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The Hivemind · Thursday · 1 hr 22 min

The Worst Is Behind Us

Is the bottom in for crypto? Kevin, Jason, José, Yan and Ceteris break down a market that just shook off weeks of selling, from the 10:30 AM seller who finally ran out of coins to the year-end unlocks and what the midterms could mean for crypto. The crew digs into the AI debt bubble fears around CoreWeave and the labs, the math behind $4 trillion of AI capex, and why this cycle looks nothing like 2000. Plus, who ends up with Satoshi's coins when quantum arrives, why quantum fear is lifting Zcash and Pearl, Paper Trade's token problem, Kinetiq and the HyperEVM bet, and the rise of anti-social trading. TIMESTAMPS 00:00 Intro 00:44 Has Crypto Bottomed? 03:05 BTC's 10:30 AM Seller Is Gone 04:32 Token Unlocks Into Year End 07:14 Do the Midterms Matter? 09:23 Is AI a Debt Bubble? 10:40 The $4 Trillion AI Capex Math 15:53 Anthropic's Revenue Is Exploding 19:10 The Reflexive AI Demand Risk 25:00 Why This Isn't 2000 33:51 Crypto's Goldilocks Case 36:01 Who Gets Satoshi's Coins? 37:59 Quantum Fear Lifts ZEC and Pearl 41:49 Has Quantum Changed Your BTC Bet? 48:13 Two Big Themes for Next Year 50:12 Paper Trade's Token Problem 59:11 Kinetiq and the HyperEVM Bet 1:09:31 Why Hyperliquid Users Stay Loyal 1:12:30 PUMP vs FOMO 1:16:29 The Rise of Anti-Social Trading 1:19:11 Tokens Still Higher a Year From Now 🧠 Follow the Alpha ▸ Ceteris: https://x.com/ceterispar1bus ▸ Jason: https://x.com/3xliquidated ▸ Yan: https://x.com/YanLiberman ▸ Kevin: https://x.com/Kevin_Kelly_II ▸ Jose: https://x.com/ZeMariaMacedo 🎧 Listen here https://thehivemind.buzzsprout.com 📺 More from Delphi Media ▸ Convergence with Alex Colville: https://www.youtube.com/watch?v=HT-vBRKB3hs ▸ The Delphi Podcast with Andrej Radonjic of Grass: https://www.youtube.com/watch?v=QT7adhMLMI4 🔗 Connect with Delphi 🌐 Portal: https://delphidigital.io/ 🐦 Twitter: https://x.com/delphi_digital 💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/ Disclaimer Hivemind is produced by DELPHI MEDIA, LLC, a member of the DELPHI DIGITAL family of companies. This content is solely for educational and informational purposes and is not, and should not be construed as, legal, tax, investment, or financial advice. Delphi is not a financial, tax, or legal advisor. You are expressly advised to consult with a professional advisor before making any investment decisions. Also, the views expressed by Podcast are solely those of hosts and guests do not necessarily reflect those of Delphi Media.

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Is the bottom in for crypto?
Kevin, Jason, José, Yan and Ceteris break down a market that just shook off weeks of selling, from the 10:30 AM seller who finally ran out of coins to the year-end unlocks and what the midterms could mean for crypto. The crew digs into the AI debt bubble fears around CoreWeave and the labs, the math behind $4 trillion of AI capex, and why this cycle looks nothing like 2000. Plus, who ends up with Satoshi's coins when quantum arrives, why quantum fear is lifting Zcash and Pearl, Paper Trade's token problem, Kinetiq and the HyperEVM bet, and the rise of anti-social trading.


TIMESTAMPS
00:00 Intro
00:44 Has Crypto Bottomed?
03:05 BTC's 10:30 AM Seller Is Gone
04:32 Token Unlocks Into Year End
07:14 Do the Midterms Matter?
09:23 Is AI a Debt Bubble?
10:40 The $4 Trillion AI Capex Math
15:53 Anthropic's Revenue Is Exploding
19:10 The Reflexive AI Demand Risk
25:00 Why This Isn't 2000
33:51 Crypto's Goldilocks Case
36:01 Who Gets Satoshi's Coins?
37:59 Quantum Fear Lifts ZEC and Pearl
41:49 Has Quantum Changed Your BTC Bet?
48:13 Two Big Themes for Next Year
50:12 Paper Trade's Token Problem
59:11 Kinetiq and the HyperEVM Bet
1:09:31 Why Hyperliquid Users Stay Loyal
1:12:30 PUMP vs FOMO
1:16:29 The Rise of Anti-Social Trading
1:19:11 Tokens Still Higher a Year From Now

🧠 Follow the Alpha

▸ Ceteris: https://x.com/ceterispar1bus
▸ Jason: https://x.com/3xliquidated
▸ Yan: https://x.com/YanLiberman
▸ Kevin: https://x.com/Kevin_Kelly_II
▸ Jose: https://x.com/ZeMariaMacedo

🎧 Listen here
https://thehivemind.buzzsprout.com

📺 More from Delphi Media

▸ Convergence with Alex Colville: https://www.youtube.com/watch?v=HT-vBRKB3hs
▸ The Delphi Podcast with Andrej Radonjic of Grass: https://www.youtube.com/watch?v=QT7adhMLMI4

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/
🐦 Twitter: https://x.com/delphi_digital
💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

Disclaimer

Hivemind is produced by DELPHI MEDIA, LLC, a member of the DELPHI DIGITAL family of companies. This content is solely for educational and informational purposes and is not, and should not be construed as, legal, tax, investment, or financial advice. Delphi is not a financial, tax, or legal advisor. You are expressly advised to consult with a professional advisor before making any investment decisions. Also, the views expressed by Podcast are solely those of hosts and guests do not necessarily reflect those of Delphi Media.

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