TBL Pulse vs TBL Pro

The Short Version

TBL Pulse is a browser-based research dashboard that runs the TBL framework on live data, with a free tier covering the macro liquidity layer and a paid tier covering the proprietary Bitcoin signals. TBL Pro is a written research subscription, authored by Nik Bhatia, that publishes weekly letters and longer monthly research applying the framework to the current cycle. Pro membership includes Pulse paid access.

Most serious readers use both, with Pulse for the live readings and Pro for the written interpretation, the longer thesis, and the monthly TBL/CheckOnChain on-chain reports.

What Each Product Delivers

TBL Pulse is the live data and signal layer. The dashboard carries the [TBL Liquidity Index](/learn/what-is-tbl-liquidity), the Indicator with confirmed signal history, the Wave forecast, the seven-model Master Valuation composite, the AVIV ratio, URPD and URPD IC, cost-basis percentile bands, the cohort metrics, the post-ETF market structure signals, the derivatives stack, the Trend Master with its fourteen components, the cross-asset risk ratios, the credit spread readings, and the regression visualizations. The free tier covers the TBL Liquidity Index, the full Macro tab, and Bitcoin candles with the power-law projection. The paid tier covers the proprietary Bitcoin tab and the live Liquidity signals.

TBL Pro is the written research layer. Members receive weekly letters covering the current state of the framework, longer monthly research building the structural thesis, the monthly TBL/CheckOnChain on-chain deep-dive reports, and access to the Pulse paid tier as part of the membership.

Who Should Start with Which

The decision depends on what the reader wants to do.

Start with Pulse if the goal is live readings and visualizations to be interpreted by the reader. The free tier is substantive enough to demonstrate the framework, and the paid Pulse tier carries the proprietary signals at a lower price point than the full Pro subscription.

Start with Pro if the goal is the written analytical context, the longer thesis development, the monthly on-chain reports, and the dashboard access bundled together. Pro is the right entry point for readers who want both the data and the explanation.

For most readers, the answer is Pro, because the membership includes Pulse paid access and the written research is the more difficult product to substitute. The Pulse signals carry the framework's reads in raw form. Pro provides the written interpretation that turns those reads into a coherent analytical view.

How They Complement Each Other

The two products are designed to be used together. The dashboard runs the framework live. The letters interpret what the framework is doing. A reader using both has the chart and the explanation in the same week, with the written context often catching the most important moves in the data before they show up in the headline indicators.

The Pro letter references the live Pulse readings each week. Pulse views are designed to be opened alongside the letter. The Trend Master composite, the seven-model Master Valuation, and the four-pillar Liquidity Index are common reference points across both surfaces. The monthly TBL/CheckOnChain reports synthesize the on-chain layer that Pulse displays and Pro interprets.

The integration is the design, not a marketing afterthought. Pulse and Pro were built as a single research product split into two surfaces.

Does Pro Include Pulse?

Yes. Pro membership includes access to the TBL Pulse paid tier, with the live TBL Liquidity signals, the proprietary Bitcoin tab, the Terminal, and the regression workspace. Pro members do not need a separate Pulse subscription.

The standalone Pulse paid tier exists for readers who want the dashboard without the written research. For readers who want both, Pro is the bundled option.

What If I Only Want One?

Pulse standalone is the right choice if the goal is the live dashboard only, with interpretation done by the reader, and without the weekly letters or the monthly on-chain reports.

Pro standalone does not exist as a separate option. Pro membership includes Pulse paid access by design.