Narrative
Hook: 0xc3ce…f1a5 is crowded; kl div 22.84. What happened: 30d recurrence of crowded conditions; 90d count 3. Why it matters: This pattern suggests potential market shifts; watch for reversals. Receipts: 30d count 3; 90d count 3; kl div 22.84. How to verify: Check 30d recurrence; monitor kl div changes.