The same institutions are selling on one side and buying on the other.
U.S. spot $BTC ETFs saw net outflows of $399 million on Monday, marking a second straight day of outflows. BlackRock’s IBIT alone saw $405 million flow out, its biggest outflow since June.
On the other side, Strategy spent $65.5 million last week, from October 26 to November 1, to buy 811 coins at an average price of $80,846—about 4.7% above Bitcoin’s current spot price of $77,058 on Binance.
At the same time, after trading resumed on Binance, customers withdrew a net $4.72 billion, up from $3.64 billion on Sunday.
ETF money is selling, while a publicly traded company is buying. So who’s getting it wrong first?
The next thing to watch: will ETF outflows continue for a third day, or will the price first climb back above Strategy’s purchase price? This is not investment advice.
U.S. spot $BTC ETFs saw net outflows of $399 million on Monday, marking a second straight day of outflows. BlackRock’s IBIT alone saw $405 million flow out, its biggest outflow since June.
On the other side, Strategy spent $65.5 million last week, from October 26 to November 1, to buy 811 coins at an average price of $80,846—about 4.7% above Bitcoin’s current spot price of $77,058 on Binance.
At the same time, after trading resumed on Binance, customers withdrew a net $4.72 billion, up from $3.64 billion on Sunday.
ETF money is selling, while a publicly traded company is buying. So who’s getting it wrong first?
The next thing to watch: will ETF outflows continue for a third day, or will the price first climb back above Strategy’s purchase price? This is not investment advice.
