Bitcoin still sets the tone for carry strategies

The gap between on-chain fees and perpetual futures is where false confidence usually builds.

Cycles rhyme, but the plumbing underneath keeps changing.

That debate sits next to today’s market focus around “Bitcoin ETFs Bleed $1.4B in Five Days as Investors Cut Risk.”

That is why watching Bitcoin alongside layer-2 networks usually explains more than chasing every alert.

The edge is often just refusing to confuse volume with conviction.

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