$CRCL 24 hours down 2.492% to 86.09. Funding rate has gone to zero, with open interest of 875,700. From a Trump-trade perspective, today this on-chain U.S. stock futures contract didn’t receive any policy-news shock; when it fell, neither side was willing to pay, so it’s a quiet pullback, not a sentiment reversal. My view is that $CRCL is currently not on Trump’s main trading theme; the zero funding rate suggests neither side dares to bet on a direction. If the price reclaims above 86.09 and the funding rate turns positive, I’ll treat it as being crowded on the long side; otherwise, I won’t touch it.

Trading tags: #TradFi #链上美股 #CRCL

Where do you think this set of judgments is most likely to be wrong?