$BTC The past month, Bitcoin Spot ETFs have taken in over $5B in net inflows. Saylor bought about $2.2B and other companies like $GME have bought at least another 2B+. Likely contributing to a $10B+ net inflow from ETFs and companies. Meanwhile, price is still at the same level it was at 1 month ago. If the inflows keep going then that's good as eventually you'll chew through the supply. But if those were to stop or turn around, that could become a problem as we have seen the same thing every time since the ETFs are live. Big inflows + No price progression = Eventually leads to a local top being created. Long term I would say that every billion bought by ETFs and Saylor is another billion away from willing sellers and that is definitely bullish in the larger timeframe. But short term it's always a reason for caution for me when price is not moving with massive inflows (or outflows).