The crypto rally is pricing in the upcoming passage of a clear regulatory bill, which defines the boundaries of authority between the SEC and CFTC. The most critical point is that the SEC will have no authority to enforce actions against decentralized projects! Projects that meet these two criteria are considered decentralized: 1. No individual or entity holds more than 20% control or voting power. 2. In the past 12 months, no affiliated developers have unilaterally managed or operated the network in a substantial way. With clear conditions in place, project teams now know exactly how to exploit the loopholes. Especially for memes, this sector is very likely to survive. Back to the crypto market itself, BTC and ETH have once again reached the upper range of their consolidation zones, while clearing out short leverage. At this level, it’s better to observe than act—traps > opportunities. No need to rush in. There will be plenty of opportunities later on.