{"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 Liquidity Signal That Called Bitcoin's Drop Is Still Red","slug":"the-liquidity-signal-that-called-bitcoin-s-drop-is-still-red","published_at":"2026-02-18T23:32:37+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444/the-liquidity-signal-that-called-bitcoin-s-drop-is-still-red","show_page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444","url":"https://youtu.be/7fAhxz8GIAg","audio_url":"https://cdn.simplecast.com/audio/93f29295-b98b-46ce-9822-223c512497e8/episodes/fefb79f1-fbe0-4ff6-9692-c3470d5f2726/audio/e3e42634-d9e9-4e8e-9c0c-3478cf6e2718/default_tc.mp3?aid=rss_feed&feed=Y2219Riv","summary":"In this episode, Nik walks through our TBL proprietary liquidity index, explaining why the red signal flagged in late December and confirmed in January preceded Bitcoin's sharp decline below $70,000. He breaks down the four inputs driving the current liquidity contraction, with focus on dollar volatility and bond stress, the US-Japan currency relationship, and why early-cycle US credit growth remains the structural argument for improving conditions ahead.","meta_description":"In this episode, Nik walks through our TBL proprietary liquidity index, explaining why the red signal flagged in late December and confirmed in January pr…","key_points":[],"chapters":[],"topics":[],"duration_seconds":1691,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-bitcoin-layer-7070444/episodes/the-liquidity-signal-that-called-bitcoin-s-drop-is-still-red/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-liquidity-signal-that-called-bitcoin-s-drop-is-still-red.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}