The Bitcoin Layer

In this episode, Nik steps back to assess the massive shifts underway in global markets. With gold surging to record highs, silver collapsing after a historic spike, and Bitcoin struggling versus both gold and the dollar, Nik revisits long-held assumptions about money, Basel III, the Shanghai Gold Exchange, and the end of the WTO era. He explains why gold is reentering the monetary system, how Bitcoin still fits into the layered money framework, and what these changes mean for investors navigating a post-globalization world.

Link to podcast mentioned: https://podcasts.apple.com/us/podcast/bias-the-sequel/id1802258017

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

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⚡ 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.

In this episode, Nik breaks down the Japan “rate check” that sent the U.S. dollar sharply lower and triggered major moves across global markets. He explains how Japan’s bond stress, rising yields, and yen instability forced coordination with the U.S., why the dollar index breaking long-term support matters for liquidity, and how a weaker dollar is pushing stocks and gold higher. Nik closes by connecting the rate check to TBL Liquidity, why Bitcoin has lagged gold so far, and why a sustained dollar breakdown could be a powerful setup for Bitcoin heading into 2026.

📊 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

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⚡ 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.

In this episode, Nik breaks down a massive global macro repricing as gold approaches $5,000, bond markets stabilize, and the world adjusts to a new economic order. He walks through key signals across Bitcoin, Treasuries, inflation expectations, labor markets, and global trade to explain why volatility is falling, liquidity conditions are improving, and why Bitcoin’s muted price action may be a feature, not a flaw, of this transition. Nik ties together Davos rhetoric, Supreme Court tariff dynamics, fiscal math, and capital flows to show how markets are responding to structural change heading into 2026.

Polymarket Link:

• https://poly.market/rXYgPKB

📊 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

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⚡ 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.

In this episode, Nik sits down with Brian McCarthy to break down China’s debt-driven growth model, rare earth leverage, and why central planning has created deep structural risks. They explore how China’s manufacturing dominance masks massive capital misallocation, why rare earths have become a geopolitical pressure point, and how a potential unwind could reshape global markets. The discussion ties China’s internal fragility to global liquidity, geopolitical escalation, and the long-term implications for Bitcoin as a non-sovereign store of value.

Follow Brian's work:

• https://x.com/briangobosox
• https://macrolens.substack.com/
• https://macrolens.com/

📊 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 933274

⚡ 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.

In this episode, Nik breaks down how the Supreme Court’s tariff decision, the administration’s healthcare proposal, and growing pressure on the Federal Reserve are all part of a single fiscal and national security framework. He explains why economic sovereignty, debt servicing costs, and healthcare spending are now central to U.S. policy decisions, and how these forces intersect with interest rates and Fed independence. Nik walks through the unsustainable math behind rising deficits, why lowering rates has become politically unavoidable, and how fiscal stabilization could ultimately support Bitcoin as a long-term store of value heading into 2026.

Polymarket link: https://poly.market/uzPASJ2
James E. Thorne's Tweet: https://x.com/DrJStrategy/status/2011499438125301970

📊 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 932442

⚡ 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.

In this episode, Nik breaks down Bitcoin’s strong start to the year as price reclaims key technical levels following a deep but healthy drawdown. He walks through daily, weekly, and structural trend lines to explain why recent higher lows and higher closes matter for Bitcoin’s next move. Nik then zooms out to discuss resistance zones, bull market structure, and what a potential test of the $108,000 to $112,000 range could signal for momentum. He closes with a deeper look at the growing debate around the Federal Reserve, central bank independence, the legacy of Jekyll Island, and why political pressure, market rates, and liquidity dynamics ultimately shape Bitcoin’s long-term path.

Link to Nik's Letter: https://thebitcoinlayer.substack.com/p/the-delusion-surrounding-central

The Creature from Jekyll Island: https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/091298645X/ref=sr_1_1

📊 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 932179

⚡ 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.

In this episode, Nik Bhatia and Demian Schatt step back from short-term liquidity signals to examine the global balance sheet and its implications for Bitcoin. They break down why global wealth has decoupled from GDP, how financialization and credit expansion reshaped the world economy, and why policymakers have become increasingly resistant to prolonged contraction. Nik explains how Bitcoin fits into a system with nearly $1 quadrillion in existing net worth, why adoption and credit expansion matter more than simple rotation narratives, and what this framework means for Bitcoin’s long-term trajectory.

Link to article: https://www.mckinsey.com/~/media/mckinsey/industries/financial%20services/our%20insights/the%20rise%20and%20rise%20of%20the%20global%20balance%20sheet%20how%20productively%20are%20we%20using%20our%20wealth/mgi-the-rise-and-rise-of-the-global-balance-sheet-full-report-vf.pdf

📚 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 931466

⚡ 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.

In this episode, Nik explains why US Treasury stability is critical for sustained Bitcoin strength by walking through repo markets, bond volatility, and Fed balance sheet dynamics. He breaks down how year-end funding stress, Treasury issuance choices, and inflation trends shape liquidity conditions across the system. Nik shows why stable repo rates and calmer bond markets matter for leveraged Bitcoin buyers, how housing and energy costs feed into inflation expectations, and what improving Treasury stability could mean for Bitcoin as 2026 begins.

📚 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 931187

⚡ 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.

In this episode, Nik sits down with Dr. André Dragosch of Bitwise to break down why large institutional capital is lining up behind Bitcoin heading into 2026. They explore ETF flows, treasury company demand, wirehouse adoption, & why Vanguard’s green light marks a major shift in access for traditional investors. André explains how global growth expectations, bond market stress, & falling confidence in sovereign debt are reshaping capital allocation, setting the stage for Bitcoin to push toward new all-time highs as long-term selling fades and institutional demand accelerates.

Find André's work here:

• https://andredragosch.start.page/

📚 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 929178

⚡ 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.

In this episode, Nik sits down with astrophysicist and mathematician Dr. Stephen Perrenod to break down Bitcoin’s power law, bubble behavior, and why the familiar four year cycle framework no longer holds. They explore how Bitcoin trades relative to long term trend, why volatility is structurally declining, and how new tiers of capital shape bubble timing through log periodic behavior. Stephen explains why 2025 was not supposed to produce a bubble, why 2021 was a harmonic rather than a peak, and why the next major Bitcoin bubble may arrive closer to 2027 as deeper capital pools emerge.

Other Episodes:

• https://www.youtube.com/watch?v=ugQEEM06ZfE
• https://www.youtube.com/watch?v=RUxuuibXQG4

📚 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 928587

⚡ 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.