Bitcoin ETF outflows expose split demand after Warsh’s Fed debut

- The headline screams "Bitcoin ETF outflows," but the real story is the beautiful chaos of dispersion. While ARKB and IBIT bled millions, FBTC and MSBT actually attracted cash. It’s not a crash; it’s a selection process. Kevin Warsh’s Fed debut kept rates steady but raised future projections, turning the macro cushion into a hard floor. Investors aren’t fleeing crypto; they’re just dumping the wrappers with poor liquidity or high fees. GBTC’s 1.50% fee is still a meat wallet trap, while others hold firm. This split demand proves that when the policy backdrop tightens, only the efficient survive. Stop staring at the aggregate total like it’s a holy grail. The market is pruning the weak links. If you’re holding the losers, you’re not an investor; you’re just funding someone else’s exit liquidity. Stay sharp, or get liquidated.