Just took a look at the midday news: since July, Bitcoin spot ETF net inflows have been as wild as a roller coaster—near the start of the month there was a net outflow of nearly $300 million, then it turned positive in mid-month. On the 21st it surged to $226.8 million, but yesterday it fell back to $69.10 million. In contrast, for Ethereum spot ETFs, yesterday saw a net inflow of $72.70 million, overtaking BTC—and BlackRock had $53.50 million+ Fidelity $19.20 million, while everything else was zero.

This signal is too obvious—capital from traditional asset-management giants is shifting from BTC ETFs toward ETH ETFs.

The BTC/USDT perpetual contract is currently priced at 66,135. Intraday, short-term price broke 66,000 and just made a one-month high, then started trading sideways at high levels. On the 4-hour timeframe, after BTC retreated from a local high around 66,300 back to 65,200, it rebounded to 66,100, and it’s still operating within the high-price range. The short-term long structure hasn’t been broken. But the RSI is near 68; it hasn’t entered overbought yet, and smaller timeframes still have upside momentum.

After 9 years as an old bagholder, I’ll say it straight—retail money in the BTC ETF is temporarily saturated, and institutions are starting to shift their focus to ETH. This doesn’t necessarily mean BTC is going to drop, but it does indicate that incremental capital is being diverted. Chasing higher above 66,000 has extremely poor risk-reward. Wait for a pullback and for the 65,000–65,200 area to stabilize first. The strength on the ETH side may attract more capital, making it more likely that BTC will continue consolidating at high levels in the short term.

The direction hasn’t changed—just slow down the pace. Don’t chase. $BTC ‌