In this episode, Nik breaks down Bitcoin’s strong start to the year as price reclaims key technical levels following a deep but healthy drawdown. He walks through daily, weekly, and structural trend lines to explain why recent higher lows and higher closes matter for Bitcoin’s next move. Nik then zooms out to discuss resistance zones, bull market structure, and what a potential test of the $108,000 to $112,000 range could signal for momentum. He closes with a deeper look at the growing debate around the Federal Reserve, central bank independence, the legacy of Jekyll Island, and why political pressure, market rates, and liquidity dynamics ultimately shape Bitcoin’s long-term path. Link to Nik's Letter: https://thebitcoinlayer.substack.com/p/the-delusion-surrounding-central The Creature from Jekyll Island: https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/091298645X/ref=sr_1_1 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. The Bitcoin Layer is proud to be sponsored by Unchained, the leader in Bitcoin financial services. Unchained empowers you to take full control of your Bitcoin with a collaborative multisig vault, where you hold two of three keys, and benefit from a Bitcoin security partner. Purchase Bitcoin directly into your cold storage vault and eliminate exchange risks with Unchained's Trading Desk. Unchained also offers the best IRA product in the industry, allowing you to easily roll over old 401(k)s or IRAs into Bitcoin while keeping control of your keys. Don’t pay more taxes than you have to. Talk to us today. Visit unchained.com/tbl and use the code TBL10 for a 10% credit towards your first year's account fees. Blockstream delivers cutting-edge Bitcoin infrastructure. Discover the top-rated Blockstream Jade hardware wallet for secure offline storage, and explore the Blockstream Satellite for a seamless offline Bitcoin node experience — all available at the Blockstream Store. Visit: https://store.blockstream.com/discount/TBL for 10% off entire order. ▶️ Subscribe and turn on notifications for TBL on YouTube. Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe Subscribe to The Bitcoin Layer on your favorite podcast platform. Follow TBL on X: https://twitter.com/TheBitcoinLayer Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ️ ₿lock Height 932179 Contribute to The Bitcoin Layer via Lightning Network: thebitcoinlayer@zbd.gg Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc Researcher Demian Schatt's Twitter: https://x.com/demianschatt Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice. Chapters: 00:00 Bitcoin's Strong Start to the Year 00:19 Daily Candles & Current Price Action 01:17 Key Levels & Recent Trends 02:18 Bitcoin's Highest Close Since Thanksgiving 03:52 Historical Downturns & Recent Recovery 05:12 Short-Term Bullish Indicators 06:02 Price Analysis & Market Behavior 09:17 Medium-Term Price Targets & Resistance 10:47 Trend Lines & Bull Market Implications 12:22 Weekly Resistance & Head and Shoulders 13:56 Long-Term Outlook and Exclusive Analysis 14:40 The Jerome Powell & Fed Debate 15:00 History of Central Bank Independence 16:54 The Real Debate: Central Banks & Accountability 17:48 Fed's Priorities: Stability or the People? 19:03 Who Sets Interest Rates? The Market vs. The Fed 20:43 Public Sentiment & Financial History 21:33 The Role of Banks in the Economy 23:04 Central Banks, People, and the Future