Sideways market structure continues, concentration trending toward historical norms.

Today's market is sideways, day 2 of this regime, with a concentration of 24.7%, four independent voices, and low stability. This indicates internals are neutral, despite any price movement. The market is 757 days post-H4 halving, a position historically associated with BTC Season, though this cycle has deviated from past patterns. Cycle context: At day 757 post-H4, the concentration gap versus the historical average is closing, narrowing from -22.2 percentage points on 2026-05-13 to -21.6 percentage points today, suggesting a move back toward typical post-peak behavior. This cycle has been structurally different from prior cycles, however. Watch for a sustained rise in BTC dominance above 35.4% for three consecutive days, which would refute the current reading. See hourly reading at banger.today/lens for finer context. This is structural observation, not financial advice. Data: banger.today