The withdrawal is more bullish and good for ETH price than bearish even in the short run. People that I've seen that are the most bearish are the ones that don't actually have any arguments to back up their bearishness. It's like, OK, but why is that going to happen? Oh, you know, because of this. And then they don't really have any reasons, right? So that's why I try to reason about it from these first principles rather than coming to a conclusion first and then working my way back.

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