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Market maker Enflux says traders are not pricing catastrophe or resolution to the conflict in the Middle East, while Glassnode data shows improving spot demand but cautious derivatives positioning.
Traders lean into supply compression stories in altcoins as Hyperliquid ramps up token burns and Jupiter freezes new emissions, even as bitcoin churns between $60,000 and $69,000 with muted flow.
CryptoQuant’s latest report shows the company preparing for weaker conditions with smaller buys and a growing USD buffer, yet traders continue to price in a playbook built on reflexive accumulation.