BTC has returned above 80k, and a net outflow of more than 300 million in a single day on Farside is a top signal.

Farside's chart is very straightforward: 5/1 total net flow +629.8 million, 5/4 +532.3 million, 5/5 another +467.3 million, the US stock market has squeezed "spot buying" into a structural supply contraction. Market movements to this point, discussing whether "whales are whales" is less meaningful; the key is that the rhythm of these funds entering and exiting is different from native crypto funds—slow, concentrated, biased towards IBIT/FBTC, usually not expressing emotion through chasing highs and lows, but more like pulling coins out of circulation.
What’s more worth watching is the linkage: ETH on 5/1 +101.2 million, 5/4 +61.3 million, 5/5 +97.5 million, funds are not rotating out of BTC but are using the same risk budget to add to the same line.
The so-called "Altcoin Season" narrative can appear superficial in this flow context: first look at how much the main asset supply is locked, then see how beta overflows. But don’t treat net inflows as blindly bullish.
The strength of ETF inflows and price momentum can sometimes be misaligned: rising too fast, futures basis being elevated, spot depth thinning, and a few days of outflows can extinguish enthusiasm. Especially during pre-market/post-market and weekend periods with thin liquidity, prices are easily driven by perpetual leverage sentiment, and when US stocks open, AP hedging and spot replenishment start to "recover" the volatility.
In trading, only verifiable failure conditions are recognized: if on Farside there is a net outflow of more than 300 million in a single day, and it cannot be repaired for two consecutive days, the 80k level will turn from support into resistance; conversely, as long as inflows continue to be "relatively large and concentrated," the real risk is being washed out by volatility chasing high positions. The market is not about bullish or bearish slogans, but about whether funds have stopped—on the day they stop, the candlestick will be very honest.