Episode
Bitcoin Enters Bear Market Behavior, What On-Chain Metrics Are Showing
- Podcast
- The Bitcoin Layer
- Published
- Feb 3, 2026
- Duration seconds
- 2726
- Processing state
not_requested- Canonical source
- https://youtu.be/_FaM-IIt1bg
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Summary
In this episode, Nik sits down with TBL on-chain analyst Johan Bergman to break down Bitcoin’s recent breakdown, sell-the-rip behavior, and the on-chain signals flashing bear market conditions. Johan walks through cost basis models, the AVIV Ratio Mean, short-term holder behavior, and why Bitcoin’s November trend break marked a major regime shift. They discuss ETF flows, forced selling, liquidation dynamics, and where real support may emerge next, while separating long-term conviction from short-term market reality.