Welcome back to The Silicon Satoshi
November 2025 delivered one of the harshest resets in recent crypto history driven by nearly $3.5B in net spot ETF outflows and massive liquidation cascades wiping out $20B+ in leverage. Bitcoin plunged from near $110K into the low $90Ks, while Ethereum dropped over 21%.
But is this the start of a deeper downturn or the exhaustion phase before a major pivot?
In this episode, we break down the data signaling that sellers may finally be running out of steam. We examine why institutional infrastructure continues quietly expanding, how firms like BlackRock and Fidelity remain firmly positioned, and why key support zones $90K for BTC and 2,960 – 3,100 for ETH are becoming battlegrounds for smart money.
We also explore Ethereum’s accelerated “Fusaka” upgrade, targeting ~100,000 TPS, and the approaching macro “flip” from liquidity drain to net easing. Together, these forces could set the stage for a more constructive start to 2026 and potentially reopen the path toward a six-figure Bitcoin.