In the latest CF Benchmarks live X Space, recorded June 25, 2026, Head of Research Gabe Selby is joined by a deep bench from across CF Benchmarks and Kraken: CEO Sui Chung, Head of Sales Peter Stern, Research Analyst Mark Pilipczuk, and Kraken Chief Economist Thomas Perfumo. The team is joined by special guest James Seyffart, Senior ETF Analyst at Bloomberg Intelligence, with a drop-in from Bitwise Head of Research Ryan Rasmussen.

With Bitcoin more than 50% off its all-time high, the panel takes on the question that's all over the headlines: is Strategy breaking the Bitcoin market? The conversation works through Strategy's preferred-share stress, its cash runway, an ETF holder base now underwater for the first time this cycle, the capital rotation into AI and the DRAM trade, and a hotter-than-expected May PCE print, before closing on what t ...