BTC seems to be catching its breath. RSI's bouncing back, CVD flipped positive—those are decent signs. But here's the thing: spot trading volume? Pretty thin. On-chain metrics and overall liquidity? Still lagging behind.

ETFs are pulling in fresh capital, which sounds bullish at first glance. Yet futures market tells a different story—traders are trimming risk exposure. What we're seeing is mostly short-term money rotating around, not the kind of conviction you'd want for a sustained move.

Stabilization, sure. But the foundation's still shaky.