The Wolf Of All Streets · Nov 3, 2026 · 47m · 40m saved
With Ryan Rasmussen, Head of Research at Bitwise · Tillman Holloway, CEO of Arch Public · Andrew Parish, Co-Founder of Arch Public
Photo via events.coindesk.com
Bitcoin broke below its September trading range on the morning of the US midterm elections, days after Binance suffered what Scott Melker, who hosts The Wolf Of All Streets, called the biggest hack ever. Ryan Rasmussen, head of research at Bitwise, told the show that the price had barely moved on either headline, and that he reads that as strength.
Most of the market spent the morning watching prediction markets and Washington. Ryan's view is that the people setting crypto policy stay in their jobs whatever the vote says.
"The market's digesting negative news incredibly well right now... that's like a coiled spring for when we get through all of this uncertainty." — Ryan Rasmussen
Ryan's team at Bitwise meets financial advisors at events like Schwab Impact and sets the firm's long-term forecast for bitcoin. Tillman Holloway, CEO of Arch Public, and Andrew Parish, its co-founder, run an algorithmic trading platform and joined the panel.
The full episode is covered here so you can skip it. 47 minutes of audio, 7 minutes of reading.
Here are the 6 takeaways that matter.
Key Takeaways
The midterms will have a small long-term effect on crypto rules, Ryan says, because the regulators pushing crypto policy stay in place
Prediction markets priced "a 75% chance" of a Democratic sweep on election morning
The CLARITY Act stalled and became a non-event within six weeks
ETF flows have dried up, but advisor rooms are full and their questions have moved well past bitcoin basics
Moving bitcoin into an ETF in kind is now open to smaller holders
The minimum fell from "a $10 million minimum" to "three million"
Bitcoin's calm through the Binance hack and the tech selloff is what Ryan calls a setup for a rally once uncertainty clears
Bitwise expects bitcoin to be the best-performing asset of the next decade, backed by "$2 trillion deficits" and central-bank gold buying
1. The Midterms Matter Less
Scott opened on the three stories of the morning: the broken range, the Binance hack and the midterm vote.
Prediction markets were pricing a Democratic sweep of Congress on election morning
"Bitcoin September trading range just broke down... Binance had the biggest hack ever. And today is midterm day and prediction markets are pricing a 75% chance that... the anti-crypto Democrats are going to sweep both houses." — Scott Melker
Ryan said the long-term effect on crypto would be small. SEC chair Paul Atkins and the other officials pushing crypto-friendly policy keep their posts whichever party controls Congress.
The regulators driving crypto policy stay in power regardless of the vote, Ryan says
"I think it's somewhere in the middle... I think the long-term impact this has on crypto is relatively small... longterm the regulators are going to stay in power that are pushing crypto agendas forward." — Ryan Rasmussen
Scott raised the one risk Ryan also flagged: Elizabeth Warren taking the gavel of the Senate Banking or Finance committee and making Paul Atkins's job harder.
