CPI came in soft. Bitcoin ripped past $69k. Over $80.96B flowed back into the market in 24 hours. Retail is celebrating. I'm looking at the ETF flows and wincing.
Market Overview
Total cap sits at $2.369T today. Up 3.54% since yesterday. Sure, it feels good. But zoom out. We are still down a brutal $938.3B over the last 30 days. That's a 28.37% haircut.
Today's pump was purely macroeconomic. US inflation cooled. Risk assets caught a bid across the board. The Russell 2000 surged. Bitcoin followed.
Bitcoin & Majors
BTC jumped 3.97%, adding $52.5B to its market cap alone. Dominance is hanging at 58.07%. ETH finally showed some life, up 5.16%. SOL outperformed the majors with a 7.5% pump. Why? Solana's RWA ecosystem just hit a $1.64B all-time high. Real usage actually matters sometimes.
But here's the catch. While retail apes back in on CPI hype, Wall Street is quietly hitting the exits. US spot Bitcoin ETFs just bled $410M in a single day. BlackRock and Fidelity led the dumping. BlackRock's digital asset head claims institutions are "buying the dip" — right before moving massive stacks of BTC and ETH to Coinbase Prime. Actions speak louder than PR quotes.
Outliers
$KITE (+22.53%): Massive outperformance on heavy spot bidding.
$ZEC (+15.08%): Privacy coins catching a bid. Probably because Binance reportedly just fired its compliance team for flagging $1B in Iran-linked USDT transactions. You can't make this stuff up.
$COIN (Stock): Dropped 20%. Q4 earnings missed expectations by a mile with a -$2.49 EPS loss. Brian Armstrong reportedly dumped $550M in stock. Not great.
$SUI: Nexa trading terminal shut down entirely. Why? Zero volume on the Sui network. Ghost town metrics finally having real-world consequences.
The Take
My read: This is a macro relief rally, not a structural trend reversal. You don't ignore $410M in ETF outflows.
We have politicians making noise again. Brazil is supposedly drafting a bill for a 1M BTC strategic reserve. The White House is teasing crypto legislation to unlock "trillions" in institutional capital. Trump just stacked a CFTC advisory committee with Coinbase and Ripple execs.
Regulatory hopium is a hell of a drug.
But I'm watching the miners. Mining costs are currently sitting above the spot price. That means forced selling is coming if we don't hold $68k. Play the CPI bounce if you want. Keep your stops tight.
