Waiting a couple of extra days for the cap to drop is not quite the same technique as extended maceration, which may extend skin contact for up to 3 weeks (and requires special equipment to reduce the risk of oxidation). It merely gives your wine a few more days of skin contact before pressing. I often run hot ferments, where the temperature peaks at around 32C. This means that alcoholic fermentation can sometimes be complete in 3 or 4 days, which isn't enough time to extract everything the skins have to offer. If the fruit is ripe and the seeds are fully mature, you won't extract much in the way harsh tannins. However, this is why I caution making sure the fruit is ripe. Green/tan seeds can make for a rough wine that will take many years to reach drinkability.
As you mention, cold soaks are also a good way to extract water soluble phenols and tannins before fermentation begins, however, I've read some studies that question the effectiveness of the technique. A lot of this early color is lost, unless you use color fixing additives.
When the cap "sinks", it doesn't all go to the bottom at once. As fermentation winds down and carbon dioxide is no longer being made, there is not as much to keep the cap buoyant, but there is still enough to keep the cap somewhat afloat and protect the wine from oxidation for a couple of days. As a safeguard, you can also lay cellophane cling wrap on the surface to help retain some of the CO2.
As you mention, cold soaks are also a good way to extract water soluble phenols and tannins before fermentation begins, however, I've read some studies that question the effectiveness of the technique. A lot of this early color is lost, unless you use color fixing additives.
When the cap "sinks", it doesn't all go to the bottom at once. As fermentation winds down and carbon dioxide is no longer being made, there is not as much to keep the cap buoyant, but there is still enough to keep the cap somewhat afloat and protect the wine from oxidation for a couple of days. As a safeguard, you can also lay cellophane cling wrap on the surface to help retain some of the CO2.
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