最新报道：According to Bijie.com, on August 1 (UTC+8), Smart Money and crypto influencer 0xsun.sol (@0xSunNFT) posted on social media that the market is currently diverging sharply between bulls and bears. He stated that he has opened a hedging trade (long ETH and short a basket of altcoins) with a roughly 1:1 position. The logic behind the long ETH position is that ETH was the primary driver of the late June rally, and institutions, following MicroStrategy's lead, are purchasing ETH through coin-to-equity financing. Within the stablecoin narrative, ETH is also a core infrastructure and settlement layer. Considering MicroStrategy's previous purchase of BTC, which drove prices higher, the gains of most altcoins ultimately lagged far behind those of Bitcoin. The funds used by coin-to-equity and institutions to purchase ETH are unlikely to spill over into other altcoins. According to CMC data, only 20 of the top 200 tokens have seen gains greater than ETH over the past 30 days, including BONK, ZORA, CFX, and ENA, all clearly driven by positive events. Altcoins should follow the same logic as previous short-selling strategies, prioritizing those with relatively high market capitalizations, non-leading stocks, weak performance, and low visibility. Shorting should be diversified, with stop-loss orders in place to prevent a single asset from experiencing a sudden surge. 0xsun added that if the bull market continues in the second half of the year, ETH will likely continue to drive the market. If the market enters a bear market, altcoins are unlikely to remain immune, and ETH at least has institutional buying power to support it. This hedging strategy could fail if either the altcoin season truly arrives, with most altcoins consistently outperforming ETH, or if ETH fluctuates or leads the decline, while other altcoins experience minimal losses. Based on recent experience, I personally believe this scenario is unlikely. (Source: BlockBeats)