House of the Dragon Season 3 Episode 4 Recap | Daemon LOSES Control of Caraxes

House of the Dragon Season 3 Episode 4 takes a major swing away from Fire & Blood, and it might be one of the most important episodes of the series so far. In this breakdown, we cover Rhaenyra's crumbling grip on power in King's Landing, Ulf the White and Hugh Hammer's growing resentment, and the wild scene between Daemon, Caraxes, and Rhaena in the Vale — including why Caraxes may share a dragon bond with Sheepstealer. We also dig into Ormund Hightower's true motives, Daeron's red hair mystery, and why Aegon II might be building toward a resurrection arc. 🔔 Subscribe for weekly House of the Dragon breakdowns all season 👍 Drop a like if this episode gave you classic Game of Thrones vibes 💬 Let me know your theories in the comments Timestamps: 00:00 – Intro 1:09 – Ormund Hightower takes Tumbleton 3:03 – Ulf the White's mistreatment by the crown 4:57 – Seeds of rebellion: Ulf and Hugh Hammer 7:02 – Daemon's storyline begins: off to the Vale 8:10 – The Caraxes/Sheepstealer sibling dragon theory 9:17 – The cave scene: Daemon and Rhaena 11:15 – What's coming: the road to Tumbleton 12:51 – Daeron's red hair d 14:46 – Aegon II is still alive (barely)