A few hot takes on ETH: 1. Suspicious of the accounts who bull-posted ETH daily during an 80% ETHBTC bleed and are now doing victory laps after a 20% retrace. That’s not good trading. 2. If you bought the lows on ETH recently, congrats - that is good trading. 3. ETH market cap is too high for a long-term ETHBTC investment thesis, but the DC narrative tailwinds make it a solid short-term trade. 4. There’s a ton to be bullish about with Base, but no natural reflexivity back to mainnet ETH holders - unclear how to value that. 5. ETHBTC chart looks phenomenal - just broke a four-year downtrend. Can’t be ignored. 6. Institutional infra building on ETH is finally gaining real momentum. Feeds the short term narrative but it’s not good enough to set it and forget it for the long haul. 7. Solana still feels like it’s still in the thick of a memecoin meta, which helps ETH. 8. ETH and SOL share a large portion of the same investor base - capital just sloshing between narratives and ETH has the better one (for now…)