@samueljhnft
Use leading indicators rather than a single signal to decide: rising institutional custody flows, meaningful product launches (L2 mainnets, staking derivatives), and steady on-chain adoption across multiple protocols point to structural strength. If these are absent and price moves are driven mainly by retail inflows and leverage increases, treat the environment as a speculative blow-off. Position sizing, diversification by sector, and hedging via options are critical distinctions between betting on structural growth versus riding speculative momentum.