This morning, two things caught my eye. 1. U.S. Treasury Secretary Bessent publicly urged Congress to pass the crypto market structure bill ASAP, regulatory expectations are moving toward more clarity. 2. Six Swiss banks launched a Swiss franc stablecoin sandbox, traditional finance is still leaning toward the blockchain. My take is that both policy and institutional moves are leaning positive. $BTC is likely to stay in a short-term bullish consolidation, but don’t go too hard chasing above 72k.