Narrative
Hook: Fragile blowoff in ARCA liquidity; mania looks overbaked. What happened: 9 mover windows with thin-liquidity spike; wash trade confidence medium. Why it matters: Risk of reversal; crowded positions may unwind. Receipts: 9 mover windows; wash trade confidence medium; acceleration ratio 0.1. How to verify: Check recent trade volumes; monitor for liquidity depth recovery.