The Bitcoin Fortress Podcast - Episode 193 December 7, 2025 Block Height 926865 | Moscow Time 1094 | Fees 1/1/1   NEW! My YouTube Channel featuring short-form video content and all my podcast episodes: https://www.youtube.com/channel/UCEPGN1YCIQcMxkUig5GaNrQ   Featured Substack Post: https://bitcoinfortress.substack.com/p/practical-ways-to-become-more-resilient   Bitcoin Fortress Books: Bitcoin Fortress: A Simple Guide to Bitcoin for Beginners Bitcoin Retirement and Estate Planning The Bitcoin Lifestyle   Follow me on Nostr: npub122fpu8lwu2eu2zfmrymcfed9tfgeray5quj78jm6zavj78phnqdsu3v4h5   Price, ETFs & Market Structure 2025 was officially a wipeout year for US spot Bitcoin ETFs https://cryptoslate.com/2025-was-officially-a-wipeout-year-for-us-spot-bitcoin-etfs-now-flat-yoy-and-down-48b-since-october/ CryptoSlate Bitcoin ETFs bleed $3.4B as investors pull back, but YTD flows remain positive https://etfdb.com/news/2025/12/05/bitcoin-etfs-bleed-3-4-billion/ ETF Database Bitcoin ETF: Massive $194M outflow — what is happening? https://www.cointribune.com/en/bitcoin-etf-why-are-institutional-investors-withdrawing-massively/ Cointribune Bitcoin spot ETFs log $194.6M in outflows as basis trades unwind https://becausebitcoin.com/post/bitcoin-spot-etf-outflows-basis-trade-ibit-boj-dec5-2025 Because Bitcoin Spot Bitcoin ETFs bounce back with $54.8M in inflows on Dec 5 https://cryptorank.io/news/feed/cdd1b-spot-bitcoin-etfs-inflow-reversal CryptoRank Bitcoin price action is no longer determined by exchanges – ETF flows as key metric https://cryptoslate.com/bitcoin-etf-market-structure-shift-institutional-flows/ CryptoSlate Bitcoin’s bull market: A slowdown, not a breakdown https://cryptoslate.com/bitcoins-bull-market-a-slowdown-not-a-breakdown/ CryptoRank What to expect from Bitcoin price in December 2025 https://m.fastbull.com/news-detail/what-to-expect-from-bitcoin-price-in-december-news_6100_0_2025_4_13898_3/6100_BTC-USDT FastBull Bitcoin stumbles into December after brutal November Business Insider Institutions, Wall Street & Products Strategy’s Saylor in talks with MSCI as index-exclusion threat looms https://www.reuters.com/business/saylors-strategy-engaging-with-msci-potential-index-exclusion-2025-12-03/ Reuters Strategy’s leveraged ETFs hit hard by crypto slump https://www.reuters.com/business/finance/strategys-leveraged-etfs-hit-hard-by-crypto-slump-2025-12-02/ Reuters Bank of America expands crypto access for wealth-management clients https://www.reuters.com/business/finance/bank-america-expands-crypto-access-wealth-management-clients-2025-12-04/ Reuters Vanguard finally allows crypto ETFs and mutual funds https://www.barrons.com/articles/vanguard-crypto-etfs-funds-bitcoin-investing-5c69c14c Barron's Strategy stock: Bitcoin proxy and analyst targets https://www.investors.com/news/mstr-stock-strategy-bitcoin-analyst-price-targets-upside/ Investors B Hodl unveils Bitcoin treasury and Lightning strategy ADVFN UK Regulation, Policy & Enforcement CFTC announces first listed spot crypto trading on US exchanges https://www.cftc.gov/PressRoom/PressReleases/9145-25 CFTC CFTC leverage ruling opens the door for $25T giants to enter crypto https://cryptoslate.com/cftc-leverage-ruling-finally-opens-the-door-for-25-trillion-giants-to-enter-the-crypto-market/ CryptoSlate Swiss and German police shut down major cryptomixer.io Reuters CRA crypto crackdown reaps millions but yields no criminal charges https://barrie360.com/cra-crypto-crackdown-reaps-millions/ Barrie 360 China renews crypto crackdown, targets offshore exchanges Decrypt Global Crypto Policy Review & Outlook 2025/26 – TRM Labs https://www.trmlabs.com/reports-and-whitepapers/global-crypto-policy-review-outlook-2025-26 TRM Labs State Adoption & Geopolitics Texas becomes the first state to buy Bitcoin as more states eye crypto https://stateline.org/2025/12/04/texas-becomes-the-first-state-to-buy-bitcoin-as-more-states-eye-cryptocurrencies/ Stateline Texas becomes the first state to buy Bitcoin — what happens next? https://www.bitget.com/amp/news/detail/12560605082733 Bitget Trump’s National Security Strategy ignores Bitcoin and blockchain (syndicated summary) Yahoo Finance Mining, Infrastructure & Lightning What to expect from Bitcoin price in December (miner margins, Bitmain probe, China hash rate) https://m.fastbull.com/news-detail/what-to-expect-from-bitcoin-price-in-december-news_6100_0_2025_4_13898_3/6100_BTC-USDT Cash App adds Bitcoin Lightning payments and stablecoin support https://www.bitget.com/news/detail/12560605061785 Bitcoin treasury companies should lean into the Lightning Network The Guardian+1 “Bitcoin is the tulip bulb of our time” – Michael Burry https://www.businessinsider.com/michael-burry-bitcoin-price-tulip-bulb-big-short-2025-12 Why we do not own Bitcoin (and never will) – Bahnsen Group thebahnsengroup.com AI-fueled crypto scams are booming – TRM Labs data https://podcasts.apple.com/us/podcast/rabbit-hole-recap/id1622698349