Trend · Nov 11, 2026 00:20 UTC

basis trades is forcing a rethink of treasury policy

Historically, stretches where basis trades leads without support from stablecoin minting invite sharper reversals.

Keeping a written thesis helps avoid narrative whiplash.

That debate sits next to today’s market focus around “Bitcoin Falls Below $73,000 to Fresh 10.”

Ignoring macro liquidity because lending markets looks exciting is how late-cycle mistakes compound.

Treat wallet UX as the constraint and options skew as the amplifier, not the other way around.

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