Last night I was still saying my money bag had gone flat, and this morning Glassnode slapped the ledger right in my face: stablecoins led by $USDT shrank by $14.2 billion in 30 days, the fastest decline since June 2022. In plain English, that means the money in the room isn’t sitting still; it’s flowing out.
Look at U.S. stocks next door: the Nasdaq +1.6%, CoreWeave’s earnings revenue surged 168%, and the stock jumped +10% straight away, while over on the AI side they were already popping champagne. Look back at $BTC , still hanging around 73,600, with ETFs seeing another $95 million outflow on Tuesday, four straight days of outflows, and IBIT itself posting eight consecutive outflow days. Same market, same day: one side is opening champagne while the other is counting wounds. That picture has a bit of dark humor to it.
Glassnode also added another blow: Bitcoin is now stuck below the short-term holder cost basis of 75,600, and everyone who bought in over the past six months is sitting on unrealized losses. There’s an old rule for ETF money: if it wants to come back, Bitcoin has to first carve out a proper bottom.
So don’t ask why Bitcoin isn’t rising with U.S. stocks. The answer is that stocks are rising on AI money, while crypto is bleeding its own blood. Personal opinion, for reference only.
#CoreWeaveJumps10%On168%RevenueGrowth #BTC #CryptoNews
Tomorrow PPI gets revealed—will $BTC first get back above 75,600, or first test 72,700? Pick a side in the comments.
Look at U.S. stocks next door: the Nasdaq +1.6%, CoreWeave’s earnings revenue surged 168%, and the stock jumped +10% straight away, while over on the AI side they were already popping champagne. Look back at $BTC , still hanging around 73,600, with ETFs seeing another $95 million outflow on Tuesday, four straight days of outflows, and IBIT itself posting eight consecutive outflow days. Same market, same day: one side is opening champagne while the other is counting wounds. That picture has a bit of dark humor to it.
Glassnode also added another blow: Bitcoin is now stuck below the short-term holder cost basis of 75,600, and everyone who bought in over the past six months is sitting on unrealized losses. There’s an old rule for ETF money: if it wants to come back, Bitcoin has to first carve out a proper bottom.
So don’t ask why Bitcoin isn’t rising with U.S. stocks. The answer is that stocks are rising on AI money, while crypto is bleeding its own blood. Personal opinion, for reference only.
#CoreWeaveJumps10%On168%RevenueGrowth #BTC #CryptoNews
Tomorrow PPI gets revealed—will $BTC first get back above 75,600, or first test 72,700? Pick a side in the comments.
