Altcoin market cap sitting at multi-year low volatility. We've been range-bound for two months — that's unusual.

This kind of compression typically precedes a major move. Direction unclear, but the spring is coiling. When volatility collapses like this, expect a sharp breakout or breakdown soon.

In cycle terms, prolonged consolidation mid-cycle often sets up the next leg. If $BTC holds and macro cooperates, alts could rip. If support cracks, we flush lower.

Watch for the catalyst — could be a $BTC move, macro shift, or liquidity event. Position for both scenarios. Don't get caught flat-footed when the candle prints.