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Research · 研究 · Foundations

Foundations.
The vocabulary.

The concepts everything else stands on: momentum, dominance, funding, ATR, Sharpe, drawdown, liquidity. Answer-first explainers, each tied to how a rules-based crypto board actually uses the idea rather than the textbook abstraction.

7 published measurements · top-100 liquid universe · regime dial with fixed thresholds · recomputed daily at 00:05 UTCEvery formula published · the board · attested daily · research, not advice
5 notes · Foundations
Research · 研究 · 34 · Foundations

A fine thermometer, a terrible oracle.

One division with two distortions: the stablecoin denominator problem, the quality of summed market caps, what dominance readings have accompanied, and the joint read.

13 Jul 20264 min readFoundations
Research · 研究 · 35 · Foundations

The chart shows the market cap. The obligation is the FDV.

Price times what, exactly: the low-float worked example, unlock cliffs and emission drips, the float-ratio habit, and why momentum screens attract exactly this failure class.

13 Jul 20265 min readFoundations
Research · 研究 · 36 · Foundations

A poll where every respondent pays to vote.

The mechanism that anchors perpetuals to spot, the annualized arithmetic that makes 0.01% expensive, and funding as a paid poll of positioning worth watching from spot.

13 Jul 20265 min readFoundations
Research · 研究 · 37 · Foundations

No news behind the candle. Just leverage meeting thin bids.

The forced-selling chain reaction behind crypto's newsless crashes: the mechanics, why this market breeds them, the famous episodes, and how to read a cascade on a chart.

13 Jul 20265 min readFoundations
Research · 研究 · 40 · Foundations

The drawdown is the result. The return is the compensation.

BTC has lost three quarters of its value twice in a decade; alt drawdowns start at ninety percent. The base rates, the recovery curve, and what depth does to decisions.

13 Jul 20265 min readFoundations