Markets Are Broken: The Crypto Liquidity Crisis Explained

Video Description

🔥 Join us in Miami for the Crypto Gathering - January 22-25. Get your early bird tickets here: https://rvtv.io/49QZAGI. ⚪ Chris Burniske, partner at crypto venture capital firm Placeholder, joins Raoul Pal on the latest Journey Man to discuss his take on where we are in the cycle, widely seen on Crypto Twitter as bearish. Chris fleshes out the nuances in his approach, explains his expectations for the medium term, and offers words of wisdom to those struggling with this market mentally. Recorded on November 13, 2025. ⚪ X: @cburniske 📣 Bitwise has been all-in on crypto since 2017 and has more than 20 crypto-based products to help investors get the access they need. Bitwise manages the world’s largest crypto index fund, one of the top Bitcoin ETFs, and one of the largest institutional Ethereum staking solutions. Bitwise has over $10 billion in assets under management and employs over 100 people in the US and Europe to manage a range of products, including ETFs, private alpha strategies, and SMAs for large investors. 👉 Check out Bitwise at https://bitwiseinvestments.com and let them know that Real Vision mentioned them. Carefully consider the extreme risks associated with crypto before investing. 📣 Start investing today - https://gemini.com/realvision. 👉 Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Gemini Intergalactic UK, Ltd is registered with the Financial Conduct Authority, under Firm Reference Number: 921817 Unlock the potential to showcase your brand to our global audience. Contact us at [email protected] for advertising inquiries. Timestamps: 0:00 – Intro & Sponsor 1:05 – Guest Introduction & Conversation Kickoff 2:25 – Market Context & Bitcoin Cycle Discussion 5:50 – Market Behavior & Asset Dynamics 10:29 – Leverage, Reflexivity, and Portfolio Thinking 15:44 – Investor Psychology & Early Experiences 22:37 – Crypto History & Long-Tail Dynamics 29:40 – Portfolio Framework & Risk Management 34:49 – Market Metrics, Yields & Historical Cycles 42:36 – Cycle Expectations & Structural Shifts 46:58 – Liquidity, Macro Forces & Market Timing 53:26 – Market Behavior, Biases & Psychological Frameworks 57:52 – Asset Rotation, Zcash & Privacy Coins 1:02:37 – Specific Asset Cases & Market Strategy 1:07:36 – Macro, Liquidity & Venture Shifts 1:16:14 – Final Reflections on Bitcoin & Cycle Mindset 1:20:21 – Outro & Calls to Action Unlock the potential to showcase your brand to our global audience. Contact us at [email protected] for advertising inquiries. 🍌 Get your Banana Zone swag at the Real Vision merch store: https://shop.realvision.com Connect with me: Twitter (X): https://twitter.com/RaoulGMI Instagram: https://www.instagram.com/raoulgmi/ LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/ My other work: Real Vision: https://rvtv.io/3LHYIaH Global Macro Investor: https://globalmacroinvestor.com The Exponentialist: https://realvision.com/thefuture EXPAAM: https://expaam.com Connect with Real Vision™: Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Get a FREE membership: https://rvtv.io/3Y4t5Pw Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf #raoulpal #crypto #macro #macroeconomics #cryptocurrency #cryptonews #blockchain #web3 #nft #nfts #btc #eth #btcnews #bitcoin #bitcoinnews #bitcointoday #cryptotrading #cryptoinsights #cryptotips #cryptoinsights #macroinsights #realvision #solana #sol #solanasol #altcoins #bitcoinnews #btctoday #btcnews #sui #suicrypto #ethnews