Remember narrative follows price, price does not follow narrative.
Last week the narrative on CT was:
"A hacked exchange has to buy ETH, so price will go up a lot"
Now as the price drops after the impulsive 2-week rally we saw after prior capitulations, people are in search of a new narrative.
If you are searching for a narrative to explain something, then the price action for the narrative you find likely already happened.
"Alpha" comes from believing in narratives before they are the consensus view.
A lot of narratives out there trying to explain the recent bounce by
#ETH.
Notice that in prior capitulation wicks (that all happen to occur shortly after the BOJ raised rates), there was a 1-2 week rally, followed by another drop and consolidation period.