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 Monday, December 9th, and today we are doing all sorts of stuff.

We're checking in on the price. We are talking about Coinbase. We're doing a little macro in the

Hot Jobs report. But before we get into all of that, 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, we are digging deeper into December closer to the end of the year, and we're

kicking off the week with a little bit of a price check-in. After a pretty choppy weekend, Bitcoin

heads into its first Monday trading near $100,000. A brutal liquidation

cascade on Thursday set the stage for a volatile weekend. Bitcoin traded both 102K as well as 99K,

but the trend was generally a little bit of a drift upwards. Still, in all of that volatility,

we got the highest ever daily and weekly close at 101,000 on Sunday afternoon. Thursday's price action

generated one of the largest Darth Mall candles in years, reminiscent of the Bitmax era.

Price plunged to almost 92K with over 560 million in liquidations on both sides of the market that

day. Rachel Lucas, an analyst at Crypto Exchange BTC Market said,

market makers and large players often use these conditions

to their advantage, first pushing the price above 100K, attracting retail enthusiasm, and then

reversing it sharply to liquidate leveraged positions on both sides, long and short.

Still overall, weekend liquidations were extremely mild. Both funding rates and open interests

have reset to level from before the 100K break. The reset could mean traders are less

eager to lever up the next breakout, leading to a more sustainable move above 100K. The liquidation

...