$ETH It played out according to our script, reaching 2,490 before quickly pulling back. My view all along was that a large number of shorts had piled in toward the end of the previous downturn, pushing Ethereum funding rates into negative territory. The market then rebounded sharply with the trend, squeezing shorts. But that liquidity came from liquidating short positions, not from fresh capital entering the market. So once the short squeeze was over, the market would still move sideways and down. Shorting the Ethereum ecosystem at $ARB was also perfectly reasonable. Once again, I wrote the perfect script in advance today!