{"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":"The $45,000 Bitcoin Everyone Fears Is Getting Less Likely","slug":"the-45-000-bitcoin-everyone-fears-is-getting-less-likely","published_at":"2026-07-22T15:00:00+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444/the-45-000-bitcoin-everyone-fears-is-getting-less-likely","show_page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444","url":"https://mysoundwise.com/soundcasts/1665708396190s","audio_url":"https://cdn.simplecast.com/media/audio/transcoded/8ed6a33d-2ac9-4ae6-bdbb-334a1cbb3f52/93f29295-b98b-46ce-9822-223c512497e8/episodes/audio/group/e038b814-bf05-46c6-b072-204b74c126de/group-item/927ea744-3833-4d48-9d8f-58158f90a0aa/128_default_tc.mp3?aid=rss_feed&feed=Y2219Riv","summary":"In this episode, Nik walks through the latest bitcoin research from Johan Bergman, head of bitcoin research at The Bitcoin Layer, using the charts inside TBL Pulse. He explains Johan's state grid, which plots bitcoin on valuation and trend, and why the framework currently places bitcoin in disbelief territory, a zone where, together with capitulation, bitcoin has spent roughly 40% of its life. Nik covers why bulls bracing for $45,000 are facing data that makes it less likely, and why the 200-day moving average near $73,000 stands as the final boss of the downtrend. He closes on why not retesting the realized price this cycle would signal a maturing bitcoin market. The Bitcoin Layer and its guests do not provide investment advice.","meta_description":"In this episode, Nik walks through the latest bitcoin research from Johan Bergman, head of bitcoin research at The Bitcoin Layer, using the charts inside…","key_points":[],"chapters":[],"topics":[],"duration_seconds":3080,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-bitcoin-layer-7070444/episodes/the-45-000-bitcoin-everyone-fears-is-getting-less-likely/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/the-45-000-bitcoin-everyone-fears-is-getting-less-likely.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}