Spot $BTC ETFs: -$484.9M in one day
Oct 7 flipped the script. After +$118.8M on Oct 6, spot BTC ETFs printed -$484.9M, the largest outflow in the last 13 sessions. The largest fund alone swung from +$122.0M to -$207.7M, and three other funds added -$105.1M, -$101.7M and -$27.6M.
Context matters though. Before this day there were only 2 outflow days in 12 sessions, and every session from Sep 21 to Sep 25 printed inflows. One red day is a data point, not a trend.
Same window: BTC around $82.6K, with $409M liquidated in 24h and about 87% of it longs.
Flows and leverage unwinding together is what a flush looks like. A shift would need red prints to stack up.
What I'm watching?
Does the next flow print stay red, or does it fade back toward inflows? That one data point changes the probability, not the thesis.
Don't size up on a single print. Verify first. Risk later. Scale slowly.
$BTC #BitcoinETF #Bitcoin
Oct 7 flipped the script. After +$118.8M on Oct 6, spot BTC ETFs printed -$484.9M, the largest outflow in the last 13 sessions. The largest fund alone swung from +$122.0M to -$207.7M, and three other funds added -$105.1M, -$101.7M and -$27.6M.
Context matters though. Before this day there were only 2 outflow days in 12 sessions, and every session from Sep 21 to Sep 25 printed inflows. One red day is a data point, not a trend.
Same window: BTC around $82.6K, with $409M liquidated in 24h and about 87% of it longs.
Flows and leverage unwinding together is what a flush looks like. A shift would need red prints to stack up.
What I'm watching?
Does the next flow print stay red, or does it fade back toward inflows? That one data point changes the probability, not the thesis.
Don't size up on a single print. Verify first. Risk later. Scale slowly.
$BTC #BitcoinETF #Bitcoin