adoption

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This episode was hosted by Jennifer Sanasie and Sam Ewen.