It was originally expected that BTC would reach the pressure level above 48,000 corresponding to the golden section of 0.618, which would form a short-term top in conjunction with the positive implementation of ETFs. Now that the point has almost arrived, it is a bit embarrassing that the ETF made an own mistake and left it unresolved. Currently holding ETH spot + btc sub-quarter contract short, the hedging strategy is betting that eth/btc will rebound + btc sub-quarter contract premium narrows. There are too many copycats and I don’t want to do them anymore. Let’s celebrate the Chinese New Year well.