Yesterday’s bounce looked cleaner than the prior move, but today is kind of showing why I still don’t think full confirmation was there yet.

The recent bounce in the market looked cleaner than the prior move, but today's price action suggests that full confirmation is still lacking. The structure of the move was healthier, with stablecoin liquidity improving and BTC ETF flows turning positive. However, ETH/BTC remained weak and BTC dominance stayed elevated.