order-book depth is underpricing event-driven flows

Keeping a written thesis helps avoid narrative whiplash.

The edge is often just refusing to confuse volume with conviction.

That debate sits next to today’s market focus around “BitFuFu’s October Bitcoin Mining Output Falls Despite Steady Hashrate.”

Treat market makers as the constraint and RWA tokenization as the amplifier, not the other way around.

Meanwhile, RWA tokenization can either confirm the move or expose it as temporary.

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