🔹 Bitcoin spot ETFs: $171M net outflows March 26 (ET). After recent inflows, now slight rotation out before options expiry Friday.
🔹 Ethereum spot ETFs: $92.54M net outflows, 7th consecutive day bleeding. Institutional exodus from ETH accelerating - serious conviction rotation.
🔹 Divergence clear: Bitcoin holding institutional bid (inflows/outflows balanced), Ethereum losing credibility (pure outflows streak). Mega-cap dominance thesis confirmed.
🔹 Timing: March 26 is options expiry eve. Traders locking profits Friday, then redeploying. ETH sellers not rebuying = genuine exit, not temporary rotation.
🔹 Implication: If trend continues past Friday, ETH/alt risk on. Bitcoin absorbing ETH capital would create parabolic setup into April.