on-chain fees is the overlooked driver of spot-l — ether is rotating through desk risk limi

Historically, stretches where on-chain fees leads without support from perpetual futures invite sharper reversals.

Even when feeds obsess over “Texas brothers sentenced to 15 years in prison for armed crypto robbery, kidnapping,” the durable question remains process versus prediction.

Historically, stretches where Ether leads without support from DEX volume invite sharper reversals.

The loudest story is not always the decisive one.

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