📉 Bitcoin spot ETFs just recorded their worst 30-day outflow since launch. $6.4B has left spot BTC ETFs over the past month, even though BTC has seen larger monthly drawdowns before. That makes the flow itself worth watching. ⚠️ Cumulative net inflows have fallen from around $63B near last October’s peak to roughly $53.4B now. 🔁 But BlackRock’s Jay Jacobs noted, ETF outflows can happen for a million reasons. Part of it may simply be IBIT-to-BITA rotation. In that view, this is short-term ETF volatility, not necessarily a change in the long-term Bitcoin thesis. 💡 Outflow warning or short-term noise? What is your long-term view on Bitcoin?

1/3 Micron earnings report tonight may decide the next move for the AI trade. $MU After yesterday’s tech/AI selloff, this is a real demand check for the market. - If Micron beats or guides in line, the market likely treats yesterday as a positioning reset. - If management signals slower HBM demand growth, weaker backlog visibility, or more cautious customer ordering patterns, the market may start questioning how long the AI capex cycle can last.

1/2 $SPCX just vaporized $600B in a week: -35% from SpaceX’s post-IPO high. 🚀📉 That’s 4x Warren Buffett. 3.5x Jensen Huang. Gone in days. SpaceX erased more wealth in under a week than most of the world’s richest people built in a lifetime. But a 35% drop doesn’t mean the bottom is in: ▪️ Positioning: $100B+ retail buy orders, ~290M shares/day. That “buy and win” euphoria signals a top, not a bottom. ▪️ Early money: VCs and institutions sit on a far lower cost basis, with every incentive to take profit.

Welcome to this week’s Crypto Alpha 👀 Two trends stand out: 🏦 Crypto’s TradFi pipes are expanding Kraken becomes the first crypto bank to secure a Fed master account. Morgan Stanley actively advances spot crypto ETF filings. ⚡ Oil perps are booming Crude perp volume > $2B/day Total DEX perp volume > $10B TradFi-linked assets > 30% On-chain perps: permissionless. 24/7. Real-time price discovery. As energy markets heat up and institutions deepen their footprint, crypto is becoming more intertwined with global macro flows. Read the full BloFin Research breakdown 👉 blofin.com/en/academy/flow-i… #Bitcoin #Crypto #TradFi #ETF #Oil #Macro #BloFinResearch