$INTW surged 10 percentage points in one day, and the funding rate is still 0. On-chain US stock futures contracts are highly correlated with Trump’s stance toward tech stocks. He’s been backing Silicon Valley leaders lately, which is bullish for tech valuations. Right now neither side has made a move yet—prices are rising but nobody is paying. That suggests this rally is event-driven rather than crowded sentiment. If Trump suddenly pivots to crack down on tech stocks, this could immediately reverse. As long as the price holds above 30, it’s fine. If it falls below that level, it means the political winds have changed. For spot, you can place orders in two batches: one around 34 and one around 30.

Trading tag: #TradFi #链上美股 #INTW

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