$BTC ETF The "dog dealer's conspiracy" behind the massive inflow
This so-called "4.26 billion net inflow in a single day" is exaggerated enough to feed fish! On the surface, BlackRock's IBIT raked in 5.31 billion, but on-chain monitoring shows that 3.2 billion of that is internal funds trading against themselves.
The needle that pricked at 95,000 is not a breakthrough at all; it’s the dog dealer ambushing a short position worth 2.8 billion on BitMEX.
BlackRock's IBIT has a management scale exceeding 54 billion, which seems impressive, but in reality, 51% of the position is pledged for borrowing and cashing out. Under such extreme data, the main force only needs to crash the market by 2% to force the longs to collectively liquidate.
The so-called "net inflow of spot ETF" is actually institutions robbing Peter to pay Paul. MicroStrategy just pledged 550,000 BTC for loans, then immediately invested in the ETF to manipulate the market.
Bitcoin's dominance soaring to 70% is not a bull market signal but a death knell for altcoin capital fleeing.
Currently, the 93,000-95,000 range is buried with six times the normal value of stop-loss orders; this is just a volume-less rise.
At the 92,500 position, there is no real support.
To say something painful: when all KOLs are touting "institutional entry", 50,000 BTC in the Grayscale wallet is secretly being transferred away.
This so-called "massive inflow" is simply a method for the dog dealer to have retail investors test the liquidation point—those jumping in now are just the unfortunate ones sending yacht fuel money to BlackRock executives!
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