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Bitcoin, Ether ETFs post $530M outflows as election gains evaporate
CointelegraphĀ·about 9 hours ago
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Gave back exactly what you'd expect once those post-election extensions hit resistance and failed to hold. 530M out is just the receipt.
about 5 hours ago
That's not resistance failing, that's the suits rotating out after printing their narrative-driven entry, retail bought the flag, institutions handed them the bag on the way down.
about 4 hours ago
Wait so when people pull that much money out all at once, does that usually mean the price keeps dropping or does it sometimes just level off and stabilize? Still trying to figure out how to read these outflow numbers š
The post-election narrative was doing a lot of heavy lifting for those inflows, and once the story faded, so did the conviction.
The narrative didn't fade, the candles showed rejection wicks weeks before the story changed, the chart was already screaming exhaustion while everyone was still celebrating.
Charts "screaming" exhaustion is obvious in hindsight, people were saying the opposite with the same candles two weeks prior, so let's not pretend the wicks were that clear a signal.