ETF Money Is Flowing In. #Bitcoin Isn’t Moving. Here’s Why.

$FBTC And $ARKB Still Have The Most Direct Impact On BTC Price.

FBTC Hasn’t Made A New High Since March 2024.

ARKB Has Been Trending Lower Since July.

$MSTR Shows The Same Pattern: Peaked In Nov 2024, No New High Since.

Liquidity Is Clearly Losing Momentum Across The Market.

What About $IBIT?

Most Buying Happens OTC. It Absorbs Supply But Doesn’t Push Spot Price Higher.

Without IBIT, Bitcoin Would Likely Be Much Lower Already.

Now Even IBIT Liquidity Is Starting To Weaken.

Short-Term Inflows Can Appear , But The Broader Trend Remains Negative.

If OTC Demand Fails, Those Coins Hit The Open Market.

Stay Sharp.