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Brothers, on May 5th (Eastern US), the total net inflow of spot BTC ETFs was about $467.3 million, marking the fourth consecutive day of net inflows.
More striking in structure: IBIT absorbed about $251.4 million in a single day, FBTC about $133.2 million, ARKB about $92.3 million; meanwhile, GBTC is still slightly flowing out (about -$18.4 million), and HODL is also flowing out (about -$5.8 million). This isn't "the entire market is buying," but rather a few major products absorbing supply.
In the market, 80k isn't a dividing line between bulls and bears, more like an "asset allocation threshold": when net inflows continue, spot selling pressure is passively absorbed, and prices tend to move smoothly; once net inflows stop, retracements happen faster than expected because the risk appetite of the same capital shifts quickly.
The key variables remain twofold: whether ETF net inflows spread from "concentrating on IBIT/FBTC" to more products; and whether GBTC outflows suddenly accelerate. As long as these two do not worsen, the move back above 80k is more like "long-term money raising the floor," not a short-term pump.
Trading desks should focus not on candlestick patterns, but on the flow chart after each day's close: continuous net inflows = spot supply being absorbed; large single-day outflows = leverage starting to find excuses. Above 80k, volatility is acceptable; below 80k, structural variables are loosening.