Brew, 3 Oct 2026.
Top signal today: Sovereign Bitcoin adoption (76/100, tailwind).
BTC $84,571
- 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 hashrate71/100tailwind
Network hashrate is ~930.5 EH/s, +8.6% over 30 days. Rising hashrate reflects growing miner commitment and network security; sustained trends can precede price (not yet backtested).
- Corporate treasuries56/100tailwind
180 public companies hold ~1,298,213 BTC (top: Strategy, 847,665 BTC). Corporate treasury accumulation is structural institutional demand; the trend strengthens as history accrues. Strategy (MSTR) trades at an observable ~0.781x mNAV — its equity value vs the value of its 847,665 BTC (quote 2026-10-02); reported as a number only, not a valuation judgement.
- Hiring velocity45/100neutral
Tracked Bitcoin/crypto-infra firms have 340 open roles, -10 vs 30 days ago (-2.9%). Teams staff up before they ship and grow; rising hiring may be an early demand tell (predictive value not yet backtested).