ETF flows still bleeding

$BTC ETFs dumped another $296M yesterday — roughly 5,050 $BTC out the door in 24hrs

BlackRock leading the exit, Grayscale/Fidelity/ARK all seeing redemptions

Yesterday's bounce had everyone feeling bullish again. Reality check: institutional money is still rotating OUT

Funding rates shifting, sentiment fragile, structure hasn't flipped

Until these outflows slow down or reverse, I'm staying cautious on leverage and size

Don't fight the tide when the smart money is exiting