Net inflows into US spot Bitcoin ETFs have been positive for 9 consecutive trading days. On September 29, the single-day net inflow was $66 million. BlackRock’s IBIT alone contributed $51.09 million, while ARK 21Shares followed with $33.2 million. Over the 9 trading days, the cumulative total is about $3.1 billion, slightly above the $3.04 billion round from the previous streak of 9 consecutive green days in August.

But what’s more worth watching is the slope: on September 21, the single-day amount was $999 million, but by the 29th it had dropped to just $66 million. Trading volume has also shrunk to $1.6 billion. This isn’t capital retreat—it’s a shift from aggressive buying to slow, steady accumulation.

My view is very clear: the number of days of continuous inflows and the cumulative amount are lagging indicators. Whether this ETF “leg” can continue to prop up $BTC depends on whether the marginal speed of inflows will keep declining. The previous record of 13 consecutive days of positive flows happened in June 2025—back then market sentiment was completely different from today.

So I want to ask you: if you’re adding to your position now, would you treat an “ETF consecutive inflow interruption” as a sell/trim signal?