The Bitcoin Layer
The Bitcoin Layer
The Bitcoin Layer is a premium markets research provider, covering bitcoin through a global macro lens | Research, Analysis, & Education
Featuring Nik Bhatia, author of the #1 Amazon bestseller Layered Money and USC Marshall School of Business professor.
Subscribe to our research publication and YouTube channel to learn about global macroeconomics, bitcoin, Lightning Network, the monetary and financial system, the Federal Reserve, interest rates, and geopolitics. Most importantly, develop a framework for understanding global markets—connect the dots between economic and financial concepts to see the bigger picture. Look no further for your bitcoin and macro education!
Featuring Nik Bhatia, author of the #1 Amazon bestseller Layered Money and USC Marshall School of Business professor.
Subscribe to our research publication and YouTube channel to learn about global macroeconomics, bitcoin, Lightning Network, the monetary and financial system, the Federal Reserve, interest rates, and geopolitics. Most importantly, develop a framework for understanding global markets—connect the dots between economic and financial concepts to see the bigger picture. Look no further for your bitcoin and macro education!
Episodes
Mentioned books
8 snips
Oct 3, 2025 • 22min
BITCOIN PUMPING: Fed Cuts, Liquidity, & The Next Breakout
Bitcoin kicks off October with a strong rally amid shifting macro conditions. Falling interest rates and dollar weakness are enhancing liquidity for both Bitcoin and stocks. The correlation between Bitcoin and traditional markets is crucial as the Fed is expected to lower rates, which could further bolster risk assets. Nik explores how average wage growth signals inflation risks and dives into the complexities of liquidity cycles, emphasizing their short-term benefits versus the long-term advantages of Bitcoin's adoption.
17 snips
Oct 2, 2025 • 42min
Bitcoin Breakout or Fade: $119,000 Test & Market Behavior
Johan Bergman, a research associate specializing in on-chain and derivatives analysis, joins to dissect Bitcoin's recent price movements. They explore the significance of the bullish engulfing pattern, pinpoint critical support and resistance levels at $105K and $117K, and unpack the dynamics in the derivatives market, highlighting balanced funding rates. Johan reveals insights about the health of market conditions and explains how realized profits could impact price action. They also discuss how on-chain metrics echo broader market behavior, revealing the underlying forces driving Bitcoin's trajectory.
9 snips
Sep 30, 2025 • 28min
Saving Satoshi: Learning Bitcoin Through an Interactive Game
Dive into an interactive RPG that makes learning Bitcoin fun! The team discusses how their game teaches concepts like mining, hashing, and cryptography through engaging storytelling. They share insights on overcoming technical hurdles and why focusing on Bitcoin’s protocol is essential. Discover the impact on education, from classrooms to workshops, and the unique design elements that make the game successful. It’s a fresh way to understand Bitcoin beyond its price, perfect for newcomers and developers alike!
21 snips
Sep 25, 2025 • 28min
Global Macro Update: Bitcoin Support, Gold Ratio, & the Fed’s Cuts
Nik provides an insightful global macro update, revealing Bitcoin's critical support levels and low volatility trends. He delves into the Bitcoin-gold ratio, illustrating why Bitcoin continues to outperform traditional assets. Discussions on Fed policy highlight its nuanced impact on credit and liquidity conditions, while analyzing the potential effects of a weaker dollar on global markets. With a keen eye on historical patterns, Nik predicts Bitcoin's long-term trajectory amidst evolving market structures.
18 snips
Sep 24, 2025 • 34min
Bitcoin Price Levels to Watch: Short-Term Holders in Control
Johan Bergman, a research associate specializing in Bitcoin price metrics, dives into the intricacies of Bitcoin's trading dynamics. He reveals how the short-term holder cost basis has influenced price action for three years, and highlights the significance of the $104,000 level. Johan discusses the role of RSI and Bollinger Bands in analyzing market trends, as well as the implications of realized volatility on price behavior. The conversation provides keen insights into support levels and the ongoing impact of institutional demand on the market.
23 snips
Sep 19, 2025 • 40min
The Fed Is NOT In Control: Why Markets Lead & Bitcoin Reacts
The podcast dives into the implications of the Fed's recent rate cut and how markets had already anticipated it. The hosts explain the concept of the Fed's neutral rate and highlight the lag in central bank policies compared to market signals. They explore how liquidity dynamics impact Bitcoin's pricing and discuss historical ties between the Fed and government fiscal strategies. Insights on inflation expectations and the interrelation between monetary independence and fiscal realities add depth to the conversation.
9 snips
Sep 17, 2025 • 22min
Bitcoin & Liquidity Academy 3: Primary Dealers, U.S. Treasuries & the Fed
Nik dives into the intricate U.S. Treasury market and the pivotal role of primary dealers. He unpacks how the Federal Reserve manages its balance sheet through quantitative easing and tightening. The discussion highlights how treasuries transition from issuance to investor portfolios, along with the concept of liability-driven investing. Gain insights into how these elements shape the long-term demand for treasuries and Bitcoin's significance within the larger liquidity framework.
21 snips
Sep 15, 2025 • 29min
How Bitcoin Is Powering a New Credit Market
In this discussion, Dhruv Patel, CEO and co-founder of Arch Lending, shares insights on the emerging world of Bitcoin-backed lending. He explains how overcollateralization allows individuals and institutions to leverage Bitcoin without rehypothecation. The conversation dives into risk management, interest rates, and the legitimacy Bitcoin gains through credit markets. Dhruv also highlights strategic borrowing against Bitcoin and the transformative potential of these loans for economic growth.
33 snips
Sep 12, 2025 • 38min
Bitcoin Hits $116,000 as the Fed Eyes Rate Cuts
The discussion kicks off with how the Federal Reserve's rate cuts are influencing the markets, particularly Bitcoin, which recently soared past $116,000. Unpacking U.S. labor market trends reveals intriguing insights into rising unemployment and inflation pressures. The conversation shifts to the effects of Treasury yields and a growing interest in gold amid a global monetary reorientation away from the dollar. Finally, MVRV signals hint at a bullish trend for Bitcoin, suggesting a potential exciting trajectory ahead for the cryptocurrency.
18 snips
Sep 8, 2025 • 26min
Bitcoin & Liquidity Academy 2: How $37 Trillion in US Debt Shapes Global Markets
Delve into the fascinating world of fixed income securities and their pivotal role in capital markets. Discover how loans transform into securities and explore the vast $120 trillion bond market. Unravel the connection between U.S. Treasuries, GDP, and the overall economic landscape. The intricate dynamics of global monetary policy and the collaboration of central banks also come to light. Finally, examine the crucial ties between tax receipts and national debt, setting the stage for future liquidity discussions.
