The DeFi Report

In this episode of The DeFi Report, Mike and Ryan break down what Trump’s pick for Fed Chair, Kevin Warsh, could mean for crypto, and why a real regime shift might be back on the table. They unpack Warsh’s record as a Fed governor, his critique of QE and the swollen balance sheet, and the big question markets are not pricing: is the Fed Put still alive? Mike explains why he still views crypto as in a bear market, the onchain and cycle metrics he needs to see before going risk-on, and how a Nasdaq rollover tied to an AI unwind could drive the next leg lower. They close with fair value targets, downside scenarios, and what would finally flip Mike into buy mode.
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TIMESTAMPS

0:00 Intro
2:15 The Bloodbath in Crypto Prices
2:52 Analyzing the New Fed Chair
7:21 Warsh's Views on Inflation
10:19 Trump & Warsh's Alignment
12:55 The Fed Put: A New Perspective
18:05 Constraints on Warsh's Policies
20:59 The Uncertainty of the Fed's Influence
21:50 Crypto's Bear Market Outlook
23:32 Metrics for Bitcoin's Recovery
25:27 Long-Term Holders' Market Behavior
27:13 The State of Bitcoin Miners
29:35 NASDAQ & Tech Sector Trends
32:54 The AI Bubble and Its Implications
35:35 The Potential for Market Unwind
39:39 ISM Data and Economic Signals
40:45 Mike's Risk-On Strategy Insights
42:41 Closing & Disclaimers

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Not financial or tax advice. For educational purposes only.

In this episode of The DeFi Report, Mike and Ryan break down why Bitcoin is underperforming gold, what the BTC/Gold ratio is signaling about the next bottom, and why this setup may be more bullish than it looks. They unpack China’s role in driving the gold trade, why Bitcoin still behaves like a risk-on asset, and how investor “envy” distorts cycle perception. Mike lays out realistic downside scenarios, key support levels to watch, and the onchain signals he needs to see before deploying capital.
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https://x.com/the_defi_report
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TIMESTAMPS

0:00 Intro
2:08 Bitcoin vs. Gold Ratio Analysis
8:19 Understanding Gold's Outperformance
13:12 China's Impact on Gold Demand
14:27 Bitcoin's Future as a Reserve Asset
16:27 Potential Bottom for Bitcoin Ratio
20:25 Market Sentiment & Investor Behavior
26:35 Onchain Metrics and Market Conditions
33:41 The Future of Real World Assets in Crypto
34:59 Closing & Disclaimers

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Not financial or tax advice. For educational purposes only.

In this episode of The DeFi Report, Mike and Ryan lay out Mike’s full portfolio construction framework for a crypto bear market. We walk through how he sizes Bitcoin as the anchor, how core and high-beta assets fit into the cycle, and why price matters more than narratives right now. Mike also shares fair value targets across nearly 30 assets, explains why most investors rush entries too early, and what signals he’s waiting for before going risk-on again.
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📣THE DEFI REPORT | FOLLOW & SUBSCRIBE
https://thedefireport.transistor.fm/
https://thedefireport.io/
https://x.com/the_defi_report
https://x.com/JustDeauIt

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TIMESTAMPS

0:00 Intro
1:50 Market Overview & Conditions
4:03 Constructing a Portfolio
7:00 Importance of Bitcoin
10:41 Core Assets Explained
13:26 Long-Term Holds Strategy
14:06 Risk-On Assets Discussion
17:36 Price Targets for Each Sleeve
20:54 Core Asset Candidates
29:13 Long-Term Holds & Watchlist
33:13 Meme Coins and Market Cycles
36:41 Analyzing the Watchlist
40:30 Closing & Disclaimers

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Not financial or tax advice. For educational purposes only.

Bitcoin is pushing toward $100K, but is the move real or just a positioning unwind? Mike and Ryan break down the CPI surprise, real rates and breakevens, why global liquidity still looks like it’s rolling over, and what the onchain data says about true demand, from ETF flows to long term holder selling, open interest, and funding. Mike explains what would convince him this rally can reclaim $100K as support, and why he’s still staying patient and largely in cash.
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📣THE DEFI REPORT | FOLLOW & SUBSCRIBE
https://thedefireport.transistor.fm/
https://thedefireport.io/
https://x.com/the_defi_report
https://x.com/JustDeauIt

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TIMESTAMPS

0:00 Intro
0:14 Next Stop: $100K Bitcoin?
1:10 Positive Price Action
4:54 Powell's Prosecution & Market Impact
6:08 Bitcoin's Moment?
9:14 Understanding Real Rates & CPI
12:19 Global Liquidity & Bitcoin
17:57 Onchain Data Insights
21:47 Market Demand Signals
26:14 Anticipating Market Reactions
32:15 Upcoming Assets on the Watchlist
35:44 Closing

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Not financial or tax advice. For educational purposes only.

📣THE DEFI REPORT | FOLLOW & SUBSCRIBE
https://thedefireport.transistor.fm/
https://thedefireport.io/
https://x.com/the_defi_report
https://x.com/JustDeauIt

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Today on The DeFi Report, we’re mapping the 2026 setup: shifting fiscal flows, tighter liquidity, and why rate cuts are not automatically bullish for crypto. Mike stays risk off (80 percent cash) while he watches for the signals that would force a pivot, falling real yields, a dovish Fed, and Bitcoin reclaiming key levels. We also break down where we are in the market cycle, why a counter rally could be a trap, and what Mike’s $65K fair value target implies for positioning this year.

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TIMESTAMPS

0:00 Intro
1:10 Setup for 2026
5:54 Macro & Liquidity Setup
8:46 2022 Comparison 
11:40 U.S. Liquidity Cycle Insights
13:20 Bitcoin & Interest Rates
16:34 Labor Market Insights
18:49 Real Estate Trends
21:04 Midterm Year Implications
23:30 Asset Allocation Cycle
26:18 Crypto Cycle Analysis
29:38 Transition Phase in Crypto
34:23 Geopolitical X Factor
37:12 Closing & Disclaimers

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Not financial or tax advice. For educational purposes only.