Price drops below 42, down nearly 4% over the past 24 hours. BSP can’t withstand the narrative of Trump escalating tariffs.
This is a single-signal judgment, but the direction is very clear. The funding rate has returned to zero, indicating a temporary balance between long and short positions, with no extreme crowding. However, once the price breaks down, and the open interest is still over 18,000, it’s not good if the market just consolidates at this level. In 2025, Trump imposed “Liberation Day” tariffs, and now in his second term he’s adding even more. Tech stock supply-chain costs are skyrocketing. As an on-chain U.S. stock contract, BSP directly maps the panic in traditional markets.
An article from Medical Economics put it plainly: the selling pressure on tech stocks comes from investors rushing to offload the profit they booked from 2023–2024. The tariff blow hits the supply chains of Apple and Nvidia. BSP gets hit as well.
What’s the strongest counter-evidence? Trump himself is rebalancing his portfolio. A CNBC single-source report shows that in June he sold Meta and bought Berkshire Hathaway and RTX. If later he suddenly shifts to messaging that supports tech independence or AI infrastructure, sentiment could flip instantly. But there’s no signal like that right now. At the moment, tariffs are the main contradiction; everything else is noise.
Second-order effects: capital in tech stocks in traditional markets will keep flowing out, and some may move into safe-haven assets like gold or Treasury bonds. Liquidity for on-chain U.S. stock contracts will thin out, and volatility will increase, because both hedging positions and speculative positions are looking for direction. For a target like BSP, once liquidity worsens, the price can easily be knocked down by relatively small orders.
Conditions that would invalidate my view: two. First, BSP quickly reclaims 42.5 and holds above it, indicating the selling pressure was a false breakout. Second, the Trump administration clearly signals easing of tech tariffs, or releases specific favorable policies for tech companies. If either of these conditions appears, the bear thesis falls apart.
Action: I’m not going long on BSP right now. Instead, if it bounces to around 42.2 and faces resistance, I would consider a small short position. Contract parameters: short direction, 5x leverage, stop-loss at 42.5 (set above the recent minor high), take-profit at 39 (looking toward the prior low and the psychological level of the round number), position size 10%. If it breaks directly below 40, I won’t chase the short—wait for the bounce.
Three scenarios: the aggressive approach is to test shorting with a small position at the current price, betting the tariff narrative keeps intensifying. The steady approach is to wait for the rebound to around 42.2 and confirm the pressure there before shorting. The avoidance approach is to not touch it directly—wait for BSP and the entire tech-stock sector to digest the tariff-negative news.
Trading tag:
#TradFi #链上美股 #BSP
Where do you think this set of judgments is most likely to be wrong?