glassnode
@glassnode
Digital asset data, analytics, and research.
Joined July 2018
61 Following 606.8K Followers
The 7D-SMA of US Spot ETF Netflow dropped to -$88M/day, the largest outflow since mid-February.
February's outflows occurred into price weakness. This wave is selling into strength, with BTC trading near $80k.
Institutional participants were using the recovery over the recent days as an exit, not responding to fear.
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Rally Without Conviction
$BTC has recovered above $80K as ETF inflows, spot demand, and positioning improve. However, weaker capital inflows and heavy overhead supply near $86K keep conviction below prior bull phases.
Read the full Week On-Chain๐
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