In the past 24 hours, the crypto world has been focused on two things: 1) The U.S. Department of Labor released new guidance, further opening the door for 401(k) plans to include crypto assets; 2) On the other hand, after oil prices surged past $100, market risk-off sentiment pushed BTC down a bit. My take is that policy is warming up, which is bullish in the long term; but in the short term, funds are more worried about macro and geopolitical risks. BTC will most likely keep consolidating here—only when sentiment stabilizes can we expect a decent rebound.