Bitcoin has just recorded its worst month since 2022 — and in today’s deep dive, we break down exactly why it happened. This is the first major stress-test of the new ETF era, and the results were far more revealing than anyone expected. We explore the macro shocks, the liquidity vacuum, the ETF inflow freeze, the $2.2B in liquidations, and why this downturn wasn’t driven by fear — but by structure. We also look at long-term holder behaviour, institutional positioning, and the early signs of exhaustion that could mark the beginning of stabilisation. At the start of the episode, we’re also giving details on our Christmas giveaway: 50 XRP to two listeners. To enter, simply rate the show five stars and comment “done” below this episode. If you’ve already rated the show, you’re still included — just comment “done” so we know. Follow the show, rate it five stars, and enjoy the deep dive — we’ll see you at the top. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.