BTC ETF recorded a single-day net outflow of $470 million—this selling pressure is pretty brutal. But with $3.7 billion in trading volume, the bids are still there, and the long-versus-short tug-of-war is getting intense. Over on ETH, only $30 million flowed out, relatively calm. Meanwhile, SOL and HYPE were effectively wiped to zero—looks like the road for shanzhai (copycat/imitative) ETFs still has a long way to go. In the short term, funds are being drained from the “big brother.” Whether this is profit-taking or rotating into other plays, it’s worth watching next week’s consecutive data closely.