After 7 consecutive days of net outflows from Bitcoin ETFs, they finally turned positive today. This round looks less like demand is gone and more like the market is still tearing through the old “GBTC file”—page by page. What the bulls most want to prove isn’t that price is rising, but this: look, I’m not unwanted—I’m just dealing with an ex who can dump too much.

BTC-1.06%
GBTC-1.11%
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