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basically: if BTC moves 1%, then ETH moves 3%, and DeFi moves 9%, all in the same direction so if BTC is down 2% and ETH down 4%, that isn't BTC doing well--BTC is doing *worse* than expected given the ETH move

10:28 AM · Sep 21, 2020Twitter Web App

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SBF

@SBF_FTX

Sep 21, 2020

eh I don't think there's direct alpha but e.g. I think if some asks "should you short BTC / buy ETH because ETH is down too much w.r.t. BTC", I don't think it's clear that's true.