Crypto feels dead right now.



That’s the dominant mood on CT.

But zoom out for a second:

• Stablecoins at ATHs
• Onchain transactions at ATHs
• App revenues up only
• Institutions accumulating BTC
• Stocks moving onchain
• Prediction markets exploding
• Rates trending down
• Gold at ATHs

So sentiment says “it’s over”
while the data says “this is just starting.”

That disconnect usually doesn’t last forever.

Question is
does it resolve with price catching up…

or with people giving up right before it does?
BTC0,64%
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