Post-Liquidation Rebuild: Structural Anchors Hold Amid Macro Volatility

Key Takeaways

• Macro shock and liquidation wave tested market structure, but leverage purge and network fundamentals argue for structural resilience.
• ETF flow reversal signals short-term caution, yet historical parallels suggest shakeouts post-parabolic rallies often precede renewed accumulation.
• Options positioning highlights opportunistic upside hedging, contrasting with panic-driven patterns typical of capitulation phases.