This report reflects the discussions and views shared during our RA meeting. These are personal opinions of the team members and should not be interpreted as financial or trading advice. Readers should conduct their own research and consult with financial advisors before making any investment decisions.

🟠 The team largely derisked in the previous months and is patiently timing their re-entries. Overall, sentiment leans relatively neutral in the short term and the team is awaiting for the market to show clear signs of consolidation before re-entering. One analyst is buying the dip on value tokens with low risk sizing.

Market Outlook & Positioning Shifts

1. BTC Bias and Institutional Flows

Several analysts...