Here's the data. I looked at a client site that suddenly tanked after a big link cleanup, and they disavowed a bunch of low-quality spam. CVR dipped for a week, then shot back up. Turns out, disavowing harmful links can help clean the link profile but overdoing it or disavowing legit refs kills your trust signals. I did a side test with a similar site that left the bad links alone. CVR stayed steady or improved slightly, because it kept the natural link diversity. Bottom line: only disavow if you're sure those links are toxic. Don't use it as a blunt weapon, it's a fine scalpel, not a hammer. Most of the time, a clean profile without over-disavowing is better.