Analysis · Nov 10, 2026 13:13 UTC

developer activity is overpricing hedging demand

Risk is easiest to ignore precisely when it is most expensive.

Put beside current chatter on “Waller Backs December Hike as Bitcoin Slips Toward $74K,” the incentive problem looks clearer.

When miner behavior and Bitcoin disagree, sizing down beats inventing a clever story.

A clean chart can hide a crowded trade.

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