Neutral

**Market Regime Snapshot** The broader regime is neutral, with Bitcoin leading the phase (confidence: 0.84). However, the early‑warning system flags a risk‑off posture building over 24–72‑hour windows: BTC is down 2.5% in the past 24 hours and 2.3% over seven days; alt‑coin breadth sits at just 39%, and stablecoin supply is contracting (−0.2%/24h), indicating fuel is leaving the system. The flow signal is mature, meaning this directional pressure is well‑established rather than nascent. **Active Catalysts & Context** Over the last seven days and the upcoming period, the most frequent event categories are unlocks (29), regulatory developments (5), and upgrades (6). There have also been four recorded hacks, one partnership, and one buyback. The concentration of unlock events may contribute to the observed selling pressure, while the regulatory and upgrade catalysts remain present but not yet dominant in the data. **Summary for the Reader** The data shows a cautious environment: Bitcoin is under short‑term pressure, alt‑coins are losing momentum, and stablecoin contraction suggests reduced risk appetite. With no long‑watch or short‑watch items currently flagged, the market is waiting for a clearer catalyst. The reader should weigh the mature risk‑off signal and the abundance of unlock events as context for their own analysis.