𝗔 𝗠𝗮𝗿𝗸𝗲𝘁 𝗼𝗳 𝗖𝗼𝗻𝘁𝗿𝗮𝗱𝗶𝗰𝘁𝗶𝗼𝗻𝘀 US spot Bitcoin ETFs showed an outflow for the first time in 9 trading days: -$263 million. This happened against the backdrop of BTC's failure to consolidate above $80K and a drop below $77K. 𝑾𝒉𝒂𝒕 𝒕𝒉𝒆 𝒇𝒂𝒄𝒕𝒔 𝒔𝒉𝒐𝒘 — ETFs: -$263 million per day (the first minus since mid-April) — Prior to April 13, there were about +$2.1 billion in inflows, and BTC rose by approximately ~10% during this period — The sentiment index managed to move to "neutral" for a day, but then returned to "fear" after the pullback 𝑾𝒉𝒐 𝒑𝒓𝒐𝒗𝒊𝒅𝒆𝒅 𝒕𝒉𝒆 𝒎𝒂𝒊𝒏 𝒎𝒊𝒏𝒖𝒔 — FBTC (Fidelity): -$150 million — GBTC (Grayscale): ~- $47 million — ARKB: ~- $43 million — IBIT and MSBT were almost unchanged on this day 𝑵𝒐𝒕 𝒋𝒖𝒔𝒕 𝑩𝑻𝑪 — ETH ETFs also went into the red: -$50.5 million — XRP and Solana funds showed zero An important point about demand is that even with this minus, the overall picture for April looks strong: — Strategy bought about 56,235 BTC in April — ETFs added another 34,552 BTC — And miners mined approximately 11,829 BTC That is, the demand from major players is still significantly higher than the "new supply". 𝑾𝒉𝒚 𝒕𝒉𝒆 𝒑𝒓𝒊𝒄𝒆 𝒅𝒓𝒐𝒑𝒑𝒆𝒅 CryptoQuant explains the movement as a typical story: it's more like liquidation of leveraged long positions than "everyone suddenly decided to sell". And yes, the failure to rise above $80K means that there are many sellers in this zone. 𝑪𝒐𝒏𝒄𝒍𝒖𝒔𝒊𝒐𝒏 One day of outflows does not break the trend, but it's a good signal that the market has overheated and $80K is not letting it pass yet. Now it's important to watch how BTC behaves below $77K and whether demand in ETFs will return in the coming days. $BTC $ETH $OKB #OKXOrbitTopics #DailyOrbit #CreatorRewards