Volume metrics also show deterioration. On-balance volume across major exchanges reflects persistent distribution, resembling conditions seen before prior cycle lows. The broader takeaway is that price structure, momentum, and volume are converging toward what Dishner describes as a final flush.
Stablecoin Dominance And S&P Risk Add PressureEven after capitulation, history suggests the market may not immediately reverse. Prior cycles required 19 to 40 weeks of sideways or unstable price action before sustained recovery began.
