The Bitcoin Layer Global Macro Update: Inflation Cools, Bond Yields Drop, & Bitcoin Reacts
27 snips
Feb 13, 2026 They discuss Bitcoin’s technical resistance as the 200‑day moving average rolls and miner stress after an 11% difficulty drop. They cover the CPI surprise that sparked a Bitcoin bounce and why falling Treasury yields and strong fixed‑income demand matter more in the short term. They also explore global balance sheets, dollar dynamics, and Bitcoin’s potential role in U.S. economic statecraft.
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Difficulty Drop Tightens Network
- A large negative mining difficulty adjustment (≈-11%) suggests miners shut off rigs and excess capacity left the network.
- Bhatia views this as strengthening Bitcoin's network economics going forward.
Rotate With TBL Liquidity Signals
- Use TBL Liquidity to time shorter-term rotations between long and flat Bitcoin positions.
- Nik Bhatia recommends owning T-bills during flat periods to capture risk-free yield.
Time Horizon Changes What Dominates Returns
- TBL's rotation strategy outperforms buy-and-hold on 1–3 year horizons but not beyond five years.
- This implies macro drivers like yields and dollar dominate short-term returns while fundamentals win long-term.
