Last week a screenshot of BlackRock's crypto line item, up 63%, got passed around like it was a fresh buy signal.
That is the trade that usually hurts. You size in because a big name printed a big number, then you are stuck deciding whether to hold through the outflow that shows up a week later.
The 63% is easy to misread. A rise in reported assets can just be $BTC and $ETH marked higher on coins that were already held, which says nothing about new demand showing up. Fear and Greed at 52, plain neutral, lines up with a market that is not actually leaning in.
Set that next to the flow data and the picture changes. Spot products have been shedding, not filling, so the asset figure and the creations are telling different stories. When the search interest keeps circling back to $USDT, people are looking for a place to park, not a place to add.
What's your read on the gap between the asset jump and the outflows?
#BlackRockCryptoAssetsJump63 #SpotBitcoinETFsShed #BitcoinAndEtherETFsShed
That is the trade that usually hurts. You size in because a big name printed a big number, then you are stuck deciding whether to hold through the outflow that shows up a week later.
The 63% is easy to misread. A rise in reported assets can just be $BTC and $ETH marked higher on coins that were already held, which says nothing about new demand showing up. Fear and Greed at 52, plain neutral, lines up with a market that is not actually leaning in.
Set that next to the flow data and the picture changes. Spot products have been shedding, not filling, so the asset figure and the creations are telling different stories. When the search interest keeps circling back to $USDT, people are looking for a place to park, not a place to add.
What's your read on the gap between the asset jump and the outflows?
#BlackRockCryptoAssetsJump63 #SpotBitcoinETFsShed #BitcoinAndEtherETFsShed