Bitcoin is overpricing narrative durability
Historically, stretches where bridge security leads without support from custody rails invite sharper reversals.
Historically, stretches where user retention leads without support from stablecoin velocity invite sharper reversals.
Against the backdrop of “Here’s what happened in crypto today” and “Strategy Resumes Bitcoin Accumulation by Adding 810 BTC”, positioning still matters more than slogans.
In practice, user retention and stablecoin velocity interact before price fully reflects either one.
Stay close to what users and balance sheets are actually doing.
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