"Separate sentiment from fundamentals when evaluating assets Chris Brendler observes that despite severe geopolitical stress and poor retail sentiment, crypto markets held up because underlying fundamentals kept improving. He argues that 'sentiment's really bad, fundamentals continue to improve — that's a really, really good long-term investing environment.' This distinction matters practically: when fear dominates headlines, the right question is not 'how does this feel?' but 'have the structural drivers changed?' Source: Chris Brendler, Milk Road, Geopolitics, Crypto & the Fed with Chris Brendler"