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Averyy
$BTC ETFs flipped to net outflows after three weeks of inflows. $ETH ETFs are bleeding too. Not panic rotation. $BTC funding is near flat-to-negative, so shorts pay longs. Altcoin open interest is at a record share of market cap, mostly SOL, XRP, HYPE. Thin breadth means crowded shorts can squeeze, but if spot leaks, perps flush. I'm watching the next ETF print. If $BTC inflows return while funding stays negative, that's the tell. Who's absorbing supply? ETF desks or perp shorts?
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