NYDIG's Pete Janney and Greg Cipolaro unpack bitcoin's strong performance since the onset of the Iran conflict. The pair examine drivers of that outperformance and where the incremental buyer is coming from, with a close look at Strategy's STRC perpetual preferred equity instrument. They also cover Goldman Sachs entering the covered call ETF space, the state of implied and realized volatility, and what the current options environment means for yield-seeking clients. Greg adds context from on-chain metrics suggesting the current drawdown is tracking better than prior cycles and a bottoming process may be underway.
