Ethereum scaled. But the value leaked out. L2s exploded, apps grew, users increased… yet ETH itself lost fee capture, became inflationary again, and the “ultrasound money” narrative started cracking. Meanwhile Bitcoin’s story got simpler: Scarce. Neutral. Held by institutions through chaos. SpaceX held 18,712 BTC the entire cycle without selling a single coin. That contrast matters. ETH is becoming a complex tech economy. BTC is becoming reserve collateral. The market is starting to price them differently. BTC/ETH correlation breaking here would surprise a lot of people. #RateHikesBackOnTable #SpaceXHolds18KBTC #NvidiaBeatsButDrops