This page is a market-conditions snapshot. It is not a trade idea. The purpose is to document whether the environment behaved like acceptance or rejection for typical ETH/USDC ranges during the month.
January 2026 showed volatility expansion with repeated range stress. Edge touches were frequent and breaks clustered, reducing time-in-range persistence.
In expansion regimes, fee accumulation becomes less reliable. Even if fees rise, the probability of structural damage rises with it because out-of-range episodes last longer and inventory drift compounds.
When break frequency and persistence exceed tolerance, the structural output is LP OFF. That output does not predict direction. It simply reflects whether the environment is compatible with range-based fee capture.