In this episode, Charles Edwards joins the show to discuss why the current cycle is the last that will matter, the impact of Bitcoin ETFs, and what the on-chain data is signaling. We also delve into the approval of options on the IBIT ETF, the key top signals, and much more. Enjoy!

—

Follow Charles Edwards: https://x.com/caprioleio

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin

—

Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.

Start your journey today at polkadot.com/get-started

MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.

Learn more: https://www.mantrachain.io/

—

Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii

—

Timestamps:

(00:00) Introduction

(02:04) Macro Overview

(03:54) Soft Landing vs Hard Landing

(06:09) Bitcoin Seasonality

(09:22) Current Bitcoin Cycle Dynamics

(12:57) Bitcoin Macro Index

(14:41) Future Bitcoin Cycles Won't Matter

(17:10) On-chain Data

(19:50) Bitcoin ETFs

(23:09) Ads

(24:23) Interview Continues

(27:38) Impact of IBIT Options

(29:05) Financialization vs the Bitcoin Ethos

(31:53) The Bitcoin Endgame

(34:44) Leverage & Funding Rates

(38:35) Top Signals

—

Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.