You understand, this round of the bull market has nothing to do with it.
**The ETF approval is the brightest moment, and everything after is downhill.**
Grayscale has been selling for half a year, selling until the address is almost at the bottom. BlackRock's small holding hasn't moved in three months. Where is the hundred billion dollar allocation fund you were waiting for? Isn't it more appealing to buy US Treasuries for 4.5%? Why would you want to pick up an asset that has seen two years of declining income?
**L2 is not a son; it is a creditor.**
Arbitrum, Base, OP, daily active users are dozens of times that of the mainnet, and revenue is hundreds of times that of the mainnet. They pay that little DA fee to the mainnet, which accounts for less than 5% of their total revenue.
In the past, Ethereum raised a son, but now the son is eating meat while the father is left sniffing around.
**Have you ever seen a father so helpless?**
**All the builders have run away.**
In 2021, six out of ten projects chose Ethereum; now there are fewer than three. Base, Solana, Sui, Berachain—builders are not foolish; they know where the users are, where money can be made, and where popularity lies; they are clearer than you.
**The community is already half dead.**
In the past, upgrades were FOMO three months in advance, with the whole network brushing EIP. Now Pectra? Do you remember what Pectra is?
It's not that the technology is lacking; it's that everyone is really too lazy to talk about it.
An asset has stood on the stage for eight years; everyone respects it, but no one wants to spend money on it anymore.
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**What are you waiting for if you’re not shorting now?**
Waiting for the market cap ratio to drop to single digits?
Waiting for Solana's market cap to step on it?
Waiting for that guy you went all in on in 2021 to finally cut losses at the break-even line?
**The line has been drawn for half a year.**
**The goods are still not sold out.**
**If you don’t get on board now, this wave of main decline has nothing to do with you anymore.**
**Set your short orders; don’t wait until it breaks and then ask in the comments:**
**“Can I still chase it?”**
#ETH #ShortEthereum #L2Bleeding #NarrativeDeath
#BuildersRanAway #CommunityIsCold