Structural Indicators Turn Constructive

Market structure currently reflects:
• Reduced speculative leverage
• Lower altcoin trading activity
• ETF balance fluctuations
• Strengthening mining competition
• Growing sovereign exposure
This alignment historically occurs during consolidation cycles.
Ownership concentration among large custodians and treasuries continues rising. Network security metrics remain robust. Staking participation increases across major chains.
Short-term sentiment remains cautious.
Long-term infrastructure signals remain constructive.
The market is transitioning from expansion to recalibration.
Recalibration often builds stronger foundations.