What changed, why it matters, and what most people may be overlooking.
Bitcoin's latest rally is being reinforced by corporate treasury demand and falling bond yields, not just retail momentum.
RULES STILL MOVING
Regulators are giving crypto more room to operate, but without durable legislation, part of the industry’s new certainty could still be reversed later.
THE REAL SIGNAL
Bitcoin is getting the attention, but the more important story may be the unusual alignment between crypto demand, Treasury-market stress, a softer dollar and gold.