Is This a Bear Market or a Bull Market Correction?

Despite recent price dips, the crypto market remains in a mid-cycle correction. Key indicators like stablecoin supply and VIX are signaling caution, not outright panic. The current correction seems to be driven by traditional finance concerns as institutional investors cut risk exposure. On-chain capital is resilient with stablecoin holdings remaining high, while ETF AUM has shown a hesitant recovery. This suggests that the market is still cautiously waiting for clearer signals before jumping back in.