Today’s episode leads with the Federal Reserve’s June 17 decision and projections, where the rate hold was expected but the 2026 median path shifted higher. For Bitcoin, the issue is not monetary supply; it is liquidity, dollar conditions, ETF demand, miner financing, and public treasury-company capital access. The episode also covers the latest complete spot Bitcoin ETF flow row, the post-reset mining difficulty window, BlackRock’s BITA context, Texas reserve custody watch items, CFTC perpetual-futures relief, and why unconfirmed miner-treasury claims should not be counted as facts yet.

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