Stephen Alpher

Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Stephen Alpher

Latest from Stephen Alpher


Markets

Hyperliquid pulls back from record highs as Arthur Hayes exits position shy of $150 price target

The crypto veteran blamed macro risks and AI mania for taking profits, drawing backlash from traders for selling well below his recent bullish forecasts.

Arthur Hayes Consensus Miami 2026

Markets

Strategy's Saylor's explanation for bitcoin's slide isn't what bears think

Bitcoin's drop reflects capital rotation into AI, Saylor argues, but the bears have a darker reason.

Strategy Executive Chairman Michael Saylor standing. (Nikhilesh De/CoinDesk))

Markets

Bitcoin bounces, HYPE falls, NEAR gets demolished as crypto deals with a wipe out

Amid the crypto price crash, a handful of tokens have been performing well, but they're tumbling now as Arthur Hayes exits.

Strategy Executive Chairman Michael Saylor in 2021 (Photo by Joe Raedle/Getty Images)

Markets

Live markets: Bitcoin selloff stalls as key indicator signals oversold conditions

Bitcoin rebounded to $64,000 after a sharp selloff, with the move reflecting a typical bounce from oversold conditions rather than a confirmed trend reversal.

(Getty Images)

Advertisement

Markets

Bitmine's Ethereum bet nears $9 billion loss as ether falls below $1,800

Shares of Tom Lee's Ethereum treasury firm hit their lowest level since the company's crypto pivot as ETH revisits the February lows.

Tom Lee, chairman of Bitmine and cofounder of Fundstrat, speaking at Consensus 2026 in Miami (CoinDesk)

Markets

Bitcoin isn't crashing because of Saylor, it's losing the momentum trade

Bitcoin's recent weakness reflects a broader rotation into AI, IPOs and other momentum trades rather than concerns about Michael Saylor's bitcoin sales, according to Charles Schwab's Jim Ferraioli.

CoinDesk

Markets

Bitcoin's dearth of fresh investors matters more than Strategy's sale, Citi says

Strategy's bitcoin sale may have rattled markets, but the bigger issue is missing demand from new buyers, Citi said.

Strategy Executive Chairman Michael Saylor at the Digital Asset Summit in New York City on March 20, 2025. (Nikhilesh De)

Markets

Bitwise model puts bitcoin fair value at $224,000 as sovereign-default hedge

The figure is from a theoretical model proposed by Greg Foss in 2021 that treats bitcoin as a credit default swap on G20 sovereign bonds.

target (CoinDesk Archives)

Advertisement

Finance

Kraken parent Payward plans to offer tokenized IPO access as investors await blockbuster debuts

Payward aims to give retail investors access to IPO shares at the offering price through tokenized equities.

Payward and Kraken co-CEO Arjun Sethi. (CoinDesk)

Markets

IREN adds 4% premarket as company unveils 800MW Australian AI data center campus

The AI infrastructure firm secured a grid connection for a planned South Australian campus, with energization targeted for 2028.

An engineer sits at a bank of crypto mining rigs.