token unlocks keeps reshaping liquidity conditions

A simple checklist—token unlocks, drawdown recovery, and inventory—beats improvising under stress.

When books are thin, narratives look stronger than they are.

Put beside current chatter on “SEC’s Crypto Custody Proposal Could Change How Funds Hold Digital Assets,” the incentive problem looks clearer.

Meanwhile, exchange reserves can either confirm the move or expose it as temporary.

When US session flows and macro liquidity disagree, sizing down beats inventing a clever story.

Stay close to what users and balance sheets are actually doing.

Keywords: Fed · on-chain data · exchange