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 17th, 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, back with another Friday 5 today.

We've got big macro wobbles.

Weird stable coin trillion. to bit.ly slash breakdown pod. All right, friends, back with another Friday 5 today. We've got big

macro wobbles, weird stable coin trillion dollar prints, and a lot more. Without any further ado,

let's dive in. Good morning, crypto, faithful, and welcome to the crypto bear market. I'm just kidding,

it's not a bear market yet, but if you get onto the

Twitter machine, you may believe that it is. We were so back, you know, like a week and a half ago,

making new all-time highs. Now it's all over again. You know, president's got to throw some bombs.

Whenever we get too comfortable, you know, just shake it up a little bit. Like, he throws the grenade and then it's a dud and he goes and picks it back up. It's crazy. It doesn't even ever blow up, but we suffer from it. Just a funny tweet. Well, what if that anonymous guy was right in 126,200 was the cycle top, you know, the old Reddit thing here that said that it would top on exactly

that day. And here we are now back pandering in conspiracy theory. I think that's pretty much

Photoshop. And to be fair, Quentin is also the guy who like on September 15th, uh, went and showed the

seasonality chart and dunked that this was the greatest September ever a day before we

went red for September for the rest of the month. Yeah. I mean, look, you know, ultimately,

the astrology approach to Bitcoin is always a questionable one, you know. We love it. We love it

what it's working in our favor, and we pretend that it doesn't exist when it's not. So we never

really got the opportunity to discuss the $19 billion liquidation wipeout

because we did our show just hours before it happened, obviously, but we've still liquidated

yet another billion since then.

So clearly we didn't get rid of all the leverage when almost $20 billion of it was erased

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