Take a look at the market—crypto capital priorities are temporarily on the back burner. The prior adjustment in U.S. stocks was steep and vertical; the deeper the correction (better value), the more reasonable it is for the rebound to be strong. Crypto’s correction, by contrast, has been a combination of horizontal consolidation and gradual vertical decline—less violent than U.S. stocks—so a sluggish rebound is perfectly normal. Now, all we need to watch is whether U.S. stocks can stabilize and the broader (oil) environment remains steady. If so, crypto’s rebound will come—just delayed (right now, we’re only seeing a halt in declines, not yet a true rebound).