$STXX over the past 24 hours fell 1.494% to 848.04; the funding rate is 0, with 1671.70 open positions. No new moves from Trump; the US stock-linked effect has paused. On-chain futures show reduced volume and range-bound consolidation. A neutral funding rate suggests longs and shorts are locked in a stalemate. Low OI reflects weak positioning intent, and the slight price dip is all just waiting. The shorts have no profit and the longs have no incentive—liquidity has quickly dried up. If Trump suddenly makes a favorable statement, the price could jump up instantly, but the current data doesn’t support chasing. If the price breaks above 860 or falls below 840, my consolidation view will no longer hold.

Trading tags: #TradFi #链上美股 #STXX

Where do you think this trading thesis is most likely to be wrong?