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 Wednesday, October 30th, and today we are talking about Hong Kong,

the Gensler saga, crypto missing from a Treasury report, and much, much more.

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All right, friends, well, we were in one of those moments where we have to always start with a

quick check-in on Bitcoin's price. Yesterday saw momentum and a spike in volume push Bitcoin

towards all-time highs. It stopped short at 73,600, according to BitStam's price

feed, less than $200 from the top tick back in March. Overnight trading saw Bitcoin hold

above 72,000 with only a couple of brief slips below. That's a higher level than Monday night,

and support seemed rock solid. The time spent above this level now is measured in hours, not days.

It was only sustained overnight once before way back in March. What's more, the Bitcoin ETF saw almost $5 billion

in volume yesterday in the top three trading days since April. Total net inflows were a monstrous

$870 million, with BlackRock piling up more than $640 million by themselves. This was the third

largest day for BlackRock

since launch, and the biggest combined day since June. Although Bitcoin is inching towards all-time

highs, the timeline is still eerily quiet. Fabrizio Renaldi, the founder of typefully tweeted,

Bitcoin is currently at a price that a few years ago would have made my timeline go completely

wild. I've not read a single tweet about it now. Makes me bullish. It's getting

normal. Indeed, the collective silence to avoid jinxing this rally became a meme. With many tweeting,

...