risk appetite is fragmenting spot-led moves: reading the Bitcoin Could tape

Useful frameworks survive longer than seasonal slogans.
The loudest story is not always the decisive one.
Even when feeds obsess over “Bitcoin Could Be Done Falling This Cycle, Analyst Predicts,” the durable question remains process versus prediction.
Historically, stretches where risk appetite leads without support from MEV dynamics invite sharper reversals.
In practice, options skew and spot ETFs interact before price fully reflects either one.
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