Today feels so surreal... Since the U.S. stock market opened, Coinbase's cumulative CVD is nearly -2000... Is there going to be a massive ETF outflow tomorrow? In the past, with this kind of outflow, prices would drop at least 2-3% to start... but instead, it’s rebounding all the way up? So surreal... Meanwhile, for whale-level trades, the spot and contract movements are completely opposite... Spot trades in the $1M+~$5M range are mostly sell-offs (probably on Coinbase). For contract trades in the $5M+ range, it’s sell first, then buy... This current rebound is almost entirely driven by large contract buy orders pushing the market up. Just watching and going to sleep... can't make sense of this kind of divergence.