Coin Stories: News Block

Episode Theme:
Bitcoin’s “Worst Month Since 2022,” Quantum Fears, Index Policy Shifts, and the JP Morgan-Epstein Bombshell
Host: Natalie Brunell
Release Date: November 24, 2025

Overview

In this News Block episode, Natalie Brunell analyzes Bitcoin’s sharp recent price decline—its worst month since 2022—and unpacks a whirlwind of interrelated events: massive liquidations, index provider policy shifts, fresh quantum computing anxieties, the public grilling of JP Morgan over its Epstein ties, and new, quietly significant regulatory changes in Washington and beyond. As always, Natalie tempers short-term headlines with a long-term Bitcoiner’s perspective.

Key Discussion Points & Insights

1. Bitcoin’s Price Crash and Market Sentiment

• Bitcoin’s Drop: Plummeted to $82,000—more than 30% off all-time highs. Triggered over $2 billion in leveraged liquidations.
  [00:17]

• Causes Discussed:

  • Long-term holders taking profits (confirmed on-chain)
  • Broad macro de-risking: concerns over “AI bubble” in stocks and tighter liquidity conditions
  • The October 10 shock: biggest crypto liquidation event ever ($20B in leverage wiped)

• Quote:

  “Some of us did not expect Bitcoin to crash as much as it has... It’s on track for its worst month since the 2022 crypto winter.”
  —Natalie Brunell [00:17]

• BlackRock’s Robby Michnick points to October 10th’s liquidations as a primary cause. (Referenced prior interview)

Market Correction Context

• This marks Bitcoin’s 23rd bull market correction of 20%+; the current drawdown (~30%) is not unusual.

  “In other words, this is painful, yes, but it’s actually pretty par for the course for Bitcoin.”
  —Natalie [03:59]

2. MSCI Index Consultation & “Strategy” Company Debate

• MSCI’s Proposal:
  Considers excluding public companies whose main business is holding large digital asset treasuries (50%+ of assets) from flagship indices (e.g., NASDAQ 100, MSCI World).

• Implications:

  • Strategy (implied to be MicroStrategy) is at risk: $2.8B–$8.8B in threatened passive fund outflows.

• Michael Saylor’s Response:

  • Emphasizes “Strategy” is a real software company, not a fund.
  • Quotes Saylor: company’s “conviction in Bitcoin is unwavering... building the world’s first digital monetary institution on a foundation of sound money and innovation.”
    —[Paraphrased, 01:50-03:33]

• Timeline:
  Index consultation open to 12/31/2025; conclusions by mid-January 2026; implementation (if any) in February.

• Sentiment Impact:

  • Adds major regulatory uncertainty and fear to a bearish market.

3. Quantum Computing Worries

• Catalyst:
  Vaneck CEO Jan Van Eck voiced new quantum computing and privacy worries on CNBC, saying he’d walk away from Bitcoin if its core thesis broke.

• Ray Dalio:
  Echoes quantum risk, says he limits his BTC exposure due to it.

• Community Response:

  • Lyn Alden: “Quantum narrative can get overdone, but it is worth monitoring... even if quantum advances, not as simple as ‘press a button and Bitcoin unravels.’”
  • Nick Carter: Frames quantum risk as a “100-year storm,” assigning a 10% probability to some disruption. Stakes are high if it isn't handled.
  • Natalie:

    “Adversarial thinking is a superpower for protecting Bitcoin... Quantum risk is real, but in my view, still a low probability, high impact tail risk.”
    —Natalie [07:16]

• Practical Take:
  Bitcoin is upgradable, but “every protocol upgrade involves trade-offs and potential new risks.” The community should be proactive, not panicked.

  • Further resources suggested: Preston Pysh and Larry Lepard interviews on quantum and Bitcoin security.

4. Bitcoin Critics, JP Morgan, and the Epstein Scandal

• Jamie Dimon’s Past Criticism:

  • Calls Bitcoin “for criminals,” has claimed it has “no intrinsic value.”
    —Repeatedly cited throughout [09:11].

• New Senate Memo:

  • Senator Ron Wyden alleges JP Morgan protected Jeffrey Epstein and even facilitated his sex trafficking via massive compliance failures.
  • “The memo alleges... Senior executives, including top private banking leadership, were in frequent contact with him. … Wyden says records show top executives who reported directly to Jamie Dimon closely supervised Epstein’s accounts.”
    —Natalie [09:40–10:38]

• Public Reaction:

  • Social media calls to close Chase accounts.

• Natalie’s Take:

  “The next time you hear ‘Bitcoin is only for criminals,’ remember to ask who’s saying it and who they were banking.”
  —Natalie [10:45]

• Core Argument:

  • Criminals use every monetary system; the technology isn’t the criminal, the actors are.
  • Bitcoin is transparent, open-source, and more traceable than traditional banking in some regards.

5. Policy Shifts & Institutional Adoption

• Regulatory Bright Spots:

  • OCC Guidance:
    US banks allowed to hold digital assets as principal to pay blockchain network fees.
  • BIS Rethinks Crypto Rules:
    Central bank of central banks (BIS) will revisit highly restrictive crypto capital rules after UK/US pushback.
    • Potential for “enormously important... more reasonable capital treatment,” per Matt Hogan (Bitwise CIO).
  • Legislative Action:
    Rep. Warren Davidson introduces “Bitcoin for America” Act—would allow Americans to pay federal taxes in Bitcoin, with coins going into a strategic Bitcoin reserve.
    • Direction matters: signifies increasing normalization of Bitcoin at government level.

• Cultural Milestone:

  • Treasury Secretary Scott Besant appears at the opening of D.C.'s Bitcoin bar, Pub Key DC—just blocks from the White House.
    • Natalie hosts “Bitcoin is For Everyone” book signing at Pub Key NY. [11:30]

Notable Quotes & Memorable Moments

• On Fear and Volatility:

  “Weeks like this are where conviction gets tested. Investors have to ask has Bitcoin’s fundamental value proposition changed or is this just another volatile chapter in an ongoing bull market?”
  —Natalie [04:50]

• On Mainstream Narrative vs. Reality:

  “It’s not that Bitcoin will never be used by criminals. Criminals use everything. … The problem isn't the technology, it’s the people who choose to abuse it.”
  —Natalie [10:52]

• On Regulatory Momentum:

  “We now have members of Congress explicitly arguing for a strategic Bitcoin reserve and for normalizing paying the IRS in Bitcoin... direction matters.”
  —Natalie [11:20]

• On Long-term Perspective:

  “At some point you have to step back and ask, what more do we need to see to understand where this is all heading? I know that the market is bearish, but I for one am feeling very much the opposite.”
  —Natalie [11:53]

Timestamps of Key Segments

• [00:17] - Bitcoin price crash & causes; Oct 10th liquidation
• [01:35] - MSCI index exclusion proposal & implications
• [03:33] - Michael Saylor’s response
• [04:50] - Is this correction different? Historical perspective
• [05:41] - Quantum computing worries; Jan Vaneck, Ray Dalio, Lyn Alden, Nick Carter
• [09:11] - JP Morgan, Jamie Dimon & Epstein memo
• [10:52] - Technology, crime, and where blame should fall
• [11:12] - Regulatory and legislative Bitcoin momentum (OCC, BIS, “Bitcoin for America” act, Pub Key DC opening)
• [11:53] - Host’s closing thoughts on the long game

Tone & Language

Natalie blends factual reporting with an unapologetically bullish, clear-sighted Bitcoiner tone. She’s respectful of genuine concerns (quantum, regulation) but grounds panic in perspective. Her commentary is sharp, skeptical of institutional hypocrisy, and supportive of critical, adversarial thinking for crypto’s long-term resilience.

Conclusion

This episode brings together urgent bearish news, regulatory changes, narrative battles, and the practical politics of integrating Bitcoin into the mainstream. Natalie invites listeners to zoom out, question narratives, and focus on the decisive trends pointing to further Bitcoin adoption—no matter the price action in a single “worst month.”