The US-open crypto tape looks selective, not euphoric.

$BTC is near 64.1K on Binance, up about 0.8% in 24h, but still boxed between the 63.2K low and 64.6K high. $ETH is near 1.73K and slightly negative, so the market is not getting broad confirmation from the second major. The cleaner relative-strength read is $SOL near 73.7, up about 3.1%, while BNB is only modestly green and XRP is slightly red.

The backdrop argues for patience. BTC dominance is around 56.3%, Alternative.me prints 23 Extreme Fear, and Binance futures funding is only mildly positive. The Square trend around a Japan corporate pension fund allocating to crypto matters because it supports the long-term diversification narrative, but today the spot chart still needs range acceptance.

For the next session, I am watching whether SOL strength survives if BTC keeps chopping below 64.6K. Is this institutional-allocation story enough to widen risk appetite, or is it still a range market? #japancorporatepensionfundallocates1%tocrypto