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, April 23rd, and today we are talking about the continued

resurgence of Bitcoin. Before we get into that, however, if you are enjoying the breakdown,

please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into

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All right, friends, well, we are in one of those periods where really every day is just a continuation of the day's story before it. It is a very fast-moving environment, of course,

and I am happy to report that Bitcoin's resurgence continues unabated. Yesterday, Bitcoin

saw a 6% gain, shooting above $93,000 for the first time

since early March. Price is now basically flat year-to-date compared to a 13% drop in the NASDAQ.

Monday's positive price action had suggested that Bitcoin was being used as a vessel for

capital flight and a hedge against further uncertainty. However, Tuesday was a clear relief rally

as the Trump administration stepped back from the brink of a total collapse in world trade.

Stocks were also green on the day with both major indices posting 2.5% gains, which was their

best result in two weeks. Altcoins were hugely reflexive to the upside with multiple tokens

seeing double-digit pumps.

Several big macro news stories hit the tape throughout the day. In the morning, the IMF released

their world economic outlook, downgrading global growth from 2.7% to 1.8%. They also increased

their inflation forecast from 1.9% to 3%. The report predicted a global economic slowdown in stark terms as a

result of the trade war. Not good news for the world, but Bitcoin responded by surging above $90,000.

In an afternoon press briefing, President Trump said that he had no intention of firing Jerome Powell.

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