📉 $ETH market structure improving post-Binance leverage flush, but still no real buyers stepping in.

CryptoQuant data shows the reset happened, yet bid-side remains anemic. Classic dead cat bounce setup unless spot volume actually shows up.

Watch for:
• Spot CVD turning positive
• Open interest stabilizing without another dump
• BTC correlation breaking

Until then, this is just cleanup from overlevered longs getting nuked. No conviction yet.