1/ Institutional demand continues to anchor Bitcoin as regulatory momentum builds, with the @SECGov accelerating ETF approvals and corporate treasuries stepping up on-chain allocations. Bitcoin has remained resilient despite quarter-end flows, supported by listed corporates such as Anthony Pompliano’s ProCap BTC LLC, @MicroStrategy, and @Metaplanet_JP, which have now outpaced ETFs in BTC purchases for the third consecutive quarter.