Josh Lim joins Matt from the FalconX trading desk to unpack crypto market's cautious positioning ahead of Powell's Jackson Hole speech.

With markets pricing in an 85% chance of September rate cuts, traders are derisking with put spreads and rotating out of large-cap names while eyeing treasury-backed alts ahead of Q4. Josh explains why crypto now moves with macro liquidity cycles - and why history suggests an October setup could spark the next altcoin rally.