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
32 snips
Oct 23, 2025 • 1h 35min
THE GREAT AMERICAN RESET: Credit, Industry, and Bitcoin’s Role in What Comes Next
Nik chats with Matt Dines, the Chief Investment Officer at Build Asset Management, who shares insights into the evolving macro landscape. They discuss the Fed's repo market dynamics, the strategic edge of the U.S. banking system over Europe and China, and why gold is rallying amidst changing monetary policies. Dines argues that Bitcoin's current geopolitical role is limited, especially in scenarios involving nations like Argentina. Listen in for a fascinating exploration of credit, liquidity, and the intersection of traditional and digital assets.
24 snips
Oct 21, 2025 • 54min
America’s Grand Strategy: Repo, China, Jensen Huang, & Bitcoin’s Next Move
Nik dives into repo market developments and the Fed's concerns over reserve scarcity. He highlights the geopolitical pivot from LIBOR to SOFR and its impact on money markets. The discussion shifts to America’s reindustrialization strategy, the role of China, and Jensen Huang's views on domestic AI chip production. With liquidity expansion on the horizon, Nik connects these elements to Bitcoin's potential movement, analyzing recent volatility shifts and the importance of support levels. It's a captivating exploration of finance and technology!
39 snips
Oct 16, 2025 • 31min
Repo Market MELTDOWN? Gold’s Move Signals Something BIG
The repo market is showing signs of stress, with rising spreads indicating emerging reserve scarcity. Gold's unprecedented surge toward $4,300 raises serious questions about liquidity and potential crises. The Fed's repo facility activation hints at real funding market stress, while a tighter repo market could impact risk assets like stocks and Bitcoin. Nik connects falling treasury yields to rising gold prices, suggesting a complex web of economic signals that could point to a deeper financial issue. It's a wild ride through macroeconomic turbulence!
24 snips
Oct 13, 2025 • 40min
The Philosophy of Bitcoin & Fiat: Credit, Justice, & Sound Money
Pascal Hügli, an author and podcaster focused on Bitcoin and finance, discusses the philosophical tensions between Bitcoin and the fiat credit system. He explores how stablecoins and central banking reshape money creation and argues that the current credit system is unjust due to centralized control. Pascal presents Bitcoin as a potential relief valve for fiat debasement and highlights the need for an elastic monetary layer on Bitcoin. He also delves into the implications of stablecoins on bank credit creation and the evolving landscape of monetary intermediation.
27 snips
Oct 10, 2025 • 32min
Bitcoin Reacts to Tariff Tensions: What’s Next for Price & Liquidity
Tariffs on China triggered market volatility and a Bitcoin dip after a strong October start. The discussion highlights U.S. re-industrialization and the shift in rare earth investments for national security. Nik analyzes how geopolitical tensions interact with Fed policy and the implications for oil prices and yields. Falling oil prices could reduce inflation, while the flat yield curve suggests stability in Treasury supply. Lastly, Bitcoin's current price action and support levels indicate possible trends after the tariff shock.
35 snips
Oct 6, 2025 • 48min
The Future of Bitcoin Mining: Home Miners, Pools, & Open Source Innovation
Robert Warren, author of The Bitcoin Miners Almanac and Head of Research at Bitcoin Park, dives into the evolving landscape of Bitcoin mining. He discusses how home miners are creatively integrating mining with household utilities like heating and solar power. The potential of open-source R&D to decentralize ASIC design is highlighted, alongside the pros and cons of mining pools versus solo mining. Warren also explores the importance of privacy in pool selection and the integration of mining into energy markets to enhance efficiency and promote sustainability.
15 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.
