Analysis · Nov 13, 2026 00:20 UTC

self-custody adoption is rewriting assumptions about spot-led moves

Liquidity still decides how far any catalyst can travel.

The gap between US session flows and macro liquidity is where false confidence usually builds.

That debate sits next to today’s market focus around “Sky Advisor Proposes Halting New Core Vault Borrowing.”

A clean chart can hide a crowded trade.

The healthier setup is alignment: US session flows improving while macro liquidity stays orderly.

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