What Bitcoin Did
What Bitcoin Did
Danny Knowles
Bitcoin’s Bull Market Is Back | Checkmate
1 hour 27 minutes Posted May 19, 2026 at 4:00 pm.
Is Bitcoin in a bull market
Metrics for a Bitcoin bull market
Realized price and on-chain metrics
Bitcoin recovery timeline and dynamics
Who is moving Bitcoin price
Global macro risks and bond markets
Bitcoin in a changing monetary system
Australia's capital gains tax changes
Pushing back against Australian tax
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Show notes

“We’re in an era where the monetary system is changing. The world is going to look very different on the other side of this thing.”

Checkmate is back on the show to explain why Bitcoin may already be back in a bull market and why the bigger story is not just the price, but the system beginning to crack.

We get into his case that the bottom is likely in, why the $60k flush looked like a real capitulation event, and the levels that matter now. Checkmate breaks down the on-chain data behind his 80% bull-market thesis, why bears may be running out of road, and what happens when sentiment flips from selling rips to buying dips.

We also get into rising bond yields, broken fiscal systems, the end of trust in government debt, Bitcoin vs gold, ETF flows, Strategy/MSTR risk, Coinbase custody risk, and why the world is moving towards assets that sit outside the system.

We then get into Australia’s proposed capital gains tax changes, why Checkmate sees them as a direct attack on savers, builders and young people, and why tax policy may become one of the next major battlegrounds for Bitcoiners.

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