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.

What's going on, guys? It is Friday, October 10th, and that means it's time for the Friday 5. Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. All right, friends, welcome back to another Friday 5. This was an

interesting one. In the beginning of this episode, I get more surprisingly bullish about Bitcoin

price action for the rest of the year than I would have thought. So if you want to see me go down

a potentially interesting thought process around what bubble talk means for Bitcoin,

while without any further ado, let's dive in.

What's happening? You know, man, it's so over, we're so back. It's so over. We're so back.

It's over. We're so back. It's over. We're so back. At 120, we're going to zero. And at 125, we're going to 185. It's science. Indeed. It's the great conundrum of our existence and a thing that gives our day's meaning and purpose to debate.

So what do you make of this price action? Obviously, we did have Bitcoin somewhat sweep the all-time high with a shocking lack of conviction and then drop back down temporarily below 120,000.

Obviously, all the technical analysts and chart guys are screaming that if you want to break out,

you want it to look powerful, have a ton of volume, have a ton of follow through.

We didn't really see that.

So I guess that's where a lot of the concern is coming from past cycle.

You know, we saw a 65,000 high and then price briefly hit 69 and then way back down under 20. So I think it just

gives people PATSD. Totally. Yeah. Look, I think that we're in macro world right now, but Bitcoin

is being considered at its own terms in that context. So right now, I think you have the idea of

a debasement trade has surged this week. Now, it had a little bit of a blow

off with gold going down a couple percent over the last few days. But basically, there's now

this sort of big conversation of this idea of the debasement trade, which will seem extraordinarily

familiar for all of you listeners here who have been in crypto for a long time. It's the type

of thing that we've been talking about forever.

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