Monday: S&P +2.35%, Nasdaq +2.74% — best single day since April.

$BTC? Still grinding under $75k. Didn't catch the bid.

BlackRock IBIT: 7 straight days of outflows, ~$1.66B total. Meanwhile Morgan Stanley's $BTC ETF saw inflows same day.

Money rotating between products or real exit? Zoom out: Total spot ETF outflows Monday = ~$201M.

Risk-on came back. Crypto didn't get the memo this time.