Will Bitcoin dip below $50K? On today's Markets Outlook, 10x Research Founder and CEO Markus Thielen tells CoinDesk's Jennifer Sanasie why he sees Bitcoin dropping even more before recovery, with $7B in ETF outflows since mid-May and MicroStrategy stepping back as the last real buyer. Plus, why he stays bearish on Ethereum, why he's calling Hyperliquid overvalued, and why nothing turns around until the Fed goes dovish. - Timecodes: 00:00 Bitcoin Could Dip to $46K Before Year-End Rally 01:20 Bitcoin Falls Below $60K: What's Driving the Selloff? 02:37 $4.5B in ETF Outflows, Saylor's Bitcoin Sale, and Missing Catalysts 03:14 Why the Genius Act and CLARITY Weren't Real Catalysts 05:00 When Does the Fed Turn Dovish? The Macro Case for a Rally 05:19 Kevin Warsh Nomination Was the Turning Point for Bitcoin 07:27 Why Bitcoin Could Break Below $50K to $46–47K 09:41 The 2022 Parallel: Grayscale's SEC Win as the Sentiment Shift 11:06 Brand New Rails: Securitize Lists on NYSE 12:40 Where Does Bitcoin End the Year? 13:51 Why Markus Is Still Bearish on Ethereum 15:20 Stablecoin Activity Isn't Accruing to ETH Holders 16:40 The Bull Case for ETH Has Broken Down 17:28 Hyperliquid Overvalued at $72? 18:33 Why HYPE Is Unlikely to Reach $100 19:46 What to Do Now: Covered Calls, Shorts, and Watching for the Low - This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co. - Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings. Perfect 8 year track record of keeping clients assets safe. Don't sell your bitcoin. Get a bitcoin-backed loan. Check out your rate by using their loan calculator at ledn.io - JPEG Trading is a global proprietary trading firm specializing in cryptocurrency and decentralized finance markets. From market structure and liquidity provision to quantitative trading strategies, JPEG Trading operates across the full spectrum of blockchain-based assets. Follow @jpegtrading on X to stay ahead of the latest developments in digital asset markets: https://x.com/jpegtrading - This episode was hosted by Jennifer Sanasie.

Does Ethereum have a funding crisis? On today's Markets Outlook, Protocol Guild Organizer Trent Van Epps tells CoinDesk's Jennifer Sanasie why the Ethereum Foundation's subtraction philosophy is creating a critical funding gap for core developers, what it will take to fill it, and why he's still optimistic about ETH's future. - Timecodes: 00:00 - Trent Van Epps Joins Markets Outlook 00:57 - Why Trent Left the Ethereum Foundation 01:55 - What Is Subtraction and Why It Matters 02:31 - 20% Workforce Cuts and the Funding Gap Explained 05:09 - Options for Solving the Funding Crisis 07:06 - Will Ethereum Lose Its First Mover Advantage? 08:40 - What Happens If the Funding Doesn't Come? 10:47 - What Institutions Should Replace the EF? 12:24 - Ethereum’s Future 14:37 - ETH the Asset: The Misconceptions and the Opportunity - Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/mePmjknvBVc - To get market moving news delivered daily, download CoinDesk’s mobile app: https://linktr.ee/coindeskapp. - This episode was hosted by Jennifer Sanasie.

Arthur Hayes on his HYPE position, AI bubble, and the new Fed Chair. On today's Markets Outlook, BitMEX Co-Founder and Maelstrom CIO Arthur Hayes tells CoinDesk's Jennifer Sanasie why all roads still lead to money printing, how long the AI bubble has left, and why he has zero regrets about publicly selling his HYPE position. Plus, his reaction to Michael Saylor's Bitcoin stress test. - Timecodes: 00:00 - Arthur Hayes Joins Markets Outlook 01:30 - Arthur’s Reaction to Michael Saylor News and Strategy Business Model 02:59 - When Does the AI Bubble Burst? 03:56 - New Fed Chair Warsh's Task Forces & What It Really Means 06:58 - Uniswap & Standard Chartered's $100 Price Target 08:06 - Responding to the HYPE Selloff Drama 09:24 - HYPE vs. SOL: Which Wins? - For more commentary from Arthur Hayes: IG - https://www.instagram.com/cryptohayes/ LinkedIn - https://www.linkedin.com/in/arthur-hayes-b493b42/ Substack - https://cryptohayes.substack.com/ Web: https://www.cryptohayes.com X - https://x.com/cryptohayes - Maelstrom Fund: LinkedIn: https://www.linkedin.com/company/maelstromfund  Web - https://www.maelstrom.fund  X - https://x.com/maelstromfund  - Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/75LrBmSScvY - To get market moving news delivered daily, download CoinDesk’s mobile app: https://linktr.ee/coindeskapp. - This episode was hosted by Jennifer Sanasie.

The bug that tanked ZEC with Josh Swihart. On today's Markets Outlook, ZODL CEO Josh Swihart joins CoinDesk's Jennifer Sanasie to break down the Zcash vulnerability discovered with the help of AI, including how it was found, fixed, and what it means for the protocol's future. Plus, he weighs in on privacy coins vs. government pushback, formal verification as the new security standard, and why Zcash is more battle-hardened than ever. - Timecodes: 00:00 - Zcash Bug Found by AI After Four Years 03:26 - What Went Through Josh’s Mind When He Found Out 04:47 - Could the Bug Have Been Exploited? 05:47 - How the Bug Helps the Zcash Ecosystem 07:27 - Zcash vs. Other Privacy Protocols 09:54 - Will Governments Push Back on Privacy Coins? 11:45 - Formal Verification and Finding Future Vulnerabilities 14:08 - What Other Protocols Can Learn from This - Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/zn3D_adn6nI - Register now for CoinDesk’s Policy and Regulation event on September 24, 2026: ⁠https://policy-regulation.coindesk.com/⁠. - This episode was hosted by Jennifer Sanasie.

Market convictions with Helius' Mert Mumtaz. On today's Markets Outlook, Helius CEO Mert Mumtaz tells CoinDesk's Jennifer Sanasie why he's tuning out the noise and staying convicted on Zcash, Solana, BTC and Hyperliquid. Plus, he weighs in on the Arthur Hayes drama, the Clarity Act, and why Bitcoin's transparency is actually a long-term vulnerability. - Timecodes: 00:00 - Institutional Capital Rotating into AI IPOs 01:53 - Met's 'Shield and Chill' Strategy 04:29 - Responding to Arthur Hayes Selling HYPE and NEAR positions 08:44 - Mert's Zcash Thesis 13:00 - Solana as the "Silicon Valley of Finance" 15:43 - Hyperliquid Thesis - Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/Nlp1QLZx0r0 - Register now for CoinDesk’s Policy and Regulation event on September 24, 2026: https://policy-regulation.coindesk.com/. - This episode was hosted by Jennifer Sanasie.

Altcoins have lost the plot with Scott Melker. In today's Markets Outlook, Scott Melker, Host of Wolf of All Streets, tells CoinDesk's Jennifer Sanasie why altcoins have lost the plot, what's really driving the weird market we're all feeling, and why Bitcoin is still the only bet he's making long-term. Plus: are prediction markets, tokenized equities, and "private Bitcoin" just hype? - Timecodes: 00:00 - Scott Melker Joins Markets Outlook 01:38 - Why Bitcoin Is Underrated 03:59 - Is Crypto Recreating the System It Was Built to Fight?  06:08 - Scott’s Bitcoin Origin Story 08:04 - Why This Market Feels Impossible to Read 10:07 - How Prediction Markets Killed the Altcoin Casino  13:33 - Teaching His Kids About Bitcoin and AI in a Complicated World 16:22 - AI Tokens and Zcash Outlook 18:33 - Zcash as Privacy Bitcoin: “It Makes Me Want to Puke” 19:46 - Scott's Bitcoin Price Outlook for the Rest of the Year - This episode was hosted by Jennifer Sanasie.

Unpacking Hyperliquid's ATH with Michaël van de Poppe. In today's Markets Outlook, Michaël van de Poppe, Founder and CIO of MN Capital and MN Fund, joins CoinDesk's Jennifer Sanasie to share why Hyperliquid is hitting new all-time highs. He makes the case for NEAR and Bittensor as undervalued AI crypto plays compared to overhyped tech IPOs, and explains why he's steering clear of privacy coins like Zcash. Plus, his key macro signals to watch over the next four to six weeks. - Timecodes: 00:00 - What Michaël Is Watching in the Markets? 01:47 - Why European Traders Are Flocking to Hyperliquid 02:59 - HYPE Price Target & HYPE vs. Solana 05:09 - Responding to CME, ICE Regulatory Scrutiny of HYPE 07:27 - Are Altcoins Dead? 08:59 - The Case for NEAR Over AI IPOs 10:43 - Why Bittensor Could Reach $1,000-$2,000 12:48 - Privacy and Zcash 16:33 - Macro Outlook: Yields, the Fed, and What's Next - This episode was hosted by Jennifer Sanasie.

At Consensus Miami, BitMEX co-founder and Maelstrom CIO Arthur Hayes joins CoinDesk Live to break down why AI-driven layoffs could create the next banking crisis and how bitcoin is already pricing it in. He also shares his updated BTC price target, his conviction bet on Hyperliquid, and why he thinks crypto regulation misses the point entirely. - 00:00 - Q1 No-Trade Zone and What Changed Arthur's View 02:34 - AI Layoffs, Over-Leveraged Economy, and the Coming Banking Crisis 04:57 - Why the Fed Is Missing the Problem and What Bitcoin Is Signaling 06:09 - Crypto Regulation, the CLARITY Act, and Why Arthur Doesn't Care 08:29 - Bitcoin $125K Target and the Money Printing Thesis 09:26 - Hyperliquid, Hype $150 by August, and Why Trading Apps Win 15:23 - Prediction Markets, Zcash, and Why Altcoins Will Never Die

MoonPay's newest acquisition and the launch of MoonPay Institutional. Just announced, MoonPay is acquiring Sodot and launching MoonPay Institutional, a new division bringing professional-grade crypto infrastructure to banks, asset managers, and trading firms. MoonPay's Chief Legal Officer and Chief Administrative Officer, Caroline Pham, joins CoinDesk's Jennifer Sanasie on Markets Outlook to explain the thesis behind the deal and why end-to-end blockchain infrastructure is now table stakes for institutions. - Timecodes: 00:00 - What's Behind the Sodot Acquisition and What to Expect From MoonPay Institutional 04:54 - The $100M Bet on Institutional Crypto 07:09 - Do Crypto Companies Need an Institutional Play to Survive? 09:11 - Is Regulation the Real Driver of Institutional Adoption? 10:20 - Market Structure Legislation Timeline 11:04 - Is There Really Tension Between Banks and the Crypto Industry? 12:34 - How MoonPay Competes - This episode was hosted by Jennifer Sanasie.

BTC's $1M prospects and Bitwise's Avalanche ETF with Matt Hougan. In today's Markets Outlook, Bitwise CIO Matt Hougan joins CoinDesk's Jennifer Sanasie to make the case for $1 million bitcoin, breaking down why institutional demand is still just getting started and how global geopolitical chaos is actually accelerating crypto's rise as an apolitical currency. He also unpacks Bitwise's new Avalanche ETF (BAVA), what investors need to know about staking ETFs, and why Hyperliquid is forcing institutional players to rethink weekend trading. - Timecodes: 00:00 - Bitwise's Matt Hougan Joins Markets Outlook01:13 - Do We Need Another Bitcoin ETF?05:53 - Matt's Take on the Quantum Threat to Bitcoin07:30 - Geopolitical Chaos Is a Catalyst for Bitcoin12:16 - What It Will Take to Reach $1M Bitcoin13:28 - Bitwise's Avalanche ETF (BAVA)16:15 - What Investors Need to Know About Staking ETFs17:36 - Why HYPE is Appealing to Investors 19:16 - What Happens if Bitcoin Breaks $75,000? - This episode was hosted by Jennifer Sanasie.