order-book depth is rewriting assumptions about — custody rails still sets the tone for na

Positioning often matters more than the headline itself.

Put beside current chatter on “Why Bitcoin's Next Soft Fork Could Feel Like a Practice Run,” the incentive problem looks clearer.

Meanwhile, miner behavior can either confirm the move or expose it as temporary.

A simple checklist—stablecoin settlement, cross-exchange spreads, and inventory—beats improvising under stress.

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