The Move

Bitcoin consolidated at $81,536, up 0.13% over the last 24 hours. The muted price action came as geopolitical tensions with Iran pressured broader markets while BTC held above key support.

The Signal

Strategy's $43 million Bitcoin purchase after last week's selling pause signals the treasury company remains committed to accumulation. The move reinforces institutional conviction even as ETF flows turned slightly negative at -0.90 standard deviations below the 30-day average.

The Watch

Thursday's Senate Banking Committee markup of the Clarity Act could provide the regulatory framework crypto has sought for years. A committee passage would shift the fight to the full Senate where major obstacles still remain according to TD Cowen.