What Happened to the GBTC Market?

i'm also curious if you have any insight or interpretation of what happened with the whole gbtc trade because that was partly what drove the three-hour capital they were making all this money on that gbtc arbitrage and then what happened is that premium flipped it then turned um negative uh. i wonder whether that was also part of this cycle the come down right that was part of the collapse or the popping of that let's say crypto defi bubbleYeah i think the thing that like the way i understand it to have worked was just a lot of leveraged stuff happening outside of defi  like there's a lot of nonsense that was happening inside of defi and a lot