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Record ETF Bleed, $1.26B Dark-Pool Exit & the Rotation Signal
Audio is available on Spreaker — see link below.
Bitcoin hit $65,710 as US spot ETFs logged their longest redemption streak since launch — but a $1.26B dark-pool block trade paying a $29.5M premium tells you exactly who was selling and why. Today's episode breaks down the rotation thesis, Strategy's symbolic sale, and the three price levels that matter now.
Audio is available on Spreaker — see link below.
Two point eight billion dollars left US spot bitcoin ETFs over ten to twelve consecutive days. That's the longest redemption streak since these products launched in January twenty twenty-four.
Here's the signal that cuts through the noise. A single IBIT block trade worth one point two six billion dollars cleared through a dark pool, paying a twenty-nine point five million dollar premium over spot price to execute immediately.
The other data point that shifted sentiment was smaller in size but larger in implication. Strategy sold thirty-two bitcoin between May twenty-sixth and thirty-first, roughly two point five million dollars, to fund preferred stock distributions.
Now layer in the macro backdrop, because this is where the rotation thesis gets its clearest confirmation. The S&P five hundred surpassed seven thousand six hundred.
One more layer worth tracking. The drop triggered one point eight billion dollars in forced liquidations in twenty-four hours, the largest wipeout since February.
The levels that matter now are sixty-five thousand, sixty-one thousand, and fifty-three thousand. The first is immediate technical support.
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