Watch three things when the market opens tomorrow to see how funds are repricing. 1. CME plans to launch UNI and BCH futures on October 19. More hedging tools don’t necessarily mean more buying pressure. Keep an eye on the first week’s open interest and basis—don’t rush to write a story based on the first candlestick. 2. Nasdaq 100 dropped about 5.5% last week. On Monday, watch how U.S. stock futures open, but more importantly, see if there’s follow-through after the opening. 3. The 10-year U.S. Treasury yield has pulled back to around 5.1%, but AI stocks haven’t bounced back. My take: the market is starting to question how long it will take to recoup investments in scaling up computing power with borrowed money. Financing costs are gravity; cash flow is confidence. Not financial advice.