Merkle3s Weekly Snapshot 📊 3/4 1️⃣ Core Tension: Disorderly Volatility Under Geopolitical Shock ➡️ The U.S. strike on Iran triggered a classic “panic sell-off → event confirmation rebound” rollercoaster across risk assets ➡️ BTC initially dropped sharply, then staged a rapid V-shaped recovery once the news settled ➡️ BTC likely needs more time consolidating in the lower range to allow large capital to accumulate 2️⃣ Capital Structure: Sentiment Rotation, Not Trend Repair ➡️ The recent rebound reflects position adjustments and short-term trading rather than a true return of risk appetite ➡️ Volatility remains heavily event-driven, with macro direction still unclear ➡️ The market continues to swing between fear and relief, but lacks sustained buying pressure 3️⃣ Crypto Internal Structure: AI Trading Narrative vs BNB Cooling ➡️ On #Base, DX Terminal ignited the “AI Agent automated trading” narrative, with related token $Poopcoin raising over 10,000 ETH in presale ➡️ BNB sentiment continues to weaken; CZ’s new book Freedom of Money failed to trigger the expected community hype, leading to quick pullbacks in related tokens 4️⃣ Cycle Positioning ➡️ The market is currently in a phase of “high volatility + low certainty,” rather than trend expansion ➡️ Localized narratives can still create bursts of momentum, but macro uncertainty limits sustained capital inflows ➡️ Structural repair will require time, not a single headline-driven catalyst