Today's Market (2) Looking at the capital flow... Coinbase premium in the U.S. remained slightly positive after Americans woke up today... So it's speculated that ETFs can still maintain a small net inflow (Figure 1). Last Friday's inflow was already very small, just over $100 million... How much can be maintained today? Hard to say, probably around $100-200 million... --------- Looking at OI (Figure 2) Since last week's sideways movement, longs and shorts started exiting positions, and OI has been dropping steadily... During the Asian session today, with the move from 85 -> 82.5k, OI started climbing again... Today's move was entirely driven by shorts actively entering the market. Now, with U.S. stock market opening, some ETF buying has rebounded, OI is dropping, and shorts are starting to exit... Whether we can continue squeezing shorts depends on whether we can reclaim the 84k level mentioned earlier... ----------