I thought it was interesting that you said the BTN should be flatting his entire range here. This is certainly something I do when in this spot but probably not with my entire range. My thinking for raising if I had like KT on the button would be that 1.) the fact that the CO has now bet twice on this board indicates a pretty strong range. 2.) the board contains a lot of draws in which the donk in the hand would not be incorrect in calling behind now. Is this sort of thinking flawed here?
Also do you fold QJ here on the turn if you get raised by the BTN? If so would this be a case for bluff raising the turn if your the BTN with marginal/draw hands or do you just flat your entire range regardless.?
I can see how the thought process of flatting the river with your entire range might be correct if the fish is going to do stuff with like min raise w/ a flush here but the EV of like making it 5500 to go with AA or AJ on the BTN I would expect to be close if you expect to be called by smaller boats and maybe some flushes that the CO has. IDK if you think the only hand CO/HJ will call you with is QJ+ or maybe even fold QJ seems like a pretty sexy bluff raise spot although I suppose AA/AJ could also be in both HJ/CO range as well. hmm need to do some math.