ETF money is flowing out, and leveraged positions are the first to go
Spot Bitcoin ETFs saw net outflows of $1.5 billion last week, with a $BTC 24-hour drop of 5.33% to 65,298. UNI and NEAR plunged 17.21% and 15.42%, respectively. It wasn’t one coin running into trouble—buyers pulled back across the board.
Leveraged long positions were the first to get wiped out, with longs liquidated en masse. Altcoin holders took an even harder hit: SOL fell 11.01%, and institutions and retail investors both got burned this time.
What’s worth noting is how this sell-off happened: inflation and rate-hike expectations pushed up the dollar and Treasury yields, while institutional buying through ETFs was also ebbing. That left a market propped up by leverage, ready to crumble at the slightest impact. It wasn’t faith that fell—it was the market’s funding structure.
$BTC
$ETH
Spot Bitcoin ETFs saw net outflows of $1.5 billion last week, with a $BTC 24-hour drop of 5.33% to 65,298. UNI and NEAR plunged 17.21% and 15.42%, respectively. It wasn’t one coin running into trouble—buyers pulled back across the board.
Leveraged long positions were the first to get wiped out, with longs liquidated en masse. Altcoin holders took an even harder hit: SOL fell 11.01%, and institutions and retail investors both got burned this time.
What’s worth noting is how this sell-off happened: inflation and rate-hike expectations pushed up the dollar and Treasury yields, while institutional buying through ETFs was also ebbing. That left a market propped up by leverage, ready to crumble at the slightest impact. It wasn’t faith that fell—it was the market’s funding structure.
$BTC
$ETH