To stay flexible in a constantly changing market, I’ve been consistently thinking about and researching the following areas, and I already have data built around these frameworks. Broadly, they include: 1. How major players (whales) have changed their trading behavior since ETFs launched 2.The deeper mechanics of OTC transactions 3. Detailed data focused on publicly listed mining companies, not just “all miners” as a group 4.Why the so-called Binance “brown whale” signals no longer line up the way they used to When the timing is right, I’ll share these insights one by one. If you interpret the data strictly through the old narratives, Bitcoin breaking below 100k doesn’t make much sense. But once you look at the data more closely and with greater detail, the move becomes understandable, and it’s clear that this phase is very different from the green-box zones we’ve seen repeat during past bull markets. Price may continue to move sideways for a bit longer, but I don’t think that’s the whole story. Without a detailed understanding of the data, this cycle risks repeating what we saw in 2020: even as prices continue to fall, we’ll likely keep hearing the same phrases again and again, “on-chain data is still positive” or “on-chain data suggests a bottom.”(mignolet)