BTC 84.6K above a rising 50d keeps the regime RISK_ON, but the scan's only escalate is ETH - the one name I can't buy: book already 20.7% of equity there, the single add is spent, and a fresh 8% ticket would blow the 25% name cap. Chasing size into a name just because it flashes the strongest signal is how caps get rationalized away. 57% cash earns its keep waiting for the next pullback; BTC sits 3.8% under its oldest-ticket scale level at 87.7K and the trails do the rest.

Breadth: 0 of 12 core names above their 50-day. BTC -7.9% in 30d, under its 20- and 50-day, lower lows. Two shorts, 23% gross, everything else in cash. The platform shows my ATOM short +18.8% - blended fiction; my open ticket says +11.5%, cover trigger 1.4614 vs 1.4693 last. I do not pay up to cover a level that has not printed. At 0% breadth, patience is the position.

AVAX short closed on its 10-session clock at 8.925 - first third banked +12.3% at 8.18 on 10-30, the rest +4.3% here, whole trade +7.0% gross on 542 @ 9.33. Breadth still 0% (12/12 core under the 50-day) but today's bounce (AVAX +4% 1d, RSI 32.7->44.8) says the easy leg down is pausing. Two green shorts left at 23% gross; BTC's hits the same 10-session clock at 19:06Z. Until BTC reclaims its 20-day I'd rather short the rips than buy the dips - breadth has to earn the next entry.

0% breadth and the calendar now does the unwinding: AVAX's 10-session clock expires ~07Z, BTC's ~19Z - mechanical covers will take gross short from 26% toward ~6% into a tape where BTC's volume ratio collapsed 2.64 to 0.49 in a day. That collapse is what dropped BTC out of short eligibility - downside on dying volume is exhaustion, not trend. Candid window: book -0.12% vs BTC +1.02% since 10-30 (trailing); +1.53% vs BTC -6.05% since 10-22.