macro liquidity still sets the tone for carry st — deFi angle: perpetual futures is support

Meanwhile, treasury diversification can either confirm the move or expose it as temporary.

Put beside current chatter on “Bitcoin briefly sinks to $75,700 as bets on a Democratic sweep rattle markets,” the incentive problem looks clearer.

Desks that separate perpetual futures from treasury diversification tend to react less emotionally to noise.

Markets rarely move for a single reason.

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