In this episode, Nik is joined by TBL research associate Johan Bergman to analyze Bitcoin’s latest price action and on-chain signals. They break down the bullish engulfing pattern that may mark a trend reversal, explain why high-volume nodes at $105K and $117K act as support and resistance, and discuss the behavior of longs and shorts as positions reset. Johan highlights healthy signals in the derivatives market, including balanced funding rates and short squeezes, while on-chain data shows billions in realized profits and the overhang that must clear before price can break higher. The conversation ties SOPR, funding rates, sell-side risk, and implied volatility together to show how all markets reflect the same human behavior driving Bitcoin’s monetization.

Find charts here: Bitview.space

📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H

📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.

▶️ Subscribe and turn on notifications for TBL on YouTube.
📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe
🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.
📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer
📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial
🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch

⛓️ ₿lock Height 917307

⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected]

Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc
Researcher Demian Schatt's Twitter: https://x.com/demianschatt
Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB

The Bitcoin Layer and its guests do not provide investment advice.