⚔️NFA⚔️

Sad to see the summer go, not looking forward to -40° Winters 🥶

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BTC is starting to look much more constructive here. We had a clear bullish divergence form at the lows, followed by a strong reversal. Since then, price has started making higher highs and higher lows, while money flow has flipped positive and continues to push higher. Momentum is shifting back toward the bulls. Now I’m watching to see if BTC can reclaim and hold the ~$89K area to confirm the move has more room to run. 📈

🚨 COINBASE IS MOVING DEEPER INTO THE U.S. FINANCIAL SYSTEM Coinbase has received conditional OCC approval for a federally regulated national trust company focused on crypto custody and financial infrastructure. At the same time, Washington is advancing legislation to put the Strategic Bitcoin Reserve into federal law. The bigger picture: while crypto regulation gets fought over in Congress, Coinbase and Bitcoin are steadily becoming more integrated into the U.S. financial system.

🚨 SEC & CFTC AREN’T WAITING FOR CONGRESS The CLARITY Act failed to advance, but U.S. crypto regulation isn’t stopping. The SEC and CFTC are moving forward using their existing authority. The SEC is working on an Innovation Exemption that could give qualifying tokenized securities a clearer path to operate onchain, while the CFTC continues developing rules for crypto markets. Congress stalled. Regulators didn’t. This could still be a major step toward regulatory clarity for crypto in the U.S., but legislation would provide a more durable framework than agency rules alone..