Analysis · Nov 12, 2026 17:21 UTC

perpetual futures keeps surprising consensus on hedging demand

Attention jumps quickly; capital moves more slowly.

Against the backdrop of “'A Massive Mistake': Tech, AI and Crypto Founders React to Jensen Huang’s Nvidia Exit” and “Anchorage Digital’s Stablecoins Can Now Settle Payments on Visa’s Network”, positioning still matters more than slogans.

If dollar strength deteriorates while rate-cut expectations looks fine, the tape often turns defensive first.

Mapping perpetual futures against treasury diversification is a simple way to stress-test a thesis.

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