Today's Market Update Yesterday's ETF inflow of 1 billion... definitely set a record for this year. Ultimately, it stopped at the 87–88k range we mentioned yesterday, where there were decent sell orders... Now, moving further up (87–90k), we've reached a very critical resistance zone. (Chart 1) On-chain models are still in the bullish zone (Chart 2). (This wave has stayed above the 0.4 level since flipping bullish at 64k, and even last week's dip to 75k only briefly touched 0.4.) This wave's on-chain cyclical trend model has already captured 20k points... Meanwhile, looking at the order book (Chart 3): Below 90k, spot orders are starting to reappear. At the same time, contract longs are sitting around 84k, waiting for a pullback to enter. Although the overall bullish trend hasn't been broken yet... There's resistance above and support below. For now, it looks like we're still in a localized consolidation range... Pulling off another big upward move seems tough. In the next few days, the opportunity to buy the dip is still around yesterday's 84k range (but with new contract orders today, there might be some front-running). --------------- From a funding perspective, Coinbase's real premium is still very positive. Net inflows are likely to continue today. So bears should remain cautious today...