Yesterday mentioned the ETF data weakness
As expected, today the Bitcoin ETF experienced a "massive" outflow
Yesterday, Bitcoin had a net outflow of 800 million dollars, which should rank in the top three outflows based on historical processes
Although the data looks grim, if you look at the data yourself, you can still find some clues
If we only look at BlackRock, yesterday they only had an outflow of 2.6 million, while the rest were mainly large outflows from other ETFs
It is well known that the driving force behind most ETFs in this bull market actually comes from BlackRock ETFs, followed by Fidelity
Looking at historical inflows and outflows, aside from BlackRock, other ETFs are basically large retail investors, as I have mentioned multiple times before, they are essentially chasing highs and selling lows
As long as there is one large bullish candle, they will frantically buy back, so the most important thing for ETFs is still to look at the outflow situation of BlackRock to make a judgment
