Episode 102: Crypto Holds While Stocks Tank As Conflict Deepens

Crypto has held up surprisingly well as macro and geopolitical tensions continue to rise. While traditional risk assets have struggled, Bitcoin is still holding around the $70K range and volatility is starting to return to the market.

This week, Imran sits down with Maxime Seiler, co-founder of STS Digital, one of the leading market makers in the crypto options space. They talk about why crypto has remained relatively stable despite the macro pressure, how options traders are positioning right now, and what current volatility levels could be signaling for the next move. They also dive into Maxime’s background in traditional volatility trading, the growth of the crypto derivatives market, and how macro headlines are increasingly shaping price action in crypto.

The following topics is covered:

00:00 – Intro
00:18 – Todays special guest, Maxime Seiler from STS Digital
00:57 – Crypto Market Resilience vs Risk Assets
03:02 – STS Digital Overview
03:14 – Maxime Seiler’s Background (Credit Suisse & Argentier Capital)
08:10 – Founding STS Digital & Building a Institutional- Platform for Options
10:05 – Providing OTC Options Liquidity Across Crypto Tokens
10:59 – Which Altcoins Actually Trade in Options?
14:06 – Why Crypto Volatility Now Trades More Efficiently
20:01 – Why Vol Stayed Supported on the Rally Back Above 70K
22:28 – Weekend Sell-Off & Downside Hedging
24:52 – Why Bitcoin Put Skew Is Likely Here to Stay
30:14 – Why ETH Is Unlikely to See a Gamma Squeeze
36:53 – Favorite Trade Setups in the Current Market
38:16 – Closing Thoughts