$ARM spot 245.66, up 17.953% over the past 24 hours. Open interest is 28,472.38, and the funding rate is zero. The price surged sharply yet there was no long-side funding, indicating that one-sided crowding on the contract side has not yet formed. The move looks more like a high-beta re-rating driven by an expansion in risk appetite. There is a lack of data to validate the spot sentiment; I won’t directly attribute this rally to long-term/long-line capital entering.

I treat CPI, personal consumption expenditures, and non-farm payrolls as verification variables for the interest-rate path.

Trading tag: #TradFi #链上美股 #ARM

In the broader environment, is it bullish or bearish for ARM? Tell me your view.