Every Zipp story tagged #BitcoinOutflows, newest first.
Spot CVD swung 143% negative, monthly realized-cap growth collapsed 57%, and ETF holders barely above water at MVRV 1.25 — the bid is structural-thin and institutions are exiting urgently.
Bitcoin trading like a high-beta risk asset should rally with stocks, not the other way around — the divergence is the story, and ETF outflows are the mechanism.
The pace has settled at roughly $50M a month — a steady, programmatic liquidation rather than a forced sale, and the sovereign still holds $252M in bitcoin.
Glassnode
CryptoSlate
TheBlock