One day before month-end, BTC is pushing for a record monthly close above $115.8K. Not bad for a month that began uncertain and leaning bearish. Key indicators hold steady: 🔸Fundamentals stayed in strength most of Q3 (except early July). 🔸Risk-Off Signal only destabilized mid-August, but never entered high-risk regime, allowing BTC to build a bottom below $110K. Remember: there is no bullish-to-bearish trend shift without a high-risk regime + weakening fundamentals. For now, despite stress, Bitcoin still carries the strength for a push higher into Q4.