Brew, 31 Jul 2026.
Top signal today: Sovereign Bitcoin adoption (76/100, tailwind).
BTC $64,294
- Sovereign reserves76/100tailwind
6 states hold ~630,006 BTC as reserves; 2 more have announced or proposed legislation. Sovereign demand is structural and policy-led, so it tends to precede flows.
- Hiring velocity61/100tailwind
Tracked Bitcoin/crypto-infra firms have 365 open roles, +25 vs 30 days ago (+7.4%). Teams staff up before they ship and grow; rising hiring may be an early demand tell (predictive value not yet backtested).
- Corporate treasuries56/100tailwind
179 public companies hold ~1,285,829 BTC (top: Strategy, 843,775 BTC). Corporate treasury accumulation is structural institutional demand; the trend strengthens as history accrues. Strategy (MSTR) trades at an observable ~0.63x mNAV — its equity value vs the value of its 843,775 BTC (quote 2026-07-30); reported as a number only, not a valuation judgement.
- Network hashrate42/100headwind
Network hashrate is ~960.1 EH/s, -3.2% over 30 days. Rising hashrate reflects growing miner commitment and network security; sustained trends can precede price (not yet backtested).