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From 4x leverage last October to just 0.54x today, the market has undergone a major deleveraging. Bitcoin has also reached what appears to be its strongest line of defense, while the Nasdaq is starting to look increasingly fragile. Despite continued ETF inflows, the Coinbase (CB) premium has failed to gain meaningful momentum. The signals are mixed, and caution may be more important than ever. 👀📊 #LaborMarketTestsWalsh #BTCGoldCorrelation