Uploaded August 2026 | Updated September 2026, 2 weeks ago
🚨 CHECK OUT TBL PULSE: thebitcoinlayer.com
In this Global Macro Update, Nik covers the financial war he sees playing out across treasuries and currencies, and why bitcoin popped above $67,000 on the back of it. He walks through the trend lines he is watching, and why the zone between $70,000 and $82,000 is the work bitcoin has to do before a technical bull market emerges. Nik explains why he calls Treasury Secretary Scott Bessent the Secretary of Volatility, where he thinks Bessent's lines in the sand sit on the dollar and the ten-year yield, and how the new buyback program functions as a form of yield curve control. He also covers why rates are rising naturally in an AI boom.
The Bitcoin Layer is proud to be sponsored by SOUND HSA. A Health Savings Account is the most tax-advantaged account in the US tax code: contributions are tax-deductible, growth is tax-free, and withdrawals for qualified healthcare expenses are tax-free too. But most people leave their HSA sitting in cash, losing purchasing power year after year. SOUND HSA lets you hold real bitcoin inside your HSA instead. Not an ETF, not a paper claim, but real bitcoin secured in multi-institutional, multi-signature cold storage. Use code TBL to waive the fifty-dollar setup fee. Transfer an existing HSA or open a new one today: soundhsa.com
Timestamps:
00:00 A financial war is going on all around us
02:15 Why price analysis comes first
04:25 bitcoin's rate of change and looking for the turn
06:40 The zone between $70,000 and $82,000
08:58 Bessent, the Secretary of Volatility
11:10 Michael Howell and the school of thought behind TBL liquidity
13:23 The lines in the sand on the dollar and the ten-year
15:27 Why there is no free market in treasuries or currencies
16:19 The buyback program as yield curve control
18:07 Why the signaling matters more than the size
19:47 The repo market and the overnight roll
21:58 Why yields are rising naturally in an AI boom
23:57 Where to find TBL Pulse
📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
▶️ Subscribe and turn on notifications for TBL on YouTube.
🎙 Subscribe to The Bitcoin Layer on your favorite podcast platform.
🐦 Follow TBL on X: /thebitcoinlayer
Nik Bhatia's Twitter: /timevalueofbtc
Researcher Demian Schatt's Twitter: https://x.com/demianschatt
Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB
🚨 CHECK OUT TBL PULSE: thebitcoinlayer.com
In this Global Macro Update, Nik covers the financial war he sees playing out across treasuries and currencies, and why bitcoin popped above $67,000 on the back of it. He walks through the trend lines he is watching, and why the zone between $70,000 and $82,000 is the work bitcoin has to do before a technical bull market emerges. Nik explains why he calls Treasury Secretary Scott Bessent the Secretary of Volatility, where he thinks Bessent's lines in the sand sit on the dollar and the ten-year yield, and how the new buyback program functions as a form of yield curve control. He also covers why rates are rising naturally in an AI boom.
The Bitcoin Layer is proud to be sponsored by SOUND HSA. A Health Savings Account is the most tax-advantaged account in the US tax code: contributions are tax-deductible, growth is tax-free, and withdrawals for qualified healthcare expenses are tax-free too. But most people leave their HSA sitting in cash, losing purchasing power year after year. SOUND HSA lets you hold real bitcoin inside your HSA instead. Not an ETF, not a paper claim, but real bitcoin secured in multi-institutional, multi-signature cold storage. Use code TBL to waive the fifty-dollar setup fee. Transfer an existing HSA or open a new one today: soundhsa.com
Timestamps:
00:00 A financial war is going on all around us
02:15 Why price analysis comes first
04:25 bitcoin's rate of change and looking for the turn
06:40 The zone between $70,000 and $82,000
08:58 Bessent, the Secretary of Volatility
11:10 Michael Howell and the school of thought behind TBL liquidity
13:23 The lines in the sand on the dollar and the ten-year
15:27 Why there is no free market in treasuries or currencies
16:19 The buyback program as yield curve control
18:07 Why the signaling matters more than the size
19:47 The repo market and the overnight roll
21:58 Why yields are rising naturally in an AI boom
23:57 Where to find TBL Pulse
📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
▶️ Subscribe and turn on notifications for TBL on YouTube.
🎙 Subscribe to The Bitcoin Layer on your favorite podcast platform.
🐦 Follow TBL on X: /thebitcoinlayer
Nik Bhatia's Twitter: /timevalueofbtc
Researcher Demian Schatt's Twitter: https://x.com/demianschatt
Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB
