Hello and welcome to the first episode of Odd Lots. I'm Joe Weisenthal, co-host of What'd You Miss. and editor at Bloomberg Markets, Noam Tracy Alloway, executive editor of Bloomberg Markets here at Odd Lots.We want to have a discussion every week about economics, finance, markets, market structure, which Tracy loves, maybe some politics and culture thrown in stuff that doesn't necessarily fit into the normal day to day conversation. And we couldn't think of any guest better to have than Tom Keene Am I kidd ...

A group of former foreign-exchange professionals is trying to import Wall Street’s market structure into the freewheeling world of crypto https://t.co/Ie4X3tMvkw ...

Core Insights - The current state of bitcoin and Ethereum is analyzed, with a focus on market predictions and infrastructure developments [1] - The CEO of VanEck shares a target price for Bitcoin (BTC) by the end of 2025, indicating a bullish outlook [1] - The GENIUS Act is discussed for its potential transformational impact on the market structure, which may influence investor sentiment [1] Market Analysis - Bitcoin and Ethereum are highlighted as key assets in the current market landscape, with ongoing developments in prediction markets and infrastructure [1] - The discussion includes insights on how the evolving market structure could affect investment strategies and opportunities [1] Future Projections - A specific price target for Bitcoin by the end of 2025 is provided, suggesting a strategic investment outlook [1] - The implications of the GENIUS Act on market dynamics are explored, indicating potential shifts in investor behavior and market participation [1]

🚨 LATEST: Crypto Czar David Sacks will meet tomorrow with GOP members of the Senate Banking Committee to push for advancing market structure this year, per Eleanor Terrett. https://t.co/18Q5WErDm4 ...

Market Structure & Volatility - Market structure analysis provides accurate insights into market movements [2] - The probability of volatility returning in late Q3 or early Q4 was observed [3] - Market movements are often mathematical and predictable, not solely driven by news [5] - The "123 rule" suggests a relationship between SPY movement (1%), underlying stock basket movement (2%), and momentum (3%) [6] - Narrowing spreads in SPY (50-60 basis points) can signal potential market trouble [6] Institutional Investor Behavior - Growth funds may hold significant cash positions due to redemptions [7] - BlackRock gathered $26 billion in assets in a quarter, deploying most into large caps [7] - Market makers like Citadel, Susahana, and Jane Street price large caps, with economics breaking down when spreads narrow too much, leading to volatility [8] Options Market Impact - The volatility of volatility in SPY reached the sixth largest in modern data sets on October 10th [11] - A long period of neither hot nor cold market conditions occurred since 2018 [11] - High volatility and a long period without a reset increase the probability of market trouble, especially around options expirations [12] - Zero days to expiration options have a $12 trillion notional value daily, exceeding the daily stock market value of $800-900 billion [13] - New options series reset on Mondays, making them potentially important [13] - VIX expirations occur on Mondays and Wednesdays, with market stability uncertain until Thursday or Friday [14]

RT Dave Ripley (@DavidLRipley)Major step in Kraken’s market structure journey. Acquiring a CFTC-regulated venue adds yet another piece to our global architecture. More financial market access on the way for the US.https://t.co/kVqBGsPc2P ...

Market Trends & Cryptocurrency Performance - Bitcoin reclaimed the $122,000 level after a pullback [1] - Ether slipped below $4,500 [1] - XRP dipped to $287 [2] - The S&P 500 and Nasdaq moved higher, driven by the AI trade [2] Regulatory Landscape & Legislative Efforts - Lawmakers aimed to get crypto market regulation to President Trump's desk by the end of 2025 [3] - A government shutdown could potentially put the goal of passing crypto regulation by the end of the year at risk [4][5] - There is an opportunity to get clarity across the line by the end of the year, despite the government shutdown [6] - The House bill is recommended as the base text for Senate legislation to expedite the process [8][10] - The Genius Act prohibits issuers from offering interest on accounts [18][20] SEC & Regulatory Oversight - The SEC is expected to take the first round of oversight and regulation of digital asset treasury companies (DATs) [25] - Congress is the backstop to the SEC and may add additional legislation if needed [26][27] - The SEC should enforce the law and hold bad actors accountable, rather than stifle innovation [27][28]

To give you a visual explanation of what’s in my mind in an extreme bearish case, don’t be a low IQ and take this chart as a perfect template, because not everything can be seen in advance. But it illustrates how I believe things unfold into year end and early 2026. I expect bearish months ahead, with bounces and short-term opportunities in between. The overall market structure remains EXTREME bearish.For those asking why we placed recent altcoin buy orders, its to capture the bounce that is likely to happe ...

Senate market structure bill draft proposes SEC–CFTC joint committee to end crypto turf wars https://t.co/i2orrtHpUC ...

Let's talk a little bit about that. EO So it instructs the Department of Labor and the SEC to adjust their rules and regulations to allow those retirement accounts to invest in private assets, to invest in crypto, or at least to allow it. How will the S.E. C. approach this.What does that checklist look like. Katie It's great to be here. I think we've already started that process of opening the private markets to retail and thinking about ways that we can get them access in a way that's diversified, professi ...