In this episode, Demian explains TBL’s analysis of why bitcoin is holding up even as liquidity hit its lowest point of the cycle. He covers how the TBL Liquidity Index works, what a red dot actually signals, and why bitcoin’s own supply and demand have shifted in its favor as the sellers ran out and more than 70% of supply moved into profit. He closes on the three things that would need to ease for liquidity to turn. The Bitcoin Layer and its guests do not provide investment advice.

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