$BTC is pretty much in line with what I thought last week: a modest rebound would fuel the urge to chase prices higher, followed by another pullback this week. For now, after that sharp dip, we’ll see whether it can close back above this level. If it can’t, we’ll see whether the previous low can hold. For a mid-term position, taking profit around the 75 level I mentioned earlier would have worked out pretty well.

Also, the ETFs each saw small outflows yesterday, but thankfully they weren’t substantial. We’ll see how buying demand develops from here. If outflows continue and retail buying fails to pick up, things could get risky.