The market is now fixated on the thing that “the $BTC futures annualized return isn’t as good as Treasuries,” and I see it like an office worker realizing their year-end bonus has shrunk.

Price is still hovering around 62692; over the past 24 hours it just swung about -0.8%, with a high of 63796 and a low of 62300—like working a full day but only moving your desk a little.

The funniest part: spot trading is 622 million, but the futures side has hit 5.625 billion—nine times as much.

The funding rate is only +0.0037%, and there are still 111087 $BTC in open positions piled up.

I was scrolling through these numbers on the subway, and one thought popped into my head: so many people are watching it, yet the returns collapse like my contract curve from last year 😅

Now everyone’s staring at it—not because it’s suddenly that powerful, but because it’s no longer as tasty as it used to be.

$BTC #BTC走势分析 #BinanceSquare