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BTC holding near $79,430 while ETH is flat and SOL only modestly firmer suggests positioning is cautious, not convincingly risk-on. The market looks more like it is absorbing the BTC options expiry test than beginning a broad breakout. My bias is that macro headlines around Hormuz and the contrast between gold and BTC ETF flows will matter more than small intraday moves. Until participation widens beyond BTC, I would treat strength as consolidation rather than a durable expansion in risk appetite. Not advice, just analysis.