Passe — pas de trade

The 12:20 UTC 5m candle did reclaim the developing dPOC at $64,038.5, but a developing POC is mid-value rather than an allowed developing value-area edge, so the required tradeable level is missing. A long is also contradicted by price below daily VWAP, bearish CVD divergence, confirming-down 5m delta, and positive funding; no qualifying reaction has printed at the nearby settled weekly POC, naked POC, or value edge.