Bitcoin ETF Inflows Hit $626M As IBIT Takes 80.5% Of Wednesday's $244M — 6th Straight Positive Sessions

$626 Million In Three Sessions And IBIT Took $479 Million

U.S.-listed spot Bitcoin exchange-traded funds pulled in $626 million across the first three sessions of August, the strongest three-day stretch since early May and a sharp reversal for a product category that spent most of the summer bleeding. IBIT captured $479 million of that — 76.5% of the entire group total — lifting its cumulative net inflow to nearly $61 billion.

August has recorded zero days of net outflows. The run is now six consecutive sessions of positive flow, and Wednesday's $244.42 million was the largest single day of the week.

That concentration is the story rather than the headline. One fund taking three-quarters of a three-day total means eleven other products are fighting over $147 million — roughly $13 million each across three sessions, or $4.5 million a day. At that pace the smaller issuers are not competing for institutional allocations; they are collecting residual retail flow.

Price responded modestly and then stalled. Bitcoin briefly pushed above $64,920 Wednesday and traded near $64,744.53, up roughly 0.7% over 24 hours. By Thursday it sat at $64,509.85, up $372.59 from the prior morning, and reached $64,830 by mid-session — up 0.8% on the day and 1.3% on the week.

Set that against the flow. Six hundred and twenty-six million dollars of net creations produced a move from roughly $63,500 to $64,800 — about 2%. In a market with a $1.33 trillion capitalization, $626 million is 0.047% of the float. The arithmetic explains the muted response, and it explains why the streak is being treated as a signal rather than as a driver.

The macro backdrop that enabled it was straightforward. Risk appetite improved across traditional markets at the start of the month, with equity indices grinding back toward record territory — the Dow printed 54,373.94 intraday Thursday — and crude easing after Gulf tension cooled, with September WTI at $76.13 and the global benchmark under $80.

Bitcoin tends to trade with that tape. The question this week's flow poses is whether $626 million represents institutional conviction returning or arbitrage desks harvesting a basis that has compressed to 5%.

The Session Tape: $170.1M, $211.5M, Then $244.4M

The daily progression matters because it shows the flow accelerating rather than front-loading, and it shows which funds actually participated.

Monday August 3 delivered $170.1 million across the group, with seven of the twelve listed funds attracting cash and five flat. IBIT supplied $111.4 million — 65.5% of the total. FBTC took $33.4 million, EZBC added $9.2 million, BTCO drew $6.7 million and HODL captured $4.5 million.

Tuesday brought $211.5 million. IBIT took $170.3 million, or 80.5% of the session. FBTC managed $19.6 million, ARKB $9.2 million, BITB $8.7 million and MSBT $3.7 million.

Wednesday was the largest at $244.42 million, with IBIT supplying $196.83 million — 80.5% again.

Run the concentration across the three days. IBIT's share moved from 65.5% to 80.5% to 80.5%. The rebound reached more funds on day one and then narrowed back around a single product for the following two sessions. Breadth was widest at the smallest daily total and narrowest at the largest.

That pattern is the opposite of what a broadening institutional bid looks like. Genuine reallocation across the category would show rising participation as totals grew. What actually happened is that one fund did the incremental work while the others stayed near their baseline — FBTC fell from $33.4 million on Monday to $19.6 million on Tuesday even as the group total rose $41 million.

The comparison to the previous cycle of flows sharpens it. On February 20, the group recorded $88.04 million with IBIT accounting for nearly three-quarters of the figure. Six months later, the same product is taking 80.5% of a session three times larger. Concentration has increased, not diluted.

For anyone reading flow as a demand signal, the practical question is whether a single fund's creations reflect end-investor demand or authorised-participant activity linked to basis trades. With annualised futures basis near 5% and calendar spreads at 0.4%, the economics are thin — and thin economics executed on size still show up in the flow tables while generating no net demand for spot.

Three days, one fund, 76.5% of the total.

IBIT At $61 Billion Cumulative And $60.5 Billion Of Inflows

The scale of the dominant product has become the defining feature of this asset class. IBIT accounts for $60.5 billion of total category inflows and its cumulative net inflow now sits at nearly $61 billion after this week's $479 million.

Against a category that holds $77.6 billion in net assets and has taken $51.5 billion in cumulative net inflows since the January 2024 launch, those figures produce an arithmetic that is worth stating plainly: one fund has absorbed more cumulative inflow than the entire group has retained.

That is possible because of redemptions elsewhere. FBTC has drawn roughly $9.95 billion. GBTC has shed $27.47 billion. Sum the three and you get $43 billion, against a $51.5 billion group figure that includes the nine remaining products.

The asset base tells the same story. IBIT holds approximately $47.08 billion in net assets against the category's $77.6 billion — a 60.7% share. Its most recent fact sheet disclosed 777,872 coins under custody. At $64,509.85 that position is worth $50.2 billion, and it represents roughly 3.7% of the 21 million total supply.

The category as a whole has locked 6.77% of mined supply, with cumulative inflows measured on a separate methodology at $58.7 billion.

The structural consequence is that Bitcoin's regulated-wrapper demand has effectively become one product's flow. Anyone modelling institutional adoption from category data is modelling a single fund with a decorative tail, and anyone hoping for broadening participation has watched concentration rise across three consecutive years.

That has implications beyond league tables. A single dominant fund creates a single point of concentration risk in custody, in authorised-participant relationships and in the flow signal itself. When IBIT posts $196.83 million, the category posts $244.42 million. When IBIT posts negative $122.7 million, the category posts negative $265.4 million.

The flow data is not measuring institutional sentiment toward Bitcoin. It is measuring one distribution channel.

July 31 Proved How Fast Zero Arrives

The session immediately before this week's streak is the necessary counterweight to every bullish reading of $626 million.

On July 31 the group recorded a $265.4 million net outflow with not a single one of the twelve funds reporting a net inflow. The positive-fund count went to zero. IBIT posted $122.7 million of net outflows, FBTC lost $54.8 million, GBTC recorded $52.6 million of redemptions, BITB lost $17.8 million and ARKB lost $17.5 million.

One trading day earlier, on July 30, seven funds reported positive net flows, none reported an outflow, and the group attracted $233.1 million.

Read those two sessions together: $233.1 million in, then $265.4 million out, then $170.1 million in. Positive-fund count went from seven to zero to seven inside three trading days. That is not a category with a stable institutional base — that is a category where a single distribution channel's daily net determines the sign of the entire print.

The broader 2026 pattern is the same shape at larger amplitude. April delivered $2.44 billion in net inflows. June produced the longest outflow streak on record, shedding billions with Bitcoin near $63,000. A six-day run in late July pulled nearly $1 billion as the token approached $67,000. Immediately before this week, a $61.53 million outflow snapped a thin three-week inflow streak.

Bursts, reversals, bursts. No sustained accumulation phase since the spring.

That volatility is the reason the constructive reading of this week requires more sessions rather than fewer. Several consecutive weeks of inflow are needed to confirm a genuine recovery in institutional demand, and three days led almost entirely by one fund is a narrower signal than the headline number suggests.

The near-term test is specific: whether the streak survives the rest of the week and whether inflows broaden beyond the dominant issuer. If Thursday and Friday deliver another $200 million each with the positive-fund count above seven, the signal firms. If either session goes negative, the July 31 template reasserts itself and the $626 million becomes another burst in a choppy series.

Zero positive funds happened six sessions ago.

Category Net Assets At $77.6 Billion And A Lopsided Ledger

The aggregate footprint is genuinely serious and the composition is genuinely unhealthy. The U.S. spot Bitcoin fund complex holds $77.6 billion in net assets against $51.5 billion of cumulative net inflows since launch.

That $26.1 billion gap between assets and inflows represents cumulative price appreciation on the retained positions — meaning holders are collectively in profit despite Bitcoin trading 48.9% below its $126,198.07 October 2025 high. That is a function of when the money arrived rather than skill: the bulk of it entered through 2024 at prices well below current levels.

The lopsidedness is where the problem sits. IBIT at $60.5 billion of inflows and roughly $47.08 billion of net assets is 60.7% of category assets. FBTC at $9.95 billion of inflows is the only other product with a meaningful franchise. GBTC has bled $27.47 billion. The remaining nine funds divide what is left.

That distribution has consequences for the market structure. Nine subscale funds competing for residual flow face rising fee pressure, thinner secondary-market liquidity and higher tracking risk. Their existence adds optionality for allocators and adds nothing to price discovery, because $4.5 million a day of creations does not move a $1.33 trillion asset.

First-half 2026 was the first period since launch where category flows turned negative, with $5.4 billion of net redemptions. That reversal happened while Bitcoin fell from the $80,000s toward $59,100 in June, which is the mechanism: redemptions arrive after price falls, not before, and they amplify the decline.

Total assets of $77.6 billion also frame how much of Bitcoin's market capitalization sits in regulated wrappers: 5.8% of a $1.33 trillion market. The category has locked 6.77% of mined supply.

That share is large enough to matter for supply mechanics and small enough that flows cannot set the price. When the funds took $2.44 billion in April, Bitcoin did not break out. When they redeemed billions in June, Bitcoin bottomed at $59,100 and recovered.

The wrapper is now permanent infrastructure. It is not the marginal buyer.

GBTC Has Shed $27.47 Billion In The Largest Rotation On Record

The single largest number in this asset class is a negative one, and it explains why category flows understate what has actually happened.

GBTC has shed $27.47 billion in cumulative net outflows since conversion — the largest exchange-traded fund rotation event on record. That figure sits against a category total of $51.5 billion of net inflows, meaning gross creations across the group have run near $79 billion with the trust absorbing more than a third of that in redemptions.

The mechanism was fee arbitrage and captive-holder release. A closed-end structure that traded at a persistent discount converted into an open-ended fund with a fee well above competing products, and holders who had been trapped for years exited into cheaper wrappers or into cash. That flow ran for two years.

The consequence is that headline category flow has been suppressed throughout the entire life of these products. Every month where IBIT and FBTC took a billion dollars, the trust gave back several hundred million, and the net figure understated genuine new demand.

The July 31 session showed the trust still contributing: $52.6 million of redemptions on a day when no fund reported an inflow. It has not participated in the current streak, which means the $626 million is closer to a clean read on new demand than most prior periods.

That is arguably the most constructive detail available this week. If the trust's redemption pressure has largely exhausted, then category flow going forward reflects actual creations rather than a tug-of-war between one fund gaining and another bleeding. A group total of $626 million with the trust neutral is worth more than a $626 million total with the trust down $300 million.

The comparison to the other side of the ledger frames the transfer. IBIT gained $60.5 billion. The trust lost $27.47 billion. Roughly 45% of the dominant fund's cumulative inflow can be accounted for by capital rotating out of the legacy vehicle rather than by new money entering the asset class.

Strip that out and genuine new institutional allocation to Bitcoin through regulated wrappers is closer to $33 billion over two and a half years — about $1.1 billion a month.

The First US Spot Bitcoin ETF Closure Lands August 17

The squeeze on subscale issuers has produced its first casualty, and it is a structural marker rather than a headline.

The smallest U.S. spot Bitcoin product by net assets, trading under DEFI, is being closed. Its final trading day is August 17, after which it will sell its remaining Bitcoin and return cash to shareholders. It held $14.7 million in net assets. It is the first closure of its kind among U.S. spot Bitcoin funds, following earlier closures among futures-based products.

The next-smallest product, BTCW, holds $142.4 million — nearly ten times the size and still a rounding error against IBIT's roughly $47.08 billion.

The economics explain it. A fund holding $14.7 million generates perhaps $30,000 to $50,000 of annual revenue at typical spot Bitcoin fee levels. That does not cover custody, audit, listing, market-making and compliance costs. Twelve funds chasing a flow stream that one product monopolises at 76.5% is not a sustainable industry structure, and consolidation was inevitable.

The mechanical effect on the market is negligible: $14.7 million of Bitcoin liquidated over a period after August 17 is 0.001% of the market capitalization. The signalling effect is larger. It tells allocators that the tail of this category carries closure risk, which pushes flow further toward the largest two products and accelerates the concentration that caused the closure.

Part of the drag on the whole category has been competition for attention rather than competition on fees. Through July, an artificial-intelligence and technology fund from the same issuer as IBIT returned 39% while the broader crypto market fell roughly 36%. Much of the market has viewed the opportunity cost of holding Bitcoin as too high while AI-linked assets rally.

That is a 75-percentage-point performance gap inside one asset manager's own product shelf. Allocators making a discretionary risk-asset allocation had an obvious answer, and they took it.

Expect more closures among the nine subscale products. The category will consolidate toward two or three viable franchises, and the flow data will become even more a proxy for a single distribution channel than it already is.

Flows Arrived And Price Did Not Move

Here is the discipline required when reading $626 million as bullish: it landed, and Bitcoin went nowhere structurally.

Three sessions of net creations, $479 million of it through one fund, and the token finished the stretch at $64,509.85 — inside the same $62,000-to-$65,000 band it has occupied since early July. The 50-day exponential moving average sits at $64,587, and price is $77.15 below it. Every attempt to escape this range for three weeks has died at that number.

An ETF bid getting absorbed without moving price says the marginal buyer in spot is not outright long. The flow is consistent with basis and arbitrage structures rather than directional accumulation: buy the fund, short the future, harvest the spread. With annualised basis near 5% and August contracts trading just 0.4% above July, the economics are thin — but thin economics on size still generate creations that appear in the flow tables and produce zero net demand for the underlying.

The positioning data supports that read. Total futures and perpetual open interest slipped 2.1% to $32.1 billion, equivalent to 508,000 coins. Regulated futures open interest touched its lowest level since 2023, hovering near 100,025 coins. Thirty-day implied volatility has collapsed to 36%, the lowest since May 31 and down from near 60% in early June.

A market with light open interest, a 5% basis and 36% implied volatility absorbing $626 million of creations without a breakout is not a market where institutional conviction has returned. It is a market where supply is being absorbed at a level buyers find acceptable.

That distinction determines what happens next. If the flow is directional, a fourth and fifth day of creations pushes through $64,587 and then $66,242. If the flow is arbitrage, the streak ends when the basis compresses further and price stays pinned.

The confirmation test is explicit: a clean break above $65,000 would confirm that fund demand is doing more than absorbing supply. Failure there makes the sentiment reading the more accurate gauge.

Bitcoin needs to hold $63,000 to $64,000 to keep the structure intact.

First-Half Redemptions Of $5.4 Billion Broke The Relationship

The reason flow data has lost predictive power this year is documented in the first-half numbers. Category flows turned negative for the first time since launch, with $5.4 billion of net redemptions across the six months.

Price fell from the $80,000s in May toward $59,100 in June across the same period. The rebound to $64,800 has come on flows that only turned positive in the last several weeks.

In 2024 and 2025, creations were a reasonable proxy for new long exposure and price responded accordingly. In 2026 that relationship has broken in both directions: negative flows accompanied the decline, and the recovery preceded the flow turn rather than following it.

Two structural drains explain the divergence. The first is stablecoin supply — the two largest dollar-pegged tokens have contracted $14.5 billion since April, with the largest falling from roughly $190 billion to $183 billion and the second from $79.5 billion to $72 billion. That is capital physically leaving the ecosystem, and it operates independently of fund flows.

The second is real yields at their highest since 2008. With the policy rate at 3.50%-3.75%, the 10-year near 4.619% and the 30-year at its highest since 2007, holding dollars in government paper pays a real return that competes directly with a non-yielding asset. Capital is being paid to remain outside crypto, and no volume of fund creations offsets that.

The third channel that historically supported price has also reversed. The largest corporate holder, sitting on 843,775 coins worth $54.6 billion, has become a net seller — disposing of 1,638 coins for approximately $105 million in a third consecutive month of sales, with six consecutive weeks without a purchase, after posting an $8.22 billion quarterly loss.

Three demand channels compromised simultaneously: fund flows negative for a half-year, stablecoin supply down $14.5 billion, and the largest treasury buyer converted to seller.

Bitcoin at $64,509.85 rather than $45,000 against that backdrop is arguably the bullish observation. It also means $626 million of creations does not carry the signal it once did.

An Allocator Cut IBIT By 94% And Tripled Ether

Individual institutional behaviour this quarter has been more informative than the aggregate, and it has not favoured Bitcoin.

One European bank cut its IBIT holdings by 94% during the second quarter while tripling its Ether fund position. That rotation reduced institutional buying demand for the Bitcoin product specifically and contributed to pressure on the ether complex's net flow figures from the other side.

That is a single allocator, and the direction is what matters. A regulated institution reducing Bitcoin exposure by 94% while tripling Ether exposure is expressing a view that the second-largest asset offers better risk-adjusted return — a view supported by ether trading 22.2% below its $2,450 aggregate cost basis while Bitcoin trades above its own.

Separately, an institutional endowment liquidated an $87 million Ether fund stake and cut its Bitcoin fund holdings by 43% in a first-quarter reallocation. Different direction, same conclusion: allocators are actively repositioning rather than accumulating, and the flows in either direction are large relative to daily category totals.

Add another: a large allocator exited its entire XRP fund position, roughly $154 million, during the first quarter, pivoting toward crypto infrastructure equities.

The pattern across all three is that institutional crypto exposure is being traded rather than held. That behaviour makes daily and weekly flow data considerably less useful as a demand signal, because a single position adjustment by one holder can produce a $200 million session in either direction.

The counterargument on structure is genuine. A crypto executive has argued that federal market-structure rules could open bank liquidity to the asset class for the first time — a change that would matter far more than any single week of flows, because it would convert crypto exposure from a discretionary allocation into a balance-sheet-eligible asset for regulated depositories.

That legislation currently sits two days from a Senate recess with no indication whether it will be worked on or voted.

Until it passes, category flow remains a function of a dozen allocators' quarterly rebalancing decisions rather than a structural bid.

Extreme Fear At 25 With Retail Sentiment At 0.54

The gap between institutional flow and retail sentiment is the most interesting divergence in this market, and it is unusually wide.

The sentiment index for Bitcoin and large-cap crypto reads 25 — firmly in extreme fear — and slipped from 27 the day before. That reading came on the same session the funds absorbed $244.42 million.

Social sentiment is worse than the index implies. The positive-to-negative commentary ratio for Bitcoin fell to 0.54 since July 31, meaning bearish comments nearly doubled bullish ones across the major platforms. That is historically deep fear by the published measure.

Institutional flow positive at $626 million while retail commentary runs 2-to-1 bearish is a structurally different market than a leveraged retail bid. Historically, fund accumulation into fearful conditions has been a constructive setup, because it means supply is being absorbed by holders who are not reacting to daily price swings.

That is the strongest version of the bull case available, and it deserves the caveat it comes with: it is not a guarantee of anything.

The positioning data corroborates the retail exit rather than a retail squeeze. Roughly $1.48 billion in crypto positions were liquidated across a single 24-hour window in late June, catching more than 217,000 traders with longs absorbing most of the damage. Open interest has since drained to $32.1 billion. The one-month 25-delta skew reached 6.28 on July 23, a six-month low, meaning traders are not paying up for downside insurance or upside convexity.

Cheap volatility at a 36% floor, thin open interest, extreme fear at 25, a social ratio at 0.54, and a fund complex quietly absorbing $626 million. That combination is what accumulation looks like when the price is not cooperating.

It is also what distribution looks like immediately before a break. The difference is resolved by whether the streak extends and whether $65,000 falls.

Sentiment gauges are contrarian at extremes and coincident in the middle. A reading of 25 with price flat for four weeks is closer to the middle than it looks.

Ether At $114.6 Million, XRP At Negative $3.58 Million

The cross-asset flow picture on Wednesday showed clear differentiation, which is itself a signal about how allocators are treating the category.

Spot ether funds attracted $60.9 million, a second consecutive day of inflows, bringing the two-day total to $114.6 million. Weekly inflow reached $103.19 million, with five-week net inflows at $424.37 million and cumulative net inflow crossing $11.31 billion against total net assets of $10.61 billion. The largest ether product added $50.34 million in a single session.

XRP funds went the other way, recording $3.58 million in net outflows and reducing total net assets to $993.4 million, with cumulative net inflows standing at $1.51 billion. Solana funds took $1.00 million on August 4 against $211.49 million for Bitcoin and $53.75 million for ether.

Scale the comparison. Bitcoin captured $626 million over three days. Ether captured $114.6 million over two. XRP was negative. Solana took a rounding error.

That distribution is a flight to size inside the regulated wrapper complex, and it mirrors what spot markets are doing — Bitcoin and ether were the only two large-cap tokens in positive territory Thursday while XRP fell 1.95% to $1.04 and Solana 1.02% to $73.16.

The ether complex carries one structural feature Bitcoin does not: yield distribution. A staked ether product launched in March generates an estimated 1.9% to 2.2% annual net yield through monthly distributions, which opens income mandates that a non-yielding spot product cannot access. On one recent session, a single staked product alone kept the ether group positive with a $9 million gain — too concentrated to confirm broad rotation, and evidence of where the marginal ether allocation is going.

That distinction matters for the Bitcoin fund complex. Against government paper yielding 4.198% on the two-year, a non-yielding wrapper competes on price appreciation alone, while a staked ether product competes on total return.

Bitcoin's advantage remains scale, liquidity and the 6.77% of mined supply already locked. Its disadvantage is that a 5% basis and 36% implied volatility give arbitrage desks little reason to keep creating.

Ether at 18% of Bitcoin's flow with a quarter of the market cap is the relative-strength trade inside wrappers.

What The Streak Has To Do To Matter

Building the constructive case honestly requires a specific sequence, and each step is observable within days.

First, the streak has to extend beyond three sessions with the sixth consecutive positive day holding into Thursday and Friday. Zero net outflow days in August is a genuine achievement and it is six sessions old.

Second, inflows have to broaden beyond the dominant fund. IBIT at 76.5% of a three-day total and 80.5% of the last two sessions is a narrower signal than the headline suggests. Positive-fund counts of seven or higher with FBTC, ARKB, BITB and the smaller products contributing meaningfully would indicate genuine reallocation rather than one channel's activity.

Third, price has to clear $65,000 on a closing basis. That level is the confirmation that fund demand is doing more than absorbing supply, and it requires taking the 50-day exponential average at $64,587 first.

Fourth, the derivatives complex has to rebuild. Open interest rising from $32.1 billion with the annualised basis expanding beyond 5% and implied volatility lifting off the 36% floor together would signal directional positioning rather than arbitrage.

Fifth, market-structure legislation has to clear the Senate. Federal rules opening bank liquidity to the asset class would be a structural change worth more than any single week of flow, and it currently sits two days from recess.

Deliver those and the $626 million becomes the first leg of a genuine institutional return, with the token reclaiming $66,242 and the 100-day average at $67,025.

Fail any of them and the July 31 template applies. A category where the positive-fund count went from seven to zero to seven inside three trading days does not owe anyone a trend.

The immediate risk is that Friday's payroll print — consensus 80,000 with unemployment at 4.2% — restores two-hike pricing and takes the fund bid with it. Real yields at 2008 highs are what drained $14.5 billion from stablecoins and $5.4 billion from these products in the first half.

The Trade: $65,000 Confirms, $63,000 Invalidates

The forecast resolves into two levels and one flow question. Bitcoin at $64,509.85 sits $77.15 below the 50-day exponential average at $64,587 and $490.15 below the $65,000 confirmation line.

The bull path requires the flow to persist and the level to break. Clear $64,587, then $64,920 — Wednesday's intraday high. Take $65,000 on a closing basis and the ETF bid is confirmed as directional rather than absorptive. Above that, $66,000 and the $66,242 inverse head-and-shoulders neckline open, then the 100-day average at $67,025 — 3.9% above spot. Reclaiming the 200-day at $72,569 is what would flip the medium-term trend after a 12.5% advance.

The bear path is closer. Bitcoin needs to hold the $63,000 to $64,000 zone to keep the structure intact. Losing $63,898 opens $63,000 to $63,400, then $62,662. A weekly close beneath that reopens $60,000 and the $59,100 June low. Failure at $65,000 makes the extreme fear reading at 25 the more accurate gauge.

The base case is continued range. Six hundred and twenty-six million dollars of creations moved price 2% and left it below its 50-day average. Thirty-six percent implied volatility, $32.1 billion of open interest, a 5% basis and regulated futures positioning at its lowest since 2023 describe a market with no directional conviction from any participant.

Position sizing should weigh what the flow data actually measures. Category net assets of $77.6 billion on $51.5 billion of cumulative inflows across twelve funds, with one product holding 60.7% of assets and taking 76.5% of this week's flow, and a second product having shed $27.47 billion. First-half redemptions of $5.4 billion. The first closure in the category's history landing August 17. An allocator cutting the dominant fund 94% while tripling ether. A 39% AI fund return against a 36% crypto decline.

Against that: zero outflow days in August, six consecutive positive sessions, $626 million absorbed at a level where retail sentiment reads 0.54 and the fear index reads 25.

Base case into month-end: range $62,662 to $67,025, targeting $67,025 on a confirmed break of $65,000, with invalidation on a daily close below $62,662. Watch the positive-fund count, not the headline.

That's TradingNEWS