In last 10 days, since 27August, BTC ETFs unloaded $1,186B or about BTC20,5k (over 1,5 months of supply). With the whole Durov saga hedge funds might be thinking we're entering the "they fight us" stage and unloading corn.  Very telling that blackrock had 0 flow in those past 10 days except for one day 29Aug where they had -$13,5MM outflow. That is, on 27Aug corn was at ~$62k and today ETFs closed around ~$53,5k and all 0 flow days except for one.

The other issue is the correlation with the "risk-on" assets. This might be part of the "taming bitcoin". As long as funds holding BTC treat it as a risk-on asset it becomes a self-fulfilling prophecy, and traders gonna trade...