This Bitcoin Fundamentals podcast episode features Preston Pysh and three Mastermind members discussing the unexpected downturn in Bitcoin's price in the first quarter of 2025. The panel analyzes contributing macro factors, including the impact of tariffs and supplemental leverage ratios for banks, and reviews the legal implications of the Strategic Bitcoin Reserve (SBR). They debate whether the current market correction is a temporary setback or a sign of a broader economic slowdown, with differing opinions on the role of treasury debt and global monetary supply. The discussion highlights the surprising weakness of the dollar despite increased treasury demand and the implications of the SBR, which is viewed as a bullish development despite the initial price reaction. The panelists also touch upon the future of stablecoins and the potential for a stablecoin bill to pass Congress.