Bitcoin fell from 87K to 83K, but there were no selloffs from the ETFs. 👀 Yesterday: 🟢 $BTC ETF → +$346.9M 🟢 $ETH ETF → +$104.5M Bitcoin ETFs have been positive for 5 trading days, and during this period they saw approximately $2.65 billion in inflows. So why is BTC falling? The answer is the bond market. (10Y yield 5.1%+ | Treasury volatility +21) But here’s an interesting data point: the 1-year correlation between BTC and 10Y yields is only -0.03. That means that over the long run, Bitcoin is affected more by sudden shocks in interest rates than by high interest rates themselves. Also, today there are two major developments: 🇺🇸🇨🇳 Trump–Xi talks start today. And the U.S. administration is evaluating a plan to expand the use of dollar stablecoins globally. My expectation for daily direction: NEUTRAL-NEGATIVE. The ETF buyer is still there. Now the question is whether it can absorb the macro pressure. Not investment advice.