btc etf flow turned negative today. $84.9M net outflow, snapping the inflow streak. just one day of red, but it stings after a five day run that pulled in $129.4M. total aum sits at $75.3B with $51.3B cumulative net inflow since launch. daily value traded was $1.5B, so the outflow wasn't a panic, just a slow bleed.
for this to be more than noise, we'd need to see three consecutive days of outflows exceeding $100M each. that would signal a genuine sentiment shift rather than a single session of profit taking. until then, the five day total still leans positive and the cumulative stack remains enormous.
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Originally published on FalsifyLab Substack.