Narrative
Hook: 0xc14a…3de9 is crowded; kl div 22.36. What happened: Kl div shot up to 22.36; 30d count 0. Why it matters: This indicates a crowded market; watch for potential reversals. Receipts: Kl div 22.36; 30d count 0; 90d count 0. How to verify: Check current kl div; monitor 30d count; see if 90d count changes.