Bitcoin ETFs saw $606M inflows Thursday, but don't be fooled.
BlackRock's IBIT accounted for $502M, 83% of the net bid. That's up from 55% Wednesday. VanEck's HODL posted an outflow.
This isn't a wave of new buyers. It's one whale. Narrow market support is brittle. These inflows only pin the price between moving averages, revealing passive selling pressure. This rally is fragile until buying broadens.
Price chops under the 20-day EMA. A clean break and hold above 77,254 is the first sign this isn't just one firm's rebalancing.
$BTC
BlackRock's IBIT accounted for $502M, 83% of the net bid. That's up from 55% Wednesday. VanEck's HODL posted an outflow.
This isn't a wave of new buyers. It's one whale. Narrow market support is brittle. These inflows only pin the price between moving averages, revealing passive selling pressure. This rally is fragile until buying broadens.
Price chops under the 20-day EMA. A clean break and hold above 77,254 is the first sign this isn't just one firm's rebalancing.
$BTC
