Bitcoin’s Bottom Case, ETF Outflows & The No-Buyers Problem

Bitcoin may be in the buy zone, but the demand signal still looks weak. David and Mike debate whether the bottom is already in, why ETF outflows and muted buyer interest matter, what realized losses and realized cap are signaling, and whether BTC needs one more painful reset before the next real opportunity.----📣GALAXY | INSTITUTIONAL DIGITAL FINANCEhttps://bankless.cc/Galaxy          ----🎯THE DEFI REPORT | FOLLOW & SUBSCRIBEhttps://thedefireport.cc/tdr-ythttps://thedefireport.io/friendshttps://thedefireport.transistor.fm/https://x.com/the_defi_reporthttps://x.com/JustDeauIt----TIMESTAMPS0:00 Intro2:01 Pain, Patience, & Cycles5:03 Shallower Drawdowns?7:22 ETF Flows and Demand9:34 Saylor’s Canary15:32 Realized Losses Review23:00 Bitcoin Versus Nasdaq25:23 AI Bubble Meets Crypto28:37 Oil, War, & Inflation33:25 Hyperliquid’s Market Split38:28 $LIT & $WLD Momentum40:42 Pro Portfolio Playbook----Not financial or tax advice. For educational purposes only.