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Emilia Johnson
$BTC ETF outflows aren't "Wall Street dumping." They follow price, they don't lead it.
Oct 22: -$635M (biggest since June), two days after +$528M. That's ~0.6% of ~$105B AUM. Open interest is down ~17% in 30 days.
$79.1k and the Oct 15 low ($79.7k): two tests, no break.
My view: $79–80k is a defended floor.
Wrong if: daily close under $79k with outflows continuing.
Catalyst: Fed, Oct 27–28.
Healthy reset or apathy?
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