The Great Crypto Circus: Outflows, Fights, and a Low Supply Surprise 🤡

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In the grand theater of financial chaos, where hope often takes a backseat to despair, a peculiar episode unfolds. Last week, the U.S. Bitcoin ETFs took a dive, shedding a staggering $1.23 billion-no small potatoes for those invested in the fantasy, eh? And on Friday alone, a cool $366.6 million evaporated into the void, like a magician’s rabbit. BlackRock’s trusty iShares Bitcoin Trust lost $268.6 million, Fidelity’s Bitcoin fund dropped $67.2 million, and Grayscale’s GBTC component decided to egress, leaving $25 million lighter. The valiant Valkyrie ETF kept relatively quiet-or just cowardly retreating, who’s to say? Meanwhile, other products? Flat as a pancake. 🥞

All these tears and tantrums follow a weekend tempest that swept through crypto, wiping out over $19 billion worth of leveraged fools playing the game with fire. The culprit? An unexpected, eyebrow-raising act by none other than Donald Trump-yes, that Trump-who declared a 100% tariff on Chinese imports, sending markets into a frenzy of panic and low liquidity. The kind of chaos where morals and rationality go out the window faster than you can say “pump and dump.”

Bitcoin’s Supply: The Six-Year Low That Might Just Save Us

Amidst this chaos, something quietly stirs-Bitcoin’s supply on exchanges has hit a six-year low. Thanks to Glassnode’s data, we see over 45,000 BTC-worth approximately $4.81 billion-pilfered from exchanges since October’s dawn. It’s as if the crypto universe is on a health kick, slimming down for the coming storm. Less supply on the shelves often means fewer coins to dump, hinting that the market might just breathe again. Or at least look dignified enough to fool a few traders into thinking it’s not doomed.

Many wise voices, including Scott Melker, the soothsayer of The Wolf of All Streets podcast, say last week’s bloodbath is more of a wake-up call than a death knell. The market’s kind of like a drunken sailor-stumbling now and then, but still afloat. Melker notes: “Events like last weekend’s liquidation force everyone to reprice risk. It’s not the end-it’s just winter coming early.” Or so they hope, while watching governments, companies, and indices scribble “Bitcoin” everywhere like a bad tattoo.

“After the grandest liquidation in crypto history, I thought October would drown in red. But somehow, it’s hanging on! Almost miraculous, really. Like finding a clean sock in the laundry.”

– The Wolf Of All Streets (@scottmelker) October 14, 2025

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2025-10-20 14:32