Passe — pas de trade

The 01:30 UTC 15m candle did close below the developing dVAL at $64,710, so a structural trigger exists, but directional corroboration is conflicted: CCV short bias, positive funding, and price below daily VWAP favor downside, while the 4h CVD bullish divergence and flat 5m delta do not confirm the break. With broader confirmation missing, this is a pass rather than a short on the level loss alone.