In this episode, Nik breaks down the current macro landscape through the lens of Bitcoin, interest rates, and market liquidity. He shares new insights from TBL’s proprietary liquidity index, revealing how quarterly cycles in the Treasury market are shaping Bitcoin’s price behavior. Nik also unpacks key valuation metrics like the Mayer Multiple and MVRV, and explains why Bitcoin’s current range suggests a stable foundation. The update covers bond volatility, yield curve dynamics, Fed expectations, gold, oil, and the dollar—placing it all within the broader context of a global monetary reset.

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Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc

Creative Director Matthew Ball's Twitter: https://twitter.com/matthewrball

Researcher Demian Schatt's Twitter: https://x.com/demianschatt

Chapters:

00:00:00 Bitcoin Price and Global Macro Overview  

00:02:58 Treasury Market's Impact on Stocks and Bitcoin

00:05:44 Revaluing the Economy in Bitcoin

00:08:24 Analyzing Bitcoin Valuation with Mayor Multiple

00:11:33 Understanding Bitcoin's Cost Basis and MVRV  

00:14:30 Geopolitical Tensions and Economic Growth Analysis

00:17:21 Understanding the Steepening Yield Curve and Economic Signals

00:20:27 Yield Curve Insights: Signal Loss and Economic Indicators

00:23:10 Understanding Bretton Woods 3 and the Monetary Reset

00:26:08 Anticipated U.S. Regulation on Currency Manipulation

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