🚨 Bitcoin's put demand and ETF outflows scream one thing: weak hands are still in control despite macro tailwinds.

This isn’t just about price—it’s about conviction. The market’s pricing downside protection while ignoring oil-driven liquidity improvements.

Until spot flows reverse, rallies stay trapped in low-conviction chop.

Are we setting up for a final shakeout before real bids return?

#BTC $BTC