SPX and BTC are trading like the same asset again

• Trimming BTC into strength on green SPX days, not red ones. The last 1% of the move is the weakest.
• Keeping the index hedge (SPY puts, June expiry) sized off total risk-on exposure, not just the equity book.
• Not buying the "decoupling" narrative until 30-day correlation drops below 0.4 and stays there for two weeks.

Either you want this exposure or you don't. Both answers are fine. The wrong answer is pretending you're hedged when you're stacked.