ETF data has now updated. BlackRock/IBIT reported, and the session turned negative again. Latest ETF session: IBIT: -3.68K BTC Buyers: FBTC: +938.4 BTC ARKB: +996.86 BTC BITB: +222.75 BTC MSBT: +77.41 BTC Total ETF flow: -1.44K BTC -$91.4M This is the key detail. There were buyers, but BlackRock’s outflow was larger than the combined absorption from other funds. So ETF demand is still not clean. It is selective, fragmented, and still not strong enough to confirm a real reversal. For BTC to stabilize, ETF flows need to stop being driven by one large seller. Until then, every bounce remains structurally fragile. Not financial advice.

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