The moving company took on a big job this week
The capital flow drama is more exciting than the K-line. The rate turned negative on 10/06 and 10/07, the bears just popped champagne, then from 10/08 there were three consecutive rises, today it reached +0.0052%—the bulls are spending again, the atmosphere is warming up. The positions are even more straightforward: 10/06 -346 million, 10/08 -201 million, 10/09 single day -382 million, a net outflow of 655 million dollars over the week, with over ten billion level leverage on the contract side being washed out by more than half; on 10/10 it turned positive with a return flow of 42 million, the volume is not large, but the direction has changed.
This round of retreat is not retail investors cutting losses, but a disciplined moving—rates didn’t collapse, liquidations didn’t happen en masse, it’s just positions withdrawing. After the withdrawal, new money starts to come in, coupled with Citibank raising the $BTC target price to 113,000 (12-month horizon), the smart money’s script is clearer than the K-line.
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