Bitcoin ETFs just posted a $46.8M net outflow. That’s a pretty big change from the strong inflows we’ve seen recently. But I’m not reading this as a bearish reversal just yet. The bigger picture still shows: • $52.45B in cumulative net inflows • 651.51K $BTC of cumulative net inflows • $79.09B in total ETF AUM So institutional demand is still very real. The question now is whether this latest outflow is just a short-term pause or the start of a sustained shift in ETF demand. If inflows return while BTC holds support, I’d view that as a strong signal. If outflows continue and BTC starts losing key levels, I’d become more cautious. Watching this closely. $COTI