I've noticed some people still don't understand what cyclical positioning in the crypto world means. Newcomers don't understand, and veterans don't remember? Of course, there are subtle differences. In 2022, we waited until a month after FTX's collapse before starting our positioning, patiently waiting for the cleanup. This time it was a bit earlier, a compromise, because I was really tired of being asked. Also, this positioning includes Bitcoin but not Ethereum, and the goal for next year isn't doubling; I'd be happy with a few dozen points.