The 7D-SMA of US Spot ETF Netflow dropped to -$88M/day, the largest outflow since mid-February. February's outflows occurred into price weakness. This wave is selling into strength, with BTC trading near $80k. Institutional participants were using the recovery over the recent days as an exit, not responding to fear. 📉http://glassno.de/4nrzXRD(glassnode)