For those who woke up to $BTC below $100K: We're now in a zone of heavy ETF outflows. -$866.70M today already. • BlackRock's IBIT alone saw -$257M outflow (first major outflow since launch) • Grayscale's BTC Mini Trust bled -$318M The "smart money" is de-risking hard. In fact, the market is repricing the December Fed rate cut probability: Last week: 85% chance of a cut Now: Nearly 50/50 (coin flip territory) Higher-for-longer rates → Stronger USD → Risk assets (BTC, stocks) get crushed. Tech stocks are also tanking (Nasdaq -2.2%, S&P 500 -1.6%) → BTC follows due to high correlation.