According to @milesdeutscher, only use perps when you need capital efficiency or when you are hedging or farming; otherwise, stick to spot for cleaner carry. Source: @milesdeutscher on X, Sep 29, 2025. He warns that if you plan to hold a position for more than a week, especially a consensus trade, funding will erode returns on perps, making spot more cost-effective for swing holds. Source: @milesdeutscher on X, Sep 29, 2025. He adds that roughly 90% of perp setups should be long continuation or strength trades, highlighting how perps fit best with momentum rather than slow, crowded swings. Source: @milesdeutscher on X, Sep 29, 2025. He emphasizes spot’s no-liquidation benefit, noting it’s easier to sleep at night versus the liquidation risk embedded in leveraged perps; he is not anti-perps, but says they require a real edge and should not replace spot without a good reason. Source: @milesdeutscher on X, Sep 29, 2025.

According to @52kskew, a nine-figure whale has been aping into BTC long positions via derivatives, creating toxic flows that can undermine trend quality (source: @52kskew on X, Sep 12, 2025). According to @52kskew, traders should wait for spot-led buying to carry the move before chasing longs to reduce the risk of a perp-driven squeeze and fast reversal (source: @52kskew on X, Sep 12, 2025). According to @52kskew, confirmation requires sustained spot demand rather than leverage-led pumps to support a healthier BTC uptrend (source: @52kskew on X, Sep 12, 2025).