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11-Day ETF Bleed, Leveraged Long Squeeze & Strategy's Symbolic Crack
Audio is available on Spreaker — see link below.
Spot Bitcoin ETFs just logged 11 straight days of outflows — $3.4B in net redemptions — while futures open interest climbs to 773K BTC, creating a dangerous divergence. Today's episode breaks down the leverage trap, Strategy's first BTC sale in four years, and what the Nasdaq rotation means for institutional demand.
Audio is available on Spreaker — see link below.
Spot Bitcoin ETFs just posted their longest outflow streak since launch. Eleven straight days.
When leverage builds during a period of sustained spot outflows, you're not watching a floor form. You're watching a pressure valve tighten.
Now to the institutional story, and this one carries weight beyond the numbers. Strategy sold thirty-two Bitcoin.
The rotation context matters here. The Nasdaq one hundred is up twelve percent in May.
One more structural layer. Investors who accumulated between the fourth quarter of twenty-twenty-five and the first quarter of twenty-twenty-six are now pushing supply onto exchanges.
The two things worth watching closely from here. First, whether futures funding rates compress or hold.
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