Every Zipp story tagged #LeverageFlush, newest first.
The slide is incremental on a 30-day basis, but it lands inside Q2's third straight losing quarter and the largest ETF outflow since launch, which is the larger tape the leverage flush is happening…
Open interest has fallen from $1.3B to under $150M and long liquidations ran 832% above the three-month average, so the bid now has to come from ETFs and active addresses, not crowded leverage.
The 3% drop was driven by Nikkei weakness and a leverage flush, not isolated BTC flow, with long/short taker volume tilting 51/49 toward buyers despite the slide.
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