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.

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What's going on, guys? It is Tuesday, January 17th, and today we are talking about Bitcoin back over 21,000.

Is it a bulltrap or are we back?

Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

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bit.ly slash breakdown pod. All right, everyone, it was a long holiday weekend. I hope you

had a great time. And whether you did or not, you will have hardly failed to notice that as those

Friday long weekend spirits took hold, Bitcoin was

relative to the last few months, especially, absolutely popping off. On Friday alone, Bitcoin

moved from under 19,000 to over 20,000. And all in all, Bitcoin finished the weekend above 21,000

for the first time since November. That closed a week that

saw more than 20% gains, with multiple days seeing increases of over 5%. The high was put in on

Monday afternoon just shy of 21,500 after holding stable above 20,500 throughout the weekend.

This means that the total crypto market cap is now above $1 trillion again.

And overall, for the month, Bitcoin is showing an optimistic 28% gain so far. What's more,

Bitcoin has been rising for 13 straight days, which, according to data from Bloomberg,

is one of its longest streaks since November 2013. According to bespoke investment group,

Bitcoin is trading above its 50-day moving average as well as its 200-day moving average.

Its 14-day relative strength index is at 91, which puts it pretty far into, quote, overbought territory.

Volume has been up as well, over 150% of the average of the past 50 days. So today, what we're

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