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29 Jun 2026
A concentrated bearish bias grips the market
Amid BTC's decline to new lows, downside insurance has become abnormally expensive. Meanwhile, CME participation has collapsed to levels not seen since 2023, while perpetual futures traders are showing renewed signs of elevated risk appetite.
24 Jun 2026
K33 Podcast: Ahead of the Curve
Not every day leaves enough time to read a full market report. If you prefer to stay informed while commuting, traveling, or between meetings, you can now listen instead.
22 Dec 2025

2025 - Year in Review

The past year has been a conundrum. Fundamentals are stronger than ever, yet BTC has underperformed major asset classes. When prices and fundamentals diverge, opportunities arise, and we believe 2026 sets the stage for a strong BTC resurgence.

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