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Bitcoin cleared the $66,000 mark even as spot crypto exchange-traded funds logged net outflows, a divergence that investment platform Pluang says is consistent with an emerging phase it characterizes as a new crypto winter.
The headline price and the fund-flow data are pointing in opposite directions, raising questions about what is actually driving the bid.
ETF Outflows Complicate the Bull Case The outflow signal matters because institutional inflows via ETF wrappers had been a primary narrative underpinning the rally earlier in the cycle.
When that flow reverses while spot prices hold, it suggests either that other buyer types are absorbing the selling or that the ETF redemptions are smaller in size than the headline implies.
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