It's not that we're rooting for chaos and disaster.

It's that the entire history of humanity shows that there's always some element of chaos and disaster lurking.

Bitcoin is a fundamentally long freedom technology that can help people who have the tools to use it

avoid some of the pain of those situations.

Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by crypto.com, nexo.io, an elliptic, and produced and distributed

by CoinDesk.

What's going on, guys?

It is Saturday, October 24th, and that means it's time for the weekly recap.

And this has been a hell of a week, so let's do a true weekly recap, shall we?

We started the week with the first mini Bitcoin breakout in a while. We kick things off on

Monday around 11,400 per Bitcoin and quickly saw a nudge up to 11,800.

Tuesday all day we were rooting for another price move up to 12,000, and interestingly,

there were a couple discussions happening.

The first was if we did break 12,000, how strong would that movement be?

On Tuesday, I did a show about how there was a wall of sell

orders right around 12,000, and it seemed like we might have our momentum stall out around that

point. But the second and even probably more relevant question was where the new gains were coming

from. And in specific, was this just a move to recycle

gains from the last couple months, particularly from Defi, back into the granddaddy itself

of Bitcoin? In other words, was this basically just the total market cap of crypto recalibrating to the base layer reserve asset of Bitcoin

...