Some smart trader said that you have to smell the technicals and taste the fundamentals. My sentiment a balance of the fundamental situation as I think the feeling is the same as 2012 because while the structure is not the same, the sentiment is very similar and the wave structure is close enough.

The sentiment in 2012 was a true split between whether it will succeed or not which caused a price gridlock for a few months.
The sentiment now is a similar in that there are quite some unknowns around which shape bitcoin will take in the future. Until those are ironed out (i.e. the cap drama is settled), we will continue to see a flatline in price. I am not ruling out further capitulation, but going by price action alone I doubt it. The weak hands left quite a few months ago already.