risk appetite is forcing a rethink of basis compression
Historically, stretches where on-chain fees leads without support from perpetual futures invite sharper reversals.
Even when feeds obsess over “Bitcoin Price Falls Below $72,000 as Nvidia CEO Jensen Huang Steps Down and Strategy (MSTR) Slides,” the durable question remains process versus prediction.
Desks that separate stablecoin velocity from stablecoin settlement tend to react less emotionally to noise.
The loudest story is not always the decisive one.
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