Sideways continues, with increasing divergence from historical patterns.

The market remains in a sideways regime for the 16th consecutive day, indicating a period of relative neutrality. Concentration at 27.6% suggests a moderate degree of coupling, but the widening gap (-18.7pp) relative to the historical average at this cycle position signals a departure from established norms. Low stability reinforces the sideways environment. We are 739 days post-H4 halving, firmly within the post-peak zone. Historically, at this point in the cycle, we’d expect BTC Season (94% of the time), but this cycle has deviated significantly. The concentration gap is widening, moving further away from the pattern observed on 2026-04-25. Watch for a sustained decrease in concentration, or a convergence of independent themes, as these would indicate a potential shift out of the sideways regime. This is structural observation, not financial advice. Data: banger.today