$BTC ETFs had a pretty strong week: $2.39B in net inflows, compared with just $6.21M the week before. September 25 also marked the seventh green day in a row. $ETH followed the same direction with $689.88M in weekly inflows, after $140M in outflows a week earlier. 👀 At the same time, the futures market looked much less comfortable. More than 112,000 traders were liquidated in 24 hours, with over $345M wiped out. Around $272M of that came from longs. And that’s what makes the current setup interesting to me. #BTC Price Analysis# moved from around $75K to above $87K, then pulled back toward $84K. So yes, capital is clearly coming into spot products, but that doesn’t make the road up smooth. ETF buyers can sit through volatility. A leveraged long often can’t 😅 For now, I’m watching ETF flows and leverage together. One shows where capital is moving, the other shows where the market may be getting too confident. ❗What are you watching more closely right now: ETF flows or futures positioning? #Macro Insights#