What Bitcoin Did

Bitcoin’s New Era: Liquidity, Macro, and the End of Four-Year Cycles | Nik Bhatia

Nik Bhatia breaks down why Bitcoin may have broken free of its four-year cycle and what that means for the next decade. We discuss Bitcoin's market maturity, compressed volatility, and how new corporate demand are reshap...

2025-07-25

Episode notes

Nik Bhatia breaks down why Bitcoin may have broken free of its four-year cycle and what that means for the next decade.


We discuss Bitcoin's market maturity, compressed volatility, and how new corporate demand are reshaping price dynamics — and why this could mean an end to drawn out bear markets and blow-off tops.


We get into how macro forces like liquidity, rate policy, and U.S. fiscal dominance intersect with Bitcoin, whether Powell vs. Trump really matters, and why Bitcoin could hit $1 million by 2032.


In this episode:



  • Why the four-year halving cycle may be over

  • How corporate treasury strategies are changing Bitcoin’s market structure

  • The role of liquidity and treasury markets in driving Bitcoin price

  • What Powell vs. Trump means for rates, inflation, and Bitcoin


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