In this episode, Nik Bhatia sits down with James Check (Checkmate) to break down the latest shifts in Bitcoin market structure, sentiment, and investor behavior. They explore how the macro landscape and price action are shaping this phase of the bull market, with an emphasis on derivatives, MVRV, and the psychology of unrealized losses. The conversation highlights the transition from mining-driven cycles to behavior-driven dynamics and how corporate treasury strategies are now influencing Bitcoin’s long-term trajectory. Nik and James discuss what recent price ranges reveal about investor confidence and why patience remains key in navigating evolving market conditions.
Follow Checkmate's work: https://www.checkonchain.com/
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📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
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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 Understanding Bitcoin's Role in Global Market Shifts
00:05:30 Bitcoin Market Trends and Price Analysis
00:10:17 Resilience of Bitcoin Holders
00:15:35 Bitcoin Market Cycles and Metrics Explained
00:21:24 Understanding ETF Market Dynamics
00:25:28 Understanding Bitcoin's Market Dynamics
00:30:30 Market Dynamics and Investor Behavior
00:35:46 Covered Call Strategies in the Crypto Market
00:40:31 Understanding Bitcoin Capital Flows and Market Dynamics
00:45:22 Understanding Heat Dynamics
The Bitcoin Layer and its guests do not provide investment advice.
