{"podcast":{"title":"The Bitcoin Layer","slug":"the-bitcoin-layer-7070444","podcast_index_feed_id":7070444,"rss_url":"https://feeds.simplecast.com/Y2219Riv","website_url":"https://mysoundwise.com/soundcasts/1665708396190s","image_url":"https://image.simplecastcdn.com/images/31efc846-0793-410a-9634-9cbb9ab441fd/a42dcdab-5758-48ca-b40a-791279675300/3000x3000/b_black_500x500.jpg?aid=rss_feed","author":"The Bitcoin Layer","episode_count":285,"summary":"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!","last_synced_at":"2026-07-31T20:19:22.621040+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444"},"episode":{"title":"Bitcoin Enters Bear Market Behavior, What On-Chain Metrics Are Showing","slug":"bitcoin-enters-bear-market-behavior-what-on-chain-metrics-are-showing","published_at":"2026-02-03T02:52:30+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444/bitcoin-enters-bear-market-behavior-what-on-chain-metrics-are-showing","show_page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444","url":"https://youtu.be/_FaM-IIt1bg","audio_url":"https://cdn.simplecast.com/audio/93f29295-b98b-46ce-9822-223c512497e8/episodes/d78b6215-7567-47f9-91f3-e5a595c36442/audio/debd8e33-b04d-40cd-a6a3-080c98b889c8/default_tc.mp3?aid=rss_feed&feed=Y2219Riv","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.","meta_description":"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 s…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2726,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-bitcoin-layer-7070444/episodes/bitcoin-enters-bear-market-behavior-what-on-chain-metrics-are-showing/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444/bitcoin-enters-bear-market-behavior-what-on-chain-metrics-are-showing.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}