Brew, 22 Sept 2026.
Top signal today: Sovereign Bitcoin adoption (76/100, tailwind).
BTC $85,331
- Sovereign reserves76/100tailwind
6 states hold ~630,180 BTC as reserves; 2 more have announced or proposed legislation. Sovereign demand is structural and policy-led, so it tends to precede flows.
- Network hashrate76/100tailwind
Network hashrate is ~983.3 EH/s, +10.7% over 30 days. Rising hashrate reflects growing miner commitment and network security; sustained trends can precede price (not yet backtested).
- Hiring velocity66/100tailwind
Tracked Bitcoin/crypto-infra firms have 375 open roles, +38 vs 30 days ago (+11.3%). Teams staff up before they ship and grow; rising hiring may be an early demand tell (predictive value not yet backtested).
- Corporate treasuries57/100tailwind
180 public companies hold ~1,294,919 BTC (top: Strategy, 846,000 BTC). Corporate treasury accumulation is structural institutional demand; the trend strengthens as history accrues. Strategy (MSTR) trades at an observable ~0.816x mNAV — its equity value vs the value of its 846,000 BTC (quote 2026-09-21); reported as a number only, not a valuation judgement.