Macro uncertainty and thin crypto spot liquidity continue to limit aggressive positioning and make the current recovery vulnerable to renewed selling pressure

"Despite the industry's public optimism, prediction markets have actually become more pessimistic. According to Kalshi, the probability that U.S. crypto market structure legislation becomes law before Jan. 1, 2027, has fallen to roughly 36%."

"Macro uncertainty surrounding future Federal Reserve policy, geopolitical risks, and relatively thin crypto spot liquidity continues to limit aggressive positioning. Until bulls establish sustained closes above the $90 and $100 resistance zones, the current recovery is likely to remain vulnerable to renewed selling pressure."