Trend · Nov 3, 2026 12:32 UTC

perpetual futures keeps surprising consensus on builder priorities

Ignoring custody rails because miner behavior looks exciting is how late-cycle mistakes compound.

Revisit assumptions weekly; markets change faster than slogans.

That debate sits next to today’s market focus around “Stocks Rose a Year After Every Midterm Since 1982. Will 2026 Keep the Streak?.”

Cycles rhyme, but the plumbing underneath keeps changing.

Keeping a written thesis helps avoid narrative whiplash.

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