> $ETHE closing discount gap faster than $GBTC - long #Bitcoin but trade where interest is moving to #Ethereum

yep - $ETH spot outperformed $BTC since end of march and $ETHE nav gap narrowed as well. With headline momentum for $ETH, expect ETH to hold in well against BTC and this #ETHE could trade at a premium as well

a dumb story: #Crypto during stock market hrs: > lets track the market. fixate on equity risk, treasury yield and #vix because *reasons*. intraday CORR 0.8 hell yah #Crypto when mkts are closed: > lets GAP some shit. we're a new asset we do what we want

thesis: > buy lowb since losers don't have the confidence to rug us > it took Vitalik 6 years to work up the confidence to rug retail #ShibaCoin #akita

memes born out of nuke weekend #memecoin #saylormoon #elon #Bitcoin

> when liquidations hit: #Crypto #Bitcoin

#crypto still trading like equities intraday again.. (i.e. dumping when equities do)... but much higher beta than usual IS THIS FEAR?

when things go up: > its all spot buying and your alpha is crushing. you did it without market beta. when things go down: > too much leverage in system clearly, and beta is to blame for your losses #Crypto #Bitcoin

#DiamondHands playoffs

curr. futures premia: #FTX $BTC 1231 > $ETH 1231 long $ETH 1231 if u think mkt run isn't over > better asymmetry than spot here 1. mkt sentiment bad: premia can expand 2. don't think we see prolonged backwardation given leverage wipe. far month less whippy. 3. eth catalysts

"fundamental" sanity check: seeing higher #FTX ETH 0924 premia to BTC 0924 but ETH 1231 premia is *lower* than BTC 1231? so mild contango but mkt expecting ETH being a higher beta on 3 horizon but not on 6 mo? also keeping in mind that #ETH borrow costs > than $BTC on avg

> if $DOGE is a religion > is $NFD a religious relic?

The real mistake here is to see Crypto and $SPX and $NDX apparent high correlation in a rotation - and letting that solidify in your mind as permanent truth Institutional allocating with risk models on *past* correlations need more creativity to imagine a decoupled future

books are thin reflexivity high intraday correlation extreme doesn't feel right

$ZRO this retraced way farther than I thought. if it's bouncing, it's going to do so here imo