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, BitStamp, and nexo.io, and produced and distributed by CoinDesk.

What's going on, guys? It is Saturday, August 8th, and that means it's time for the

breakdown weekly recap. This week's episode is pretty simple, man. It is about that

bull market vibe that you are feeling. I want to reflect

just briefly on what's driving it, what evidence there is, and what might happen next.

First of all, evidence for this, there's obviously a price to mention. We saw Bitcoin get up

over 12 briefly before having a dump, but it still had this

great week of around 11,700 for a couple days. Admittedly, I am recording this on Thursday,

so I'm not sure what happened on Friday and Saturday morning, but it's still a really good,

solid look, and it feels like something has been reset, where maybe

11,000 is now the new bottom. Part of the reason for that, certainly popular narrative-wise,

at least has to do with the dollar. The dollar is going through a long period of retreat

after a huge explosive growth right after the crisis

in the beginning of March. The DXY, which is the dollar index that measures it against a

basket of other currencies, is down again on Thursday to around 92. It was at 97 a few weeks

ago and got as high as 102 earlier in the year.

Some think that this is really more of a story of the euro's strength than it is of the dollar's

weakness, and there's some evidence of that.

And if you want that perspective, I recommend going and following Jeff Snyder, who is always

going to have interesting things to say.

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