The market is bouncing, but Ran believes investors should be extremely cautious. What looks like strength on the surface may simply be a temporary relief rally in a market still facing serious liquidity pressures. This isn't just a crypto story anymore. Weakness is spreading across risk assets as AI funding stress, IPO liquidity demand, and shifting rate expectations all compete for capital. Meanwhile, ETF flows remain fragile and spot demand has yet to show convincing signs of recovery. Ran breaks down why the burden of proof is now on buyers and explains the key signals that need to change before this rally can be trusted. Until then, chasing the bounce could be exactly the mistake the market is waiting to punish.
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