Core Insights - The article emphasizes that market collapses often occur quietly and are preceded by structural weaknesses that are not immediately visible to investors [2][10] - Investors tend to focus on price movements, which reflect past performance, rather than underlying market structure, which can indicate future trends [5][9] Group 1: Market Dynamics - Historical examples illustrate that significant market declines often happen after prolonged periods of apparent stability, where underlying issues go unnoticed [1][8] - Modern market structures, including passive investing and concentration in a few large companies, increase the likelihood of silent collapses [3][6] Group 2: Indicators of Market Health - Key indicators to monitor include breadth versus index levels, liquidity measures, leadership concentration, short interest in quiet stocks, option skew, and credit spreads [6][8] - A rising index with declining breadth is a reliable warning sign of potential market trouble [6] Group 3: Investor Behavior - Investors often miss quiet collapses because they are conditioned to expect dramatic events, leading them to overlook subtle signs of deterioration [7][10] - The financial media tends to focus on more sensational metrics, which can distract from critical underlying market conditions [7] Group 4: Strategic Recommendations - Investors are advised to evaluate position sizing based on liquidity rather than conviction and to stress test portfolios for adverse conditions [9] - Shifting focus towards companies with strong balance sheets and countercyclical cash flows is recommended to mitigate risks associated with crowded trades [9]

📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ Joey Krug (Founders Fund partner, former Pantera co-CIO, and Augur co-founder) returns to unpack whether the “crypto-native era” is fading as institutions and mainstream apps adopt crypto rails without adopting crypto culture. We dig into prediction markets’ breakout (and why Polymarket finally found product-market fit), the coming regulatory fights around market structure and “insider” edges, and what’s next for foun ...

Photo by BeInCrypto US inflation delivered its biggest downside surprise in months. Yet instead of a sustained rally, both Bitcoin and US equities sold off sharply during US trading hours.  The price action puzzled many traders, but the charts point to a familiar explanation rooted in market structure, positioning, and liquidity rather than macro fundamentals. What Happened After the US CPI Release Headline CPI slowed to 2.7% year over year in November, well below the 3.1% forecast. Core CPI also under ...

Regulatory Landscape & Innovation - CFTC (商品期货交易委员会) 在代币化、现货交易、连续市场和数字资产监管方面取得进展，反映了全球金融发展趋势 [1] - Kraken 积极参与受监管的期货和衍生品生态系统，拥有注册的 FCM (期货佣金商) 和 CFTC 许可的 DCM (指定合约市场) [3] - 美国需要立法明确性和运营准备，以保持在市场基础设施方面的领导地位 [3] - 美国有机会引领市场基础设施的下一个篇章，否则领导地位将转移 [6] Principles for Market Structure - 开放系统、互操作性和用户所有权是重要原则，创新、消费者保护和机构保障可以相互加强 [2] - 强大的规则、开放的架构、可互操作的系统和透明的运营是技术和金融领域取得强大成果的关键要素 [4] - 行业倡导针对加密货币现货交易的直接规则、跨机构的互操作框架、反映全球流动性的连续市场结构以及代币化抵押品和稳定币的明确标准 [5] Vision for the Future - 行业支持奖励透明度和系统完整性的监督模型 [5] - 行业致力于建立一个反映开放性、竞争和用户所有权的现代金融体系 [7] - 创新和监管相结合，可以为消费者和机构提供更好的产品，并加强美国在全球经济中的地位 [7]

Stablecoins saw meaningful movement this week across market structure, institutional adoption, and protocol launches.Get all the details in this week's edition of In The Stables 👇Alexander (@ahbeaudry):https://t.co/hPsrvdr3pJ ...

RT benedict (@bqbrady)Very special new job posting. We are building an internal research lab to explore some extremely exciting new ideas for DeFi market structureLearn more here: https://t.co/N6Gbfgz1up https://t.co/VDUYcqdBpi ...

RT Eugene Chen (@0xShitTrader)Prop AMMs like @SolFiAMM are the first live proof that under some circumstances, fully on-chain liquidity can outcompete centralized exchanges on majors.Further improvements in market structure will continue to be non-skeuomorphic to what exists on centralized venues.There still remains lots of opportunity at the frontier of on-chain market structure and @ellipsis_labs actively pursues it. Some areas of research I have my eye on:- On-chain routing- On-chain flow discrimination- ...

Key Crypto Subfields - MEV (Miner Extractable Value) is a crucial and asymmetrical area in crypto [1] - Market structure is a significant subfield [1] - Privacy solutions are essential in the crypto space [1] - Perpification of new assets is gaining importance [1] - Scalability, especially burst scalability, is a key focus [1] - Trading modalities are evolving within the industry [1] - Market-based governance mechanisms are being explored [1] - DeFi composability remains a core aspect [1] - Zero-Knowledge (ZK) technologies are vital [1] - Adding basic vesting contracts to token launches is important [1]

Inside the Push to Pass the Market Structure Bill https://t.co/3VOhgEYcLe ...

Crypto’s $450 Billion Lesson In Market Structure https://t.co/O880rQA8Ms ...