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ETF flows just turned positive for the first time since April July marked a real shift: $BTC ETFs pulled in +$234M $ETH ETFs pulled in +$338M The numbers aren’t huge, but the direction matters. For context, BTC ETFs had $2.43B in outflows in May and $4.51B in June. That’s $6.9B gone in two months. So $234M isn’t massive, but it’s the first sign of a reversal. We also just saw the longest 5-day inflow streak in 3 months, $727M total. Here’s the catch: spot is still quiet. BTC has been trading at a discount for 2.5 months. Stablecoin transfer volume is at multi-month lows. No retail FOMO anywhere. That’s the divergence right there. Institutions are quietly accumulating through ETFs while spot traders are sitting out. Smart money moves early. Retail shows up later. $BTC #DailyOrbit @OKX Orbit