GM to those who keep engaging! 🌅 Yesterday gave us a pretty clean #Bitcoin lesson. US jobs: Expected: ~90,000 Actual: 29,000 Unemployment ticked up to 4.2%. #Markets immediately started reducing expectations for another Fed hike. #Treasury yields fell. And Bitcoin pushed to almost $87K. But here's what interests me. $BTC isn't reacting because 29,000 jobs is somehow "good news." A weakening labor market isn't good. Bitcoin is reacting to what that weakness might change next: #Fed policy. Yields. Dollar strength. Liquidity. That's an important distinction. Markets don't trade the world you see today. They constantly try to price the world they think comes next. Meanwhile US spot Bitcoin #ETFs pulled in another $102.7M on Oct. 1, after $2.65B of net inflows during September. So I'm watching two things now: Macro is giving Bitcoin a little more oxygen. Institutional capital is still showing up. BTC doesn't need the environment to become perfect. It just needs tomorrow to look slightly less hostile than yesterday. That's enough to make things interesting. 👀