Sovereigns are knocking while inflation refuses to quit. 🏛️

$BTC steadies near 78,280. July Core PCE rose just 0.2%, yet consumer spending stalled — keeping Fed rate-cut hopes alive but fragile.

What's driving the tape:

• Macro: Sticky PCE + weak spending = choppy risk appetite into September.

• Sovereign bid: Uzbekistan's central bank consulted Goldman Sachs and BlackRock on reserve strategy. A quiet signal of state-level crypto interest.

• Privacy push: ECB vows the digital euro will offer "maximum privacy." Banks still see the data.

Watch 78K closely. Hold it, and dip-buyers stay in control.

Which force wins next quarter — central-bank adoption or Fed policy? Drop your take below. 👇