Leveraged BTC ETF exposure has returned to lows not seen since July 5, 2024. VolatilityShares' 2x leveraged long BTC ETF has faced BTC equivalent outflows of 32,825 BTC since December 17 and now holds a BTC exposure similar to its levels during the Mt. Gox repayments.

Less than a third of all trading days in 2025 have resulted in net inflows to ETH ETFs. An even sadder stat: Only 4 of the past 42 trading days have resulted in net inflows to ETH ETFs.

Perp traders are not in the business of holding their horses. OI up 22,250 BTC in the past 36 hours, a 8.7% notional increase!

That's it for MSTR's current $21bn ATM offering, $128.7m left in the tank. When announced on October 30, MSTR expected to run this ATM until EOY 2027, but here we are - 6 months later. MSTR earnings are coming up on May 1. Will it include a new giga ATM announcement?

7-day average funding rates on Binance's BTCUSDT perp are negative for the first time since September 17, 2024. One-week funding rate averages have only been negative four times over the past two years. Sep 19-22, 2023 Oct 20, 2023 Aug 16-24, 2024 Sep 10-17, 2024

The 60-day deadline of Trump's Strategic Bitcoin Reserve executive order is May 5. Time is near for us to have a good time with our bitcoin, crypto and everything else we're playing with!

BTC 7-day volatility hits 563 day low

Fun fact: The BTCUSDT perp ended its longest-ever sub-neutral funding rate streak last week, which lasted 180 intervals and 60 days. Additional fact: Sub-neutral funding rate regimes rarely happen near market tops.

LEO has fallen from trading at a 51% premium to trading at par with the market value of the BTC expected to be returned to Bitfinex from the U.S. government. An estimated 94,636 BTC is expected to be returned to Bitfinex. Bitfinex intends (per 2022) to spend 80% of the BTC to

After solid flows yesterday, the bitcoin under management by global ETPs is back where it belongs, at all-time highs. Net inflows since April 10: 81,466 BTC.

VolatilityShares' leveraged ETH ETF is tremendously popular and represents a massive part of both the U.S. ETH ETF market and CME's OI. It's dominance in ETH is many magnitudes above its relative significance in BTC markets. BlackRock's ETH ETF has seen net inflows of $1.3bn so

The sustained low funding rate environment is fascinating. Perps trade at a lasting discount to spot, no risk appetite. Annualized 7-d avg funding rates at 3.46%. BTC has never traded this close to ATHs at such low funding rates. FRs are narrowing for each passing month.

IBIT has surpassed 700,000 BTC under management

In euro terms, January 20 still marks BTC’s all-time high.

Low volatility is maturity. Over the past 6 months, 30% of the 100 largest S&P 500 firms were more volatile than BTC.

BTCUSD overlaid with every day ETHUSD hit a new ATH.