As election-driven volatility looms, our outlook for Bitcoin remains pessimistic, with concerns over low implied volatility and a lackluster halving rally. Ethereum’s significant outflows and price decline since the ETF approval signal bearish momentum, leading us to recommend shorting the Ethereum/Bitcoin exchange rate. While Solana shows signs of peaking, there’s interest in alternative ecosystems like Polygon. We believe that focusing on cryptocurrencies with real utility is essential, advising the exit from meme coins.