Established a BTC based ETH/BTC exchange rate short position. Technically speaking, BTC is highly likely to form a false breakout at the weekly level and a triple top divergence at the daily level. Once BTC technology turns around, it will have a huge impact on retail investors engaged in secondary speculation. Fundamentally speaking, the rebound of 7.4 to a new high of 110000 is entirely driven by the narrative of off exchange ETF funds or digital gold, which has propelled BTC to lead the way. There is no fresh narrative driving the trend in the cryptocurrency market, and the overall trend of altcoins is more like a retaliatory rebound after the liquidity of a bear market has dried up. There are only a few local meme hotspots, and the big public chain sector that best represents altcoins is not outstanding. There have even been vicious incidents of celebrity public chain Sui being stolen. I use BTC as a margin for short exchange rate. If the cryptocurrency market continues to rise, Bitcoin will still be the preferred choice for large funds both inside and outside the market, with low risk exposure and room for operation. Risk points: ETH exhibits innovation or narrative at the level of human civilization, igniting the knockoff season. Macro black swan stimulates Federal Reserve's massive water release policy Just for personal records, I don't want to go this far either, after all, the knockoff season is the best way to make money