Podcast Episodes
Back to SearchThe rally off $60K: bullish taker demand is back, Funding Rate remains positive
Episode 191
The bounce off $60K is being driven by returning buyers, not a short squeeze. Taker Buy Sell Ratio closed above 1.0 in 8 of the last 10 days, while F…
3 months, 3 weeks ago
Bitcoin is moving onto exchanges and increasing sell pressure, while stablecoins are leaving
Episode 190
This brief is about the reversal in flows from May to the present. The logic is simple: BTC inflows to exchanges increase supply pressure, while stab…
3 months, 4 weeks ago
The Puell Multiple is declining - miners are entering the stress zone
Episode 189
Miner metrics have entered a stress zone comparable to post-halving drawdowns, but the market has not yet reached a full-scale capitulation on the sc…
3 months, 4 weeks ago
$12B Left the Network, Loss-Taking Sales Dominate
Episode 188
Capital is leaving the Bitcoin network, and participant behavior confirms a capitulation regime - sales are being made at a loss. This brief examines…
4 months ago
22 Days of Net Losses: MVRV Z Cooled to 0.32
Episode 187
For 22 straight days, the market has been realizing net losses. But MVRV Z has already cooled to 0.32, versus a historical average of 1.71.
Stress is …
4 months ago
Price is rising, Open Interest is falling: a rebound without new leverage
Episode 186
Bitcoin bounced 3.7% off $60K, but Open Interest fell 6% with positive funding - a short-covering rebound, not new leverage. Watch OI for confirmatio…
4 months ago
Bitcoin Tests the February Low: $7B in Losses, Nearest Support $54K
Episode 185
Bitcoin is testing the February low, while the current net realized loss of -$7B is already heavier than it was directly at the February price low. A…
4 months ago
$62K Under Pressure Again: Fear at the Extreme
Episode 184
Over the past month, Bitcoin has pulled back after the May recovery and returned to a test of the February low at 60K - the level that became the loc…
4 months ago
Bearish impulse accelerated to -59: taker-order pressure is moving negative again
Episode 183
Over the past month, the market has pulled back from the May highs to February levels. Both charts capture the same reversal, but at different speeds…
4 months, 1 week ago
The May Rally Has Been Erased: Bitcoin Under Pressure From Spot and Futures
Episode 182
Since the start of May, the market regime has completely reversed. What previously pushed price higher is now working against it. Two charts show how…
4 months, 1 week ago