custody rails is consolidating around hedging demand

The healthier setup is alignment: self-custody adoption improving while developer activity stays orderly.

That is why watching custody rails alongside miner behavior usually explains more than chasing every alert.

That debate sits next to today’s market focus around “Ben Cowen Says After Nasdaq Fall, Bitcoin Could Head Back to $58,000.”

Mapping custody rails against miner behavior is a simple way to stress-test a thesis.

A clean chart can hide a crowded trade.

A clean chart can hide a crowded trade.

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