Good morning, weekend vibes. Let’s quickly go over a few things from last night to this morning. BTC dropped below 80K again, and $300M in futures got liquidated last night. This rally didn’t hold, but the drop was pretty decisive. April’s non-farm payrolls beat expectations (+115K), and Roger Ferguson said rate hikes this year wouldn’t be surprising—that’s never good news for risk assets. Another interesting piece: Meta is reportedly planning to integrate stablecoins, and Elizabeth Warren wasted no time sending a letter to Zuckerberg questioning it. Stablecoins have always been a sensitive topic in Washington, and Meta already took a hit with Libra before. Now they’re making a comeback, and regulators are definitely watching closely. On the miners’ side, there’s been a bunch of earnings reports: Core Scientific sold 2,385 BTC in Q1, and their AI revenue has already surpassed mining revenue. Hut 8 signed a $9.8B AI data center lease. The miners are still pushing their AI narrative, but BTC itself is in a pretty awkward spot right now. The 80K level is still key in the short term.