$BTC
Market-wide liquidations alone wiped out around $1 billion on Thursday. Even though BTC bounced along with the broader market from $80,000 to around $82,500, don’t get carried away just yet. According to data from @lookonchain, BTC spot ETFs still saw net outflows of about 3,412 BTC over the past day. Outflows in this battered market don’t mean the bottom is in. The rebound looks pretty strong, but coins are still flowing out—don’t mistake a temporary bounce for a reversal.
$BTC
Market-wide liquidations alone wiped out around $1 billion on Thursday. Even though BTC bounced along with the broader market from $80,000 to around $82,500, don’t get carried away just yet. According to data from @lookonchain, BTC spot ETFs still saw net outflows of about 3,412 BTC over the past day. Outflows in this battered market don’t mean the bottom is in. The rebound looks pretty strong, but coins are still flowing out—don’t mistake a temporary bounce for a reversal.
$BTC