The War God is on the move: it posted a sell-only order (an empty order). The core logic is: although the recent launch of Bitcoin spot ETFs and ongoing net inflows have opened a channel for traditional regulated capital to allocate to Bitcoin, instability in the Middle East situation likely makes this hard to sustain. After breaking through 66k twice, it quickly fell back to 65k and has continued to trade in a tight range around 65.6k.