The Crypto Rundown 321: Trading MSTR with Reckless Abandon & The Illinois "Privilege Tax"

On this episode, Mark Longo is joined by Bill Ulivieri of Cenacle Capital Management to break down the latest action across Bitcoin, IBIT, and the wider crypto derivatives space. The guys dive deep into MicroStrategy (MSTR), discussing its current 26% discount to net asset value and why Bill is looking to sell the $100 par puts "with reckless abandon." They also explore the Altcoin Universe—including the growing volume in PER (Hyperliquid), the latest on Circle, and a look at decentralized AI tokens like BitSensor (TAO)—before tackling a listener question on major regional transaction regulations that could ripple across the broader digital asset landscape. In this episode, we break down: Bitcoin & iBit Breakdown: Navigating the dip to $62K, current iBit options flow, and the anticipation of a July 4th Clarity Act pop. The MSTR Volatility Monster: Why MSTR options are trading at nearly 2x the volatility of iBit, and how to trade the current net asset value (NAV) discount. Altcoin Universe: Deep dives into ETH futures, BMNR earnings, Circle time-spreads, and the rise of decentralized AI tokens like BitSensor (TAO). Crypto Questions: Breaking down new regional digital asset transaction acts, what they mean for self-custody wallets, and the upcoming industry pushback against surprise transaction fees.