Monday, March 16, 2026

I've Started Stacking Again

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I've Started Stacking Again

Despite the war and elevated volatility, I'm back on the buyer side. Taking my Jane Street bottom call and putting it into action.

Nik Bhatia

Mar 16

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Dear Readers,

I’m not the DCA type. It’s a great strategy for many…to set it and forget it. In many ways, it’s the wise strategy because it removes emotion and the countless behavioral biases that we know to be universal.

I’ve also been investing in The Bitcoin Layer, so admittedly, the marginal dollars flow into trying to bring you the best research product. But everyone has their own approach to investing.

Some like to “sling it around,” meaning they move from one asset to the next in search of the 10-baggers. They play in the options market and even get involved in leveraged trading. Others dollar-cost average (DCA), or just allocate as the go to a mix of stocks and bitcoin. But I have a feeling that most of you, and by our surveys and demographic studies, we have a decent idea of our reader makeup. Investing is a process, and allocations shift around with your understanding of how the world works.

Together, we meet at TBL, assessing how global macro is affecting bitcoin, and how the case for ‘bitcoin investing’ ebbs and flows over the years. Today, with so much happening around the world, I would like to explain to you why bitcoin’s asymmetric returns are more attractive today than anytime since 2023, when bitcoin was just shaking off the FTX catastrophe and inching toward a defeat of the SEC and ETF approval.

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Restack

Bitcoin’s Recovery Has Started, But Patience Still Matters

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Bitcoin’s Recovery Has Started, But Patience Still Matters

The first real improvement in demand is here, but the road back is unlikely to be quick or clean

Ecoinometrics

Mar 16

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For the first time since November, Bitcoin is showing a sustained improvement in demand.

That does not mean the market is fully repaired. But it does mean something important has changed. For months, every attempt at stabilization happened against a backdrop of weak or fading ETF demand. Now that picture is starting to improve.

That’s key given that ETF flows remain one of the clearest real-time signals of whether capital is actually coming back into Bitcoin. And if demand is no longer deteriorating, then the question for investors changes as well.

It is no longer just about whether Bitcoin can hold the line. It is about what kind of recovery this improving demand could support, how quickly it could unfold, and how much patience investors may still need along the way.

So let’s look at the data.

Ecoinometrics delivers professional-grade crypto and macro analysis to help institutional investors and serious traders make data-driven decisions.

Our team conducts rigorous quantitative research, developing proprietary metrics and institutional-quality visualizations that cut through the noise to reveal key market dynamics.

Each newsletter provides clear, actionable insights backed by data, delivered in a concise format that respects your time - five minutes to absorb, but deep enough to inform your investment strategy.

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Bitcoin’s Recovery Has Started, But Patience Still Matters

The Takeaway

Bitcoin is finally showing its first meaningful improvement in demand since November, with cumulative ETF flows turning higher after months of deterioration...