Coinbase Markets Podcast

We discuss why the "Fed trade" is back in control of crypto as a stronger dollar and hot PCE inflation push bitcoin below $60K for the first time in nearly two years. We cover why AI and equity earnings keep crowding out speculative crypto demand, and what might finally free up capital for bitcoin. We also discuss how the government's shutdown of Anthropic's Fable model reframes decentralized AI as an "access" story, why Coinbase for Agents makes the AI x crypto thesis more tangible, and how to actually trade bitcoin from here using a variety of powerful indicators.

Main sections:

(01:05 - 06:21) The return of the Fed trade

(06:21 - 20:14) AI, earnings, and the marginal speculative dollar

(20:14 - 24:33) Coinbase for Agents and agentic payment rails

(24:33 - 37:04) How to trade bitcoin from here

Speakers:

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

Austin Arnold - Co-Host of Altcoin Daily (X: https://x.com/AltcoinDaily)

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Description:

We discuss why this week's macro setup favors caution, as last week's strong jobs report makes the upcoming CPI print critical to the Fed's reaction function. We cover why Bitcoin's institutional bid is being tested, with ETF outflows acting as a double-edged sword and $60K standing out as a key level to hold. We also discuss how AI-assisted discovery of a critical Zcash vulnerability is reshaping how investors price protocol security risk, and what US-regulated perps and options means for Hyperliquid.

Main sections:

(01:20 - 08:01) Labor, inflation, and the CPI setup

(08:01 - 14:02) Bitcoin's institutional bid

(14:02 - 19:35) Zcash, AI, and protocol security risk

(19:35 - 29:12) Hyperliquid's competition amidst the arrival of US perps & options

Speakers:

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

Greg Sutton - Head of Prime Trading, Coinbase

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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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