Jamie Coutts, Chief Crypto Analyst at Real Vision, joins to break down why Bitcoin’s current bull market looks nothing like the cycles of the past — and what that means for investors navigating the storm ahead. From shifting liquidity regimes to the rise of Bitcoin treasury companies, Jamie reveals how debt, deficits, and central bank policy are reshaping crypto’s place in the global financial system. In this conversation, we dig into why the classic 4-year cycle is breaking down, how fiscal dominance is rewriting the rules of markets, and why Bitcoin’s next explosive volatility may decide the winners and losers of the treasury “arms race.” Jamie also explains where Ethereum and other large-cap cryptos fit into this moment, and what the battle between Trump, Powell, and global liquidity means for the future of money.