I don’t think these activities need a specific value, they can pay for a hedged position or just be fine with funding/withdrawal slippage tax (provided that exc

I don’t think these activities need a specific value, they can pay for a hedged position or just be fine with funding/withdrawal slippage tax (provided that exchanges are still functional). Also are you sure that psychological effects naturally converge to anything at all on the crypto market or in general? It’s usually strange attractors all the way down rather than a stable point.