Bitcoin Shrugs Off Crypto's Biggest Hack Ever, and Hyblock's CEO Explains Why

Bitcoin didn't panic. Even after what CoinDesk describes as the largest hack in crypto history, the world's biggest cryptocurrency barely flinched, and that non-reaction is now the story. Hyblock Capital CEO Shubh Varma sat down with CoinDesk's Ray Salmond to explain what the order books were actually saying while everyone waited for a crash that never came.

Varma walked through why Bitcoin held its ground instead of selling off, pointing to what the trading data revealed beneath the surface. He also flagged a specific signal traders should watch in the tug-of-war between spot and perpetual futures markets.

Then came the bigger question: is altcoin season gone for good? Varma makes the case that the rotation traders used to count on may not be coming back. He also asks whether retail investors even need to trade crypto anymore, a striking thought in a market built on their participation.

The conversation widened beyond the hack. Varma weighed in on what a midterm blue wave would mean for crypto policy and whether the booming AI trade is quietly stealing Bitcoin's bull run.

He closed with a contrarian take: a bull case for 2027, a timeline that suggests patience rather than a next-week moonshot. The full discussion is available in CoinDesk's Markets Outlook interview.