The crypto markets are at a crossroads. While macro chaos — tariff whiplash, rising yields, and inflation fears — continues to dominate headlines, bitcoin has barely budged. And some say that’s exactly the signal.

In this episode, Matt Hougan of Bitwise and Matthew Sheffield of FalconX join Laura to unpack the tension between short-term volatility and long-term conviction. They explore why this cycle may look very different from previous ones, how institutional capital is navigating crypto, and whether we’re entering a new era defined by fundamentals, not just narratives.

Plus: Why bitcoin might hit $200K, what Ethereum needs to reclaim momentum, and the real potential of DeFi under this new administration.

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Subscribe to our new crypto + macro newsletter! https://bitsandbips.beehiiv.com/subscribe

Recent coverage of Unchained on the economy and tariffs: 

Recession incoming?

• Ray Dalio’s remarks on Meet the Press

Timestamps:

📍 0:00 Introduction

🧠 3:48 “An extraordinary moment to live in,” says Matt

⚖️ 5:21 The growing disconnect between long-term belief and short-term pain

🔍 7:40 Why fundamentals are finally taking center stage in investor analysis

🐻 12:34 Solana’s memecoin reputation… can it shake the stigma?

🏛️ 14:29 How ETFs permanently changed crypto market dynamics

📉 15:27 What the 10-year treasury is telling us about bitcoin’s next move

📊 20:28 What crypto options are revealing about investor sentiment

📈 22:33 Whether Ray Dalio is right about where the U.S. economy is headed

💵 28:16 What a weaker dollar means for bitcoin’s value

🚀 31:17 Is $200K bitcoin coming? And who will drive it there?

🌊 38:55 What has to happen for alt season to actually return

🔄 44:40 What light ETF outflows since “Liberation Day” mean

📈 51:10 Why crypto IPO demand is heating up

⚖️ 54:37 DeFi’s big regulatory moment and why the market might be missing it

Learn more about your ad choices. Visit megaphone.fm/adchoices