Welcome to The Bitcoin Layer, where we bring you research, analysis, and education for all things bitcoin and macro. In this episode, Nik summarizes the latest developments in financial markets and the global economy. He discusses the strong readings in the US services sector that is challenged by terrible mortgage applications and a weakening consumer. Also covered are Europe's ugly recession and China's property sector defaults which both bring the danger of dollar strength. New YouTube videos M/W/F — New Substack posts T/R/S The Bitcoin Layer is brought to you by River and Foundation Devices. Visit https://river.com and start buying today, or visit https://river.com/TBL for $5 free when you sign up and buy $100 in Bitcoin. Go to https://thebitcoinlayer.com/foundation to receive $10 off your purchase of a Passport by Foundation Devices, the most intuitive bitcoin wallet on the market today. Subscribe to TBL on Substack: https://TheBitcoinLayer.substack.com Follow TBL on Twitter: https://twitter.com/TheBitcoinLayer Follow TBL on LinkedIn: https://linkedin.com/company/TheBitco... Follow TBL on Instagram: https://instagram.com/TheBitcoinLayer Follow TBL on TikTok: https://www.tiktok.com/@thebitcoinlayer Subscribe to The Bitcoin Layer on your favorite podcast platform. Subscribe and turn on notifications for TBL on YouTube. Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch Sign up for the free Monetary History course on @SaylorAcademy : http://sylr.org/MonetaryHistory Contribute to The Bitcoin Layer via Lightning Network: thebitcoinlayer@zbd.gg Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc Research Associate Joe Consorti's Twitter: https://twitter.com/JoeConsorti Creative Director Matthew Ball's Twitter: https://twitter.com/matthewrball Block Height 806527 #TheBitcoinLayer #NikBhatia #JoeConsorti #PMI #Services #Manufacturing #Morgage #Morgages #Consumerloans #ConsumerSpending #CorporateBond #CorporateBonds #InterestRates #Euro #Yuan #Inflation #Futures #Stocks #StockMarket #Yields #USGoverment #Bonds #BondMarket #Volatility #TradingView #Trading #Charts #ChartPack #Debt #Statistic #Rates #Interest #Expense #10year #Premium #Treasury #Global #LiquidityIndex #Asset #Bitcoin #Dollar #Sats #BTC #Market #Currency #Crypto #Analysis #Investment #News #Finance #Education #Blockchain #Mining #BitcoinMining #Macro The Bitcoin Layer and its guests do not provide investment advice. Chapters: 00:00:00 - State of the U.S Economy 00:02:56 - Manufacturing and Employment 00:05:43 - Near Record Corporate Bond Issuance 00:08:37 - Corporate Markets and Mortgage Applications 00:11:22 - Slowing US Consumer Spending 00:14:22 - The Complexity of Economic Data Analysis 00:17:06 - European Economic Recession and Weakness in the Euro 00:19:51 - The Impact on the Euro Market 00:22:33 - Weakness in China's Currency

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