🚨 The return of Bitcoin ETF inflows lasted long enough to change the headline. It did not last long enough to change the regime. 📊 Quick Facts 📉 Four consecutive outflow sessions removed more than $500M from US spot Bitcoin ETFs. 📈 Wednesday ended the streak with +$32.1M. 📈 Thursday strengthened to +$233.1M. 📉 Friday reversed to -$265.4M. Ξ Ether funds moved from an outflow session to +$12.8M and +$9.0M across the following two sessions. 💰 Cumulative spot Bitcoin ETF inflows remained above $51B. The obvious interpretation is that institutional demand returned. The more useful interpretation is that institutional demand remains unstable. ETF flows matter because they reveal whether price is being supported by a recurring balance-sheet buyer or by temporary positioning. One positive session can interrupt an outflow sequence, but it cannot prove that the allocation cycle has restarted. The three-session progression is more informative: First, buyers returned cautiously. Then demand accelerated. Then a larger negative print erased most of the apparent improvement. That is not a failed Bitcoin thesis. It is a market in which institutions are still recalibrating exposure, entry prices and portfolio risk rather than committing to a durable directional regime. The Ether divergence also deserves caution. Small positive $ETH inflows while Bitcoin funds lose capital may indicate selective allocation, but the amounts are not yet large enough to confirm a structural rotation. The next institutional signal is not another green daily print. It is persistent demand across several sessions while $BTC holds support and digital-dollar liquidity stops contracting. The marginal buyer is not back because one flow bar turned green. It is back when its balance sheet keeps returning after price stops rewarding it immediately. Read the full analysis: https://t.co/XOk7cocwQR #Bitcoin #Ethereum #ETF