US crypto perps are live but Bitcoin may be the only market many traders can actually use
Kalshi’s broader board is now visible, but depth, spreads, funding, and venue habit will decide whether alt markets matter
Market Pulse
Strategy loses its bitcoin premium as enterprise mNAV dips below 1
40 on Friday, leaving the preferred shares about 25% below par
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Strategy enterprise mNAV falls below 1 as STRC hits record low
Strategys enterprise mNAV fell below 1 as STRC hit a record low and Bitcoin traded near $60,000, pressuring its funding model
BTCNEAR
Metaplanet bets Bitcoin treasury firms can survive by packaging Bitcoin income
Regulated securities rails could give BTC treasury firms a new engine, if product demand and mNAV math hold up
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