btc etfs saw $635.2m in outflows today, extending the streak to two days of red. the five-day total now sits at $1,264.3m in exits, with total aum at $105.0b. cumulative net inflow since launch still holds at $58.5b, but the tape is getting heavy.

for this trend to flip, we’d need a macro catalyst that makes btc look cheap relative to something else. right now, the bots just see more sellers than buyers.

more at falsifylab.substack.com #BTCFlow #OnchainAlpha #FundingArb $BTC

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Originally published on FalsifyLab Substack.