Trend · Nov 11, 2026 00:21 UTC

perpetual futures quietly dominates hedging demand: reading the Chip Stocks tape

Ignoring open interest because cycle psychology looks exciting is how late-cycle mistakes compound.

That debate sits next to today’s market focus around “AI Chip Stocks are Cheapest in 15 Years. Is the Sell.”

Ignoring stablecoins because dollar strength looks exciting is how late-cycle mistakes compound.

Improvements in open interest without confirmation from cycle psychology tend to fade faster.

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