Bitcoin’s 25% drop is a good reminder that price alone doesn’t tell the full story. According to Glassnode, $BTC fell from around $83K to $60K as investors rotated capital into US equities and AI related assets. The bigger signal was ETF flows. US spot Bitcoin ETFs recorded 13 consecutive sessions of outflows in May, totaling around $4.4B. BlackRock’s IBIT alone saw about $3.3B leave the fund. Meanwhile, the S&P 500, Nasdaq and Dow continued climbing. What can we learn? Bitcoin can still struggle even when traditional markets are strong. Capital moves toward where investors see the best opportunity or lower risk. So before judging a market move, watch both price AND capital flows. That often tells a much bigger story.