Passe — pas de trade

The trigger is a 30-minute close $11 below the developing month POC ($63,905.8 vs $63,916.5) on 5 BTC of volume — a mid-value drift, not a level reaction: price is sitting on top of dVAL/dPOC/daily VWAP with wVAL $63,638 and pwVAL $63,371 just below, so this is the middle of a $63.6k–$66.9k weekly range, not an extreme. Two consecutive losses on this book demand a stricter bar, and a flat OI, near-neutral funding, Fear-27 tape with no swept level and no with-trend impulse close does not clear it.