Bitcoin is down about 15% from its highs in typical bull market fashion. But is it more serious than that?

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	Forwarded this email? Subscribe here for more The full post is available to paid members — enjoy a free preview of today’s content! Bitcoin sends warning Bitcoin is down about 15% from its highs in typical bull market fashion. But is it more serious than that? Nik Bhatia Apr 25 ∙ Preview   READ IN APP   Dear readers, Everybody is always humming along until the correction. While prices go up, it’s “can you believe the records bitcoin ETFs are setting?”, but when they decline, panic is often at the fingertips. Today, we’ll reset on the bitcoin market to try and objectively assess where we are. That also means looking at the macro picture, which has significantly changed its tone of late. Reaching you all on a weekly basis has made me a better researcher, but it’s more than just that. Five years ago, 12 hours away from home daily to sit on a trading desk as a fiduciary didn’t necessarily leave a ton of time for reading. As a forever student, I feel genuine momentum on my path to full-time researcher, taking down more books than ever and simultaneously comprehending how much more there is to know. Asking brilliant people questions for our channel isn’t hurting the process either. The goal then becomes to synthesize it all for you and tell you what matters. Let’s reset. River is our Bitcoin exchange of choice. Securely buy Bitcoin with zero fees on recurring orders, have peace of mind thanks to their 1:1 full reserve multisig cold storage custody, and withdraw at any time. Need help? They have US-based phone support for all clients. Now introducing River Link 🔗allowing you to send Bitcoin over a text message that can be claimed to any wallet. Give a gift, pay a friend for dinner, or orange pill your friends, completely hassle-free. Use River.com/TBL to get up to $100 when you sign up and buy Bitcoin. What’s on my mind I promise to get to bitcoin as soon as I can. Yesterday, I sent a somewhat cryptic tweet that would set the scene for this morning’s letter: “We are at the point where the bitcoin move should scare the macro risk longs.” What did I mean?... Subscribe to The Bitcoin Layer to read the rest. Become a paying subscriber of The Bitcoin Layer to get access to this post and other subscriber-only content. Upgrade to paid A subscription gets you: Access to all industry-leading research and charts on bitcoin and global markets. Post comments and join the community. Support our operations.   Like Comment Restack   © 2024 Nik Bhatia 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe