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Joao Wedson observes that, over the past two years, many respected on-chain analysts have begun to rely on narrative-driven analysis within the crypto sector, a trend he sees as both strange and troubling.
He expresses concern that many of these narratives may be heavily manipulated, fundamentally changing how on-chain data is interpreted.
Wedson previously noted that aggregated open interest has declined since May 5, indicating that institutional positions have been closed. In a separate post, he observed that long positions currently dominate over shorts for most cryptocurrencies. These observations highlight recent market positioning trends relevant to on-chain data analysis.