Coinbase Markets Podcast

We discuss why oil remains the key macro pressure point for crypto as Iran-conflict escalation keeps inflation risk, the dollar, and higher-for-longer Fed expectations in focus. We cover why bitcoin’s setup has weakened below $70K, with ETF outflows, weak trend signals, softer holder profitability, and exchange inflows all pointing to a more fragile market. We also discuss Coinbase bringing regulated access to crypto options and perpetual futures to the US, why that could be a major institutional market structure unlock, and why AI continues to support equities even as crypto lags.

Main sections:

(01:20 - 08:51) Oil, Iran, and stagflation risk

(08:51 - 14:21) Bitcoin’s weaker setup

(14:21 - 22:18) Crypto options and perps come to the US!

(22:18 - 27:37) AI and equity leadership

Colin Basco - Quantitative Strategist, Coinbase (X: https://x.com/colin_basco)

Josh Pack - Senior Prime Trader, Coinbase

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We cover how the April Fed minutes challenged the one-way cut narrative, why Nvidia’s strong earnings and the broader AI CapEx cycle are supporting equities without necessarily lifting crypto, and how bitcoin has absorbed meaningful ETF outflows without breaking down. We also discuss the latest roadblock for tokenized equities.

Main sections

(01:25 - 06:50) Fed minutes and rates repricing

(06:50 - 13:50) Nvidia earnings implications and equity resilience

(13:50 - 19:08) Bitcoin ETF outflows and absorption

(19:08 - 24:26) Tokenized equities and regulatory concerns

Speakers

Colin Basco - Quantitative Strategist, Coinbase (X: https://x.com/colin_basco)

Josh Pack - Senior Trader, Prime Trading Desk

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we sit down with Lark Davis to discuss why hotter inflation data is forcing markets to rethink the Fed’s room to cut, and why that may keep crypto in a more selective regime. We cover whether Bitcoin is really an inflation hedge, why BTC dominance may stay elevated if liquidity remains tight, and how traders are weighing onchain data, technicals, and institutional ETF flows. We also discuss Solana’s Alpenglow upgrade and why better technology still needs to translate into usage and token value capture. We finish by analyzing the new Hyperliquid x Coinbase partnership and why Hyperliquid remains one of crypto’s clearest product-market-fit stories.

Main sections:

(01:21 - 10:17) Inflation, Fed policy, and Bitcoin dominance

(10:17 - 22:21) Bitcoin key trading indicators

(22:21 - 29:20) Solana’s Alpenglow upgrade and implications

(29:20 - 39:28) Hyperliquid x Coinbase

Speakers:

Colin Basco – Quantitative Strategist, Coinbase (X: https://x.com/colin_basco)

Lark Davis – Host of The Lark Davis Show (X: https://x.com/LarkDavis)

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In this episode, we focus on three of the biggest crypto stories of the week: Circle’s Q1 results and ARC token announcement, Bitcoin’s more nuanced setup after strong ETF demand ran into a hotter CPI print, and Ethereum’s increasingly important staking and float dynamics.

Main sections

(01:21 - 10:17) Circle’s Q1 results & ARC token

(10:17 - 19:16) Bitcoin after CPI

(19:16 - 23:12) The macro framework for crypto

(23:12 - 32:18) Ethereum’s setup

Speakers

 Colin Basco — Quantitative Strategist (X: https://x.com/colin_basco)

 Greg Sutton — Head of Prime Trading

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We connect the week’s biggest macro and crypto stories, from Iran-driven oil volatility and the equities earnings backdrop to bitcoin’s increasingly important test near $80K. We discuss why rising spot ETF inflows and tighter float have made BTC’s rebound more meaningful, but not yet a confirmed regime shift, and why the short-term holder cost basis remains the key level to watch. We also examine the fallout from the Kelp DAO exploit, how AI may increase risk in DeFi, and why prediction markets have evolved from a niche crypto product into a multi-billion-dollar industry driven by sports, geopolitics, and changing user behavior.

Main sections:

(04:31 - 12:21) The macro setup

(12:21 - 20:25) Bitcoin’s rebound and key levels

(20:43 - 27:36) DeFi’s security problem and Mythos AI Implications

(27:36 - 34:38) Prediction markets

Speakers

David Duong, CFA - Global Head of Investment Research (X: https://x.com/DavidDuong)

Colin Basco - Research Associate (X: https://x.com/colin_basco)

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