The SEC approved the listing of a 3x Bitcoin ETF. The news itself points to leveraged Bitcoin exposure, but by the end of the week, BTCUSDT was down 2.8% for the week, COINUSDT was down 1.83%, MSTRUSDT was down 2.03%, and HOODUSDT was down 3.2%. Not one of the four Binance trading pairs we reviewed closed in positive territory. The news and prices didn’t line up this week. It’s not the first time, and it won’t be the last.
The week’s action actually offered an opportunity. On 10-04, BTCUSDT rose from 84710.5 USDT to close at 86482.8 USDT, up 2.09%. MSTRUSDT and HOODUSDT also closed higher that day—the positive sentiment was real. But on 10-01, MSTRUSDT rose 5.08% in a single day, reacting much faster than BTC itself, suggesting that money flowed first into stocks tied to Bitcoin holdings. By 10-07, all four assets had pulled back together: BTCUSDT fell 1.69%, COINUSDT fell 1.65%, MSTRUSDT fell 2.09%, and HOODUSDT fell 1.21%, giving back most of their earlier gains.
Popular posts on Binance Square argue that the launch of leveraged products will create a new channel for capital, with companies holding Bitcoin and platforms that rely on trading volume benefiting first. That’s why COINUSDT, MSTRUSDT, and HOODUSDT keep coming up (paraphrased; this does not represent this site’s views). I agree with the logic, but this week’s closing prices don’t back it up—all four assets finished in the red. My view is that news shapes the medium- to long-term narrative, while weekly performance shows who made money this week. The two often operate on different time scales.
The BTCUSDT weekly sample covers 200 weeks, and 149 weeks performed better than this one, putting this week at No. 150—somewhere in the lower half of the sample. Historically, this was a relatively weak week; don’t mistake it for a turning point. Leveraged exposure amplifies volatility, not direction. USDT-margined perpetual contracts on US stocks can also gap during market closures, and holding positions overnight means dealing with funding rates. The default maker fee is 0.02% and the taker fee is 0.05%; after a 20% rebate, the effective rates are 0.016% for makers and 0.04% for takers. Anyone who rebalances frequently can see what those numbers mean when set against a weekly move of -2.8%. #SECApprovesListingOf3xBitcoinETF
#币安 #手续费 $BTC
The week’s action actually offered an opportunity. On 10-04, BTCUSDT rose from 84710.5 USDT to close at 86482.8 USDT, up 2.09%. MSTRUSDT and HOODUSDT also closed higher that day—the positive sentiment was real. But on 10-01, MSTRUSDT rose 5.08% in a single day, reacting much faster than BTC itself, suggesting that money flowed first into stocks tied to Bitcoin holdings. By 10-07, all four assets had pulled back together: BTCUSDT fell 1.69%, COINUSDT fell 1.65%, MSTRUSDT fell 2.09%, and HOODUSDT fell 1.21%, giving back most of their earlier gains.
Popular posts on Binance Square argue that the launch of leveraged products will create a new channel for capital, with companies holding Bitcoin and platforms that rely on trading volume benefiting first. That’s why COINUSDT, MSTRUSDT, and HOODUSDT keep coming up (paraphrased; this does not represent this site’s views). I agree with the logic, but this week’s closing prices don’t back it up—all four assets finished in the red. My view is that news shapes the medium- to long-term narrative, while weekly performance shows who made money this week. The two often operate on different time scales.
The BTCUSDT weekly sample covers 200 weeks, and 149 weeks performed better than this one, putting this week at No. 150—somewhere in the lower half of the sample. Historically, this was a relatively weak week; don’t mistake it for a turning point. Leveraged exposure amplifies volatility, not direction. USDT-margined perpetual contracts on US stocks can also gap during market closures, and holding positions overnight means dealing with funding rates. The default maker fee is 0.02% and the taker fee is 0.05%; after a 20% rebate, the effective rates are 0.016% for makers and 0.04% for takers. Anyone who rebalances frequently can see what those numbers mean when set against a weekly move of -2.8%. #SECApprovesListingOf3xBitcoinETF
#币安 #手续费 $BTC