# Leverage Flush, Big Rebound, and Why the Thesis Still Holds

Page: https://stenobird.com/podcast/swan-signal-live-a-bitcoin-show-479149/leverage-flush-big-rebound-and-why-the-thesis-still-holds
Text version: https://stenobird.com/podcast/swan-signal-live-a-bitcoin-show-479149/leverage-flush-big-rebound-and-why-the-thesis-still-holds.md
Podcast: [Swan Signal Live - A Bitcoin Show](https://stenobird.com/podcast/swan-signal-live-a-bitcoin-show-479149)
Published: 2026-02-06T22:01:38+00:00
Episode link: https://swansignalpodcast.com/episodes/leverage-flush-big-rebound-and-why-the-thesis-still-holds-6X6bTufq
Audio file: https://cdn.simplecast.com/audio/6b4113f8-61fd-4976-a3e6-4d8ed2143233/episodes/2794fd97-110c-47f1-bb6a-c28ae67a3355/audio/5f4a1edb-22f6-4805-ab0a-bd341b4ced6b/default_tc.mp3?aid=rss_feed&feed=Z1tu2Hds
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JSON: https://stenobird.com/v1/public/podcasts/swan-signal-live-a-bitcoin-show-479149/episodes/leverage-flush-big-rebound-and-why-the-thesis-still-holds
Duration seconds: 3456

## Resource

Brady Swenson and John Haar unpack Bitcoin’s brutal drawdown and rapid rebound, arguing the thesis remains intact if you drop leverage and extend your time horizon. They contrast Bitcoin’s long-term adoption and “knowledge arbitrage” with media critics, explore liquidation/unwind theories, and highlight Lightning’s quiet progress via major payment milestones.

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## Transcript

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