Just saw an analyst's take on the current crypto market news, and it's pretty sobering. Apparently capital's been flowing out of Bitcoin since early this year, and the realized market cap hasn't recovered yet. The 30-day realized market cap change is still negative at -0.32%, though it's better than the -0.54% we saw at the start of April. So the bleeding has slowed down, but we're not seeing any real reversal yet. The key thing he mentioned is that as long as this metric stays negative, we're stuck in a defensive bear state structurally. For the crypto market to actually flip bullish, we'd need fresh capital coming back in, not just the outflows slowing. Basically, less bad isn't the same as good yet. Watching to see if that changes soon.