The prosperity of Bitcoin’s second-layer network is the cornerstone of the pie’s priceSTX and Merlin Network, as well as other second-tier companies such as Lightning Network, etc., it is difficult to say who will be the final winner.However, they play a similar role. They both allow the big pie to be deposited into the network, forming a price base and reducing selling pressure.The value reserve function of ETFs and the second-tier network complement each other. It can be estimated that the pie will reach 100,000 or 200,000 in the next few years, and it will be smooth sailing.The problem with the big pie is that option volatility is relatively low, and retail investors are net buying.This state is dangerous, and we must be prepared for a sudden black swan event that causes the pin to collapse. Therefore, contract reduction is necessary.Spot hedging has no impact.For daily hedging strategy, it is recommended that the strike price of covered.call be set at 65,000.Gather the wool every day and wait for it to brew strength and break through the center.