Grayscale: BTC rebound signals resilient phase bottom

Grayscale's framing matters less as a forecast than as a signal of how institutional voices are positioning the current drawdown: not a capitulation, but a base. The claim rests on price resilience against macro uncertainty, which is a softer evidentiary standard than on-chain accumulation or flows. For readers tracking RWA and crypto allocators, the relevant question is whether stability holds if macro conditions deteriorate further, or whether this is a pause inside a longer repricing.