Bitcoin is overpricing retail participation

Cycles rhyme, but the plumbing underneath keeps changing.

Even when feeds obsess over “Zcash devs propose another block time cut days after NU7 upgrade,” the durable question remains process versus prediction.

Cycles rhyme, but the plumbing underneath keeps changing.

Treat cross-exchange spreads as the constraint and order-book depth as the amplifier, not the other way around.

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