Bitcoin's trend model has flipped to bear, ETF outflows have accelerated to $2.7 billion since May 7, and the "never sell" narrative that underpinned MicroStrategy's premium valuation has cracked. Ethereum dominance has fallen below 10% for the first time since July 2025. Implied volatility is near historic lows. The map has changed.

This week's Crypto Kickoff covers: Why ETF holders are selling, and whether flows can reverse without a catalyst. The inflation dynamic most Bitcoin investors have backwards, and why it matters now. Ethereum's positioning: why the funding/price divergence sets up a potential forced unwind. Options market signals: what cheap vol is telling traders to do differently. The relative-value trade that remains our highest-conviction call, and the two names with genuine upside momentum.

Every Monday, we publish our Weekly Crypto Kickoff, a structured, data-driven briefing covering Bitcoin and Ethereum positioning, flow, liquidity, macro dynamics, options market signals, and overall crypto market structure. It is designed to give you everything that matters for the week ahead in a focused 12–15-minute read.

Crypto Market Cap (LHS, $ trillions) vs. Trading Volume (RHS, $ billions)

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