$BTC is about to get rejected at $71.5k for the 5th time. That's the consensus right now. But that bear case could be weakening… Everyone's focused on that resistance level. Four rejections in a month. The chart looks ugly. (Fair enough. Technical resistance is real.) But here's what that analysis misses… The supply side of this equation is changing. We just saw $225.2M in BTC ETF inflows yesterday. And $458.2M the day before. That's nearly $700M of new institutional demand in 48 hours (enough that we’re about to flip to net-positive inflows year-to-date). Sellers are likely exhausted. Anyone who was going to sell after months of choppy price action has probably already sold. (Long story longer: the weak hands are drying up.) And then there's the wildcard nobody seems to be pricing in just yet… ...