The crypto markets are in the midst of absolute madness, and this episode of The Crypto Rundown breaks down every twist and turn of this high-stakes soap opera. Host Mark Longo is joined by Bill Ulivieri of Cenacle Capital Management to dissect a week that saw Bitcoin plunge to $60K only to stage a dramatic turnaround.

In this episode, we dive deep into the "MSTR Effect"—has MicroStrategy officially stolen the throne from Coinbase as the crypto market's primary bellwether? We explore the massive volatility spikes, the impact of "vibe coding" on market analysis, and the surprising resilience of the IBIT ETF during a period of intense capitulation.

In This Episode:

• Bitcoin Breakdown: Analyzing the 10,000-point swing from $60K back to $75K and the "widows and orphans" state of BTC volatility compared to equity proxies.

• The MSTR Drama: A look at Michael Saylor's relentless buying and why MicroStrategy might be the "amplified" crypto play of the decade.

• Altcoin Universe: Why Ethereum (ETH) found a "perfect trend line" at $1,700 and why Bill is eyeing the Canton Network (CC) as a hidden institutional gem.

• 0DTE in IBIT: How the addition of intra-week expirations is changing the game for premium harvesters.

• Circle (CRCL) & Beyond: Analyzing the wreckage in Solana, XRP, and Doge, and finding the deals hidden in the firestorm.

As Bitcoin slides back toward the $78,000 level and Ethereum feels the pressure, the "H" word is back on everyone's mind: Hedging. Is the crypto market finally cooling off, or is this the ultimate "blood in the water" opportunity for savvy institutional players?

In this episode, Mark Longo is joined by Pat Wood, President and CEO of Delphix Capital Markets, to discuss the shift from all-time highs to a 37% correction. They dive deep into the mechanics of downside protection, the rise of institutional-grade hedging products, and why traditional finance (TradFi) structures are becoming the new "platinum standard" for digital assets.

• The Bitcoin Breakdown: Analyzing the drop from $88K to $78K. What does the surge in weekly volatility (from 39 to 49) tell us about the next move?

• Institutional Hedging 101: Why no one wants to buy a hedge at $126K, and why everyone is scrambling for it now.

• Collars & Put Obligations: Exploring bespoke structures for treasuries and funds that protect capital without cannibalizing yield.

• The Altcoin Universe: Ethereum breaks below the psychological $2,500 level—is it time for ETH holders to look at downside protection? Plus, updates on Solana, XRP, and the "Circle" sell-off.

• The Digital Showdown: A flash poll result: Which asset hits par ($100) first—Bitcoin or Silver?

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On this episode of The Crypto Rundown, Mark Longo is joined by Greg Magadini, Director of Derivatives at Amberdata, to break down a wild start to the year. As Bitcoin (BTC) slips back toward $88k and Ethereum (ETH) struggles to reclaim the $3,000 handle, the team explores why current market conditions are a prime setup for "strangling" volatility.

• The Bitcoin Breakdown: BTC is down nearly 4,000 handles since the last show. We analyze the $88k support level and the shift in the 30-day volatility complex.

• Gold vs. Bitcoin Volatility: Why is a $34T asset like Gold currently showing nearly the same volatility as the $1.7T Bitcoin market? Greg explains the "Digital Gold" underperformance and what it means for the tape.

• The Rise of IBIT Dailies: Big news for liquidity! We discuss the launch of Monday and Wednesday weeklies for the BlackRock IBIT ETF and how "Zero Day" (0DTE) culture is officially entering the Bitcoin space.

• MicroStrategy (MSTR/MSTU) Mechanics: Analyzing the "canary in the coal mine." Is there a "death spiral" risk if BTC continues to slip, or are we on the verge of a massive short squeeze?

• Strategic Playbook: Why Greg is eyeing wide synthetic strangles and the "right tail" explosion. We also look at the massive bearish shift in weekly skew and what it tells us about trader sentiment.

• Altcoin Universe: Quick hits on Solana (SOL) volatility, the XRP sub-$2 struggle, and why Circle (CRCL) equity might be the most "serious" altcoin on your radar.

• Check the Data: Explore professional-grade crypto derivatives metrics at pro.amberdata.io .

• New AI Insights: Visit intelligence.amberdata.com for Amberdata's new AI-powered market intelligence platform.

• Follow the Network: Stay updated via X @Options and @Amberdataio .