BTC/USDT perpetual: the price source is not the strategy

What BTC/USDT perpetual means in this report

The report names Binance’s BTCUSDT perpetual future in the USD(S)-M market as its source. BTC is the asset referenced by the price and USDT is the unit used for prices, costs and valuations in this study. The chart does not combine all Bitcoin markets or supply a conversion from USDT to US dollars.

The important distinction here is between the contract’s price series and the strategy applied to it. Using perpetual-futures prices in a historical calculation does not demonstrate a spot purchase, ownership of BTC or an executed derivatives position. The linked report explicitly says there were no real orders.

How RavenInvestor obtains the historical prices

The declared inputs are public Binance aggregate-trade archives, aggTrades. Our own system builds candles from those records: first one-second candles, then one-minute candles and higher timeframes. For the linked monthly-purchase study, the selected prices are the daily opening on each purchase date and the daily closing prices used for valuation.

A price needs both a market and a timestamp. The study’s opening is 00:00 UTC on the first day of the month. Its final valuation uses the last complete day in the supplied report. A different time within the purchase day can produce a different price. This describes obtaining data for analysis, not instructions for opening an exchange account or placing a contract order.

Fixed BTC quantity is not a fixed cash contribution

A fixed-BTC schedule keeps the amount of BTC in each simulated purchase unchanged. The cash contribution then varies with the purchase price. A fixed-cash schedule instead holds the contribution constant and allows the quantity purchased to vary. They are different rules and cannot be interchanged when describing a result.

The linked study specifies 0.0001 BTC per purchase. Its average cost is total contributions divided by accumulated BTC, as defined by the report. The portfolio-value curve includes additional purchases as well as price changes: rising value alone does not isolate investment performance.

What this price data can—and cannot—help explain

A consistently identified series allows a reader to follow which prices a historical simulation used, compare purchase dates with a common valuation date, and distinguish contributions from changes in value. The market, candle timeframe, cutoff and costs belong alongside the result, not in an unspecified background assumption.

For the linked study, the sample is 12 purchases within one 338-candle daily window. It is not a repeated test across different market windows. No real fills are demonstrated and commissions, spread and slippage are omitted. The report warns that the perpetual price can differ from spot; it does not specify margin, leverage or funding mechanics. Those missing details prevent interpreting the illustration as a complete derivatives-trading backtest.

A useful reading order is: identify the instrument and unit, locate the timestamps, check whether the rule fixes BTC or cash, separate contributions from value, and read the cost exclusions. Historical similarity does not guarantee the same future outcome.

Application and source

Read the twelve monthly BTC purchases analysis, with the original chart, purchase ledger and fingerprint of the report dated October 5, 2026, 12:47 UTC.

Declared source: Binance public BTCUSDT aggTrade archives.

Educational financial information. Not personalized investment advice or a recommendation to buy BTC or trade derivatives. Historical gains do not guarantee future gains.