Scalpel Frame and Water Bottles

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At the WE I traded my Kona Kula Delux in for a Scalpel 2000, a bike I've wanted ever since I rode a friends. Anyway, the only issue is that you cannot fit a large bottle into the vertical bottle holder.

It looks to me like this holder can move down towards the bottom bracket and hence a large bottle may fit.

Does anyone have any experience with this?

Cheers

Ssushi