Bitcoin ETF Demand and Derivatives Traders Are Pulling in Opposite Directions $BTC spot ETFs added $190.65M on Thursday, extending their inflow streak to six consecutive sessions. Across those six days, total inflows reached about $2.84B, with BlackRock’s IBIT contributing $162.63M in the latest session. The cash market is therefore sending a clear signal: institutional ETF demand has returned. But derivatives traders are not confirming that optimism. ETF SIDE: 6 straight inflow days $190.65M latest inflow $108.92B in net BTC ETF assets DERIVATIVES SIDE: BTC open interest back near May levels $3B+ BTC OI on Hyperliquid alone Negative basis while OI rises That last combination matters. A negative basis alongside increasing open interest suggests new short positioning is being added rather than traders simply closing longs. So Bitcoin is currently caught between two different forms of conviction: ETFs are steadily accumulating exposure, while parts of the leveraged market are betting the rally will fade. The next move will show which side can absorb the other’s pressure first. #BTC Price Analysis# #Bitcoin #Bitcoin Price Prediction: What is Bitcoins next move?#