Perspective matters.

The total crypto market is still about $1.34T below its all time high. That’s the part everyone focuses on. Fear. Frustration. Capitulation narratives.

But zoom out one layer.

We are also roughly $630B above the lowest point of 2025.

That means despite all the volatility, liquidations, bad sentiment, and endless bearish takes, half a trillion dollars of value has already returned to the market. Quietly.

This is how transitions usually look. Not explosive. Not euphoric. Just slow rebuilding while confidence is still low.

Markets rarely reward the crowd at the moment emotions feel the worst. They move when participation is thin and conviction is tired.

We are not at extremes of greed. We are not even close.

We are in a zone where positioning quietly matters more than timing.

And historically, that’s where the best opportunities are built.