perpetual futures keeps surprising consensus on builder priorities

If both on-chain fees and perpetual futures improve together, follow-through is more believable.

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

That debate sits next to today’s market focus around “$125 Billion US Treasury Sale Starts Soft: Why Bitcoin May Feel Tuesday's Test.”

The healthier setup is alignment: on-chain fees improving while perpetual futures stays orderly.

None of this is financial advice; it is a framing for cleaner decisions.

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