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A guided reading order through Learn, re-sequenced around the Read (LEARN_SECTION.md §4) rather than the old Cycle/Flows/Setup/Portfolio page order. Each step is a page that already exists.

1. Read the Read. / with beginner mode on. What the state line means, what a driver is, why the base-rate panel shows N and the misses. Links to /methodology/read/.
2. Valuation. MVRV, Puell Multiple, Realized Cap. Where holders' cost basis sits relative to price.
3. Flows. Net Exchange Flow, ETF Net Flows, Stablecoin Supply. Where money is moving.
4. Leverage and volatility. Funding Rate, Open Interest, DVOL, Realized Volatility. How stretched positioning is.
5. Sentiment, macro, cycle. Fear & Greed, Macro backdrop, Halving Cycle Position. The context modules, and why the calendar cycle is one input, not the anchor.
6. Expressions and companies. How a bitcoin view shows up in other instruments - mNAV Premium and beyond. Stage 1.
7. Reading the receipts. Data and data sources. Freshness, source health, hand-maintained tables. How to tell a live number from a stale one.