risk appetite is underpricing desk risk limits

Discipline is cheapest before volatility arrives.

For operators, process beats prediction when the tape is noisy.

That debate sits next to today’s market focus around “ETH/BTC Ratio Nears 0.03 as Ethereum Gains on Bitcoin.”

Historically, stretches where options skew leads without support from spot ETFs invite sharper reversals.

Useful frameworks survive longer than seasonal slogans.

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