Remy Blaire is joined by Andy Baehr, the Head of Product and Research at Coindesk Indices, to discuss the current landscape of the cryptocurrency market. The segment opens with a focus on Bitcoin, which is trading just below the $91,000 level, reflecting a significant decline of about 30% since its record high of over $126,000 in October. Remy sets the stage by highlighting the cautious sentiment among investors as both regulated institutions and fast money begin to explore conflict strategies in the crypto space.
As the conversation unfolds, Andy shares his insights on the recent rally in the equity markets, attributing it to an optimistic interpretation of the September jobs numbers and NVIDIA’s earnings report. He notes that while the equity market is experiencing a powerful rally, the crypto market appears to be “hitting the snooze button,” with leverage not yet returning and overall market sentiment remaining tender.
With Thanksgiving approaching, Remy and Andy reflect on the upcoming holiday-shortened week and the transition into December. They discuss the challenges that 2025 may present for the cryptocurrency market, with Andy suggesting that crypto might struggle to deliver on its promise to outperform other asset classes. He emphasizes that while annual performance charts are popular among crypto enthusiasts, the current outlook indicates a more muted performance than expected.
The discussion shifts to market data, where Andy highlights a positive trend towards higher-quality names in the crypto sector. He explains that the performance of mid-cap and small-cap indices shows a growing focus on established names within the CoinDesk 20, suggesting a maturation of the market. Andy points out that the popularity of meme coins has diminished, indicating a shift towards more substantial projects that align with the narrative of blockchain technology.