Uploaded June 2026 | Updated September 2026, 2 weeks ago
🚨 CHECK OUT TBL PULSE FOR FREE: research.thebitcoinlayer.com
In this episode, Nik welcomes Michael Sullivan, a bitcoin researcher who analyzes market sentiment through language. Michael explains how he runs natural language models across thousands of tweets, cohorting bitcoiners into newer retail accounts versus longer-term holders, to measure moods like anger, conviction, optimism, and apathy over time. He covers why bitcoin is in one of the most prolonged anger regimes on record, why Michael Saylor has become the main target of that disapproval, and how the current mix of low engagement, fading excitement, and apathy resembles the conditions you tend to see near a market bottom. Nik and Michael also discuss the AI trade pulling mindshare from bitcoin.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
Timestamps:
00:00 Sentiment analysis as a fourth lens on the market
01:52 Finding stories hidden in language
03:12 How the mood models work
05:03 Plebs anger and one of the longest angry regimes on record
07:23 The AI trade lapping bitcoin
10:09 Why AI and global macro are becoming one
12:16 The current mood and its cyclicality
16:03 Saylor as the main target of disapproval
18:37 Excitement, volatility, and the roller coaster
19:56 Why Twitter data over podcasts
22:31 The signal: fading the current narrative
24:14 What to watch for when optimism returns
26:54 Where sentiment fits alongside other frameworks
30:14 Where to find Michael
📊 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 FOR FREE: research.thebitcoinlayer.com
In this episode, Nik welcomes Michael Sullivan, a bitcoin researcher who analyzes market sentiment through language. Michael explains how he runs natural language models across thousands of tweets, cohorting bitcoiners into newer retail accounts versus longer-term holders, to measure moods like anger, conviction, optimism, and apathy over time. He covers why bitcoin is in one of the most prolonged anger regimes on record, why Michael Saylor has become the main target of that disapproval, and how the current mix of low engagement, fading excitement, and apathy resembles the conditions you tend to see near a market bottom. Nik and Michael also discuss the AI trade pulling mindshare from bitcoin.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
Timestamps:
00:00 Sentiment analysis as a fourth lens on the market
01:52 Finding stories hidden in language
03:12 How the mood models work
05:03 Plebs anger and one of the longest angry regimes on record
07:23 The AI trade lapping bitcoin
10:09 Why AI and global macro are becoming one
12:16 The current mood and its cyclicality
16:03 Saylor as the main target of disapproval
18:37 Excitement, volatility, and the roller coaster
19:56 Why Twitter data over podcasts
22:31 The signal: fading the current narrative
24:14 What to watch for when optimism returns
26:54 Where sentiment fits alongside other frameworks
30:14 Where to find Michael
📊 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
