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one of the clearest patterns in polymarket’s short-term btc markets shows up off-platform. across ~11.8k polymarket btc up/down cycles, binance spot volume jumped into the close when the polymarket contract was still trading like either side could win. when the contract was already priced away fro
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“Rallies are increasingly being sold rather than accumulated, signalling that the market remains in a structurally defensive phase until spot demand meaningfully returns,” Bitfinex Alpha describes how fragile $BTC markets have become to @wsj https://t.co/SRlmUOQ7ai