{"podcast":{"title":"The Wolf Of All Streets","slug":"the-wolf-of-all-streets-1215618","podcast_index_feed_id":1215618,"rss_url":"https://feeds.megaphone.fm/wolfofallstreets","website_url":"https://www.thewolfofallstreets.io/","image_url":"https://megaphone.imgix.net/podcasts/0561dce0-54e6-11ea-b46f-5ff4e57b9f8f/image/caf13e6d4dc460f62de5b27eae991d9b.png?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress","author":"Scott Melker","episode_count":1892,"summary":"Host Scott Melker talks to your favorite characters from the world of Bitcoin, trading, finance, music, art, and anyone else with an interesting story to tell. Sit down, strap in, and get ready – we’re going deep.","last_synced_at":"2026-07-30T06:19:18.758126+00:00","page_url":"https://stenobird.com/podcast/the-wolf-of-all-streets-1215618"},"episode":{"title":"11 Million BTC Underwater… Capitulation or Opportunity? #CryptoTownHall","slug":"11-million-btc-underwater-capitulation-or-opportunity-cryptotownhall","published_at":"2026-06-26T16:15:00+00:00","page_url":"https://stenobird.com/podcast/the-wolf-of-all-streets-1215618/11-million-btc-underwater-capitulation-or-opportunity-cryptotownhall","show_page_url":"https://stenobird.com/podcast/the-wolf-of-all-streets-1215618","url":"https://pdst.fm/e/pdst.fm/e/traffic.megaphone.fm/MANA6391766373.mp3","audio_url":"https://pdst.fm/e/pdst.fm/e/traffic.megaphone.fm/MANA6391766373.mp3","summary":"11 million Bitcoin underwater...capitulation or opportunity? Today's panel explains why the stat is overstated due to custodial ETF and exchange holdings where transfers no longer signal real ownership. They cover record long-term holder conviction, the persistent four-year cycle with possible lower lows into Q3/Q4, and lack of true capitulation without leverage deleveraging. Macro pressures from SpaceX liquidity drains, geopolitics, and inflation are weighed against stablecoins powering dollar dominance, tokenization, and RWAs. The discussion highlights crypto’s bifurcation into Bitcoin as neutral collateral versus infrastructure for AI agents and machine-to-machine payments. Special focus on MicroStrategy’s STRC yields, MNAV debates, dilution risks, cash runway issues, and “investigation” headlines as law firm class-action PR, alongside current bear market frustration and the constructive long-term outlook. Learn more about your ad choices. Visit megaphone.fm/adchoices","meta_description":"11 million Bitcoin underwater...capitulation or opportunity? Today's panel explains why the stat is overstated due to custodial ETF and exchange holdings…","key_points":[],"chapters":[],"topics":[],"duration_seconds":3211,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-wolf-of-all-streets-1215618/episodes/11-million-btc-underwater-capitulation-or-opportunity-cryptotownhall/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-wolf-of-all-streets-1215618/11-million-btc-underwater-capitulation-or-opportunity-cryptotownhall.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}