Capital rotation is getting interesting.



Bitcoin ETFs just pulled $167M in a single day, breaking the outflow streak March inflows already at ~$2.5B and close to flipping YTD positive.

Meanwhile, Gold ETFs are bleeding hard with ~$22B in outflows.

That’s a clear shift in narrative money slowly rotating from traditional safety → digital store of value.

But zoom out…

BTC/Gold ratio is still stuck in a multi-year range. Even with $BTC outperforming ~32% this month, we’re not out of the woods yet.

If this plays like previous cycles, one more relative dip vs gold isn’t off the table before a real expansion phase.

Flows are turning bullish, but structure still says patience before full conviction.
BTC1,04%
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