$MUU fell 1.444% over the past 24 hours, and the price is 32.77. As the underlying asset for a TradFi perpetual contract, its performance is directly tied to expectations for U.S. stock market policy.

My view is that this pullback is a normal retracement of risk assets under political uncertainty, not a trend reversal. The funding rate staying at zero suggests neither the long nor the short side has formed overwhelming expectations, and the positioning costs are neutral. Judging from the price action together with the funding rate, this is a single-signal read: there is no clear one-way catalyst.

Trading tag: #TradFi #链上美股 #MUU

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