Volatility is asleep. That is the risk. The market is pricing serious macro stress, yet volatility refuses to respond. • GDP just printed +4.4%, the strongest growth in two years • Inflation is stable but sticky with PCE at +2.8% y/y • The Fed is now over 99% likely to hold rates • Gold above $5,000 and Silver above $100 • BTC, ETH, SOL down 10–17% in one week This is not calm. This is compressed tension. Crypto implied volatility is near multi year lows while geopolitical, policy, and positioning risks continue to build. Historically, volatility does not fade quietly. It snaps. The trade setup favors long volatility with delta neutral positioning and exposure to the right tail. Low volatility in a high uncertainty world is the opportunity. Full breakdown and positioning insights below. Read the latest from @genesisvol