The speaker believes Bitcoin is in a bull market and analyzes its current level and potential. They note a resistance level around $116000 that BTC must break through to continue its upward trend. The speaker suggests looking at metrics such as market capitalization to on-chain cost basis. According to the speakers analysis current bitcoin is characterized by strong upward movements followed by seven-month consolidation periods. Another bullish perspective is for gold over bonds as generally beneficiary of fiscal dominance. The speaker also talks about MSTR a company who holds Bitcoin which could provide accelerated bear market activity.