Congress Pushes Treasury Toward Bitcoin Custody

📉 The selloff caught Bitcoin right as weak U.S. jobs data hit the wires. A sharp move lower rattled traders — but the bigger setup might still be in play. Some desks are still calling for a Q4 run toward $185K.

📊 Why? Revisions to U.S. job numbers are forcing analysts to price in Fed rate cuts sooner than expected. If the Fed flips dovish, liquidity could fuel Bitcoin’s next vertical leg.

🇺🇸 Meanwhile, Congress just filed a bill directing the Treasury to draft a framework for the federal government to hold Bitcoin. That’s not noise — it’s the kind of structural shift that tells you the conversation inside D.C. is moving from “ban it” to “custody it.”

This puts pressure on regulators, raises the stakes for security standards, and signals that Bitcoin isn’t leaving the table any time soon.

👀 Layer in the flows: one whale just offloaded tens of thousands of BTC and rotated into ETH. CME futures open interest looks drained, but spot buying continues to creep higher. Institutions are circling again.

Bottom line: Q3 ends with volatility, but the chessboard for Q4 is being set. If Bitcoin can hold the line, the setup for a monster rally into year-end remains intact.