The crypto washout extended to ETFs on Monday, with Bitcoin ETFs seeing a $363 million outflow while Ethereum ETFs saw an exit of $76 million.
On the intraday price action, Bitcoin tested a 13-day low of $112.2k with short-term holder cost basis now at $111.4k.
Exchange BTC balances down ~31,265 BTC over four weeks; wallets holding 10–10k BTC have added 56,372 BTC since Aug. 27. This shows that whales continue to accumulate the dip.
If $112k holds over the next day, buying in tranches to lower cost basis remains a constructive path; sustained trade below $111.4k risks a structural shift.
The HKMA handed its first approvals to the banks that already print the Hong Kong dollar. That tells you everything about what these tokens are meant to be.
Geopolitical pressure from the Strait of Hormuz standoff continues to weigh on BTC, which has failed to sustain gains above $72,500 even as whale selling dries up and leveraged shorts accumulate.
BTC retreated from a weekend high near $73,000 after the U.S. announced naval interdiction of vessels transiting the Strait of Hormuz, compounding an already fragile market structure.
DRW founder Don Wilson's blunt critique of MEV cuts to a deeper flaw: blockchain market design has drifted into engineering complexity that extracts value without improving price discovery or capital allocation.
