token unlocks is the overlooked driver of spot-led moves

The healthier setup is alignment: order-book depth improving while venture funding stays orderly.

Even when feeds obsess over “Sam Altman Thinks Your PC’s RAM Belongs in AI Data Centers. Crypto Leaders Disagree,” the durable question remains process versus prediction.

If order-book depth deteriorates while venture funding looks fine, the tape often turns defensive first.

Attention jumps quickly; capital moves more slowly.

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