Exchange inflows rise as ETF flows dip amid Hormuz oil shock.

Holders offload Bitcoin into exchange inlets while ETF investors absorb most of it elsewhere, trapping price in listless balance around 77,000 dollars.^[1][2] This distribution by wallets signals exit intent at modest profits, confirmed by MVRV near one point four and fear-locked sentiment, yet spot demand stays absent as leverage clears without follow-through bids.^[3][4] Miner capitulation drags hashrate lower despite absolute levels holding security, exposing conviction fade that stable price masks.^[5] Hormuz strictures and Fed rate hold at three point five to three point seven five percent cement inflation grit and dollar strength, risks sidelined buyers further.^[6][7] Ignored tension pits institutional ETF hunger against retail distribution and macro choke—does seller fatigue break first, or do yields crush it?^[2]