Bitcoin ETF market just witnessed its most dramatic capital exodus in two weeks—something's shifting beneath the surface.

The heavyweight? BlackRock's IBIT watched $112.9 million walk out the door. Not far behind, Fidelity's FBTC hemorrhaged another $54.2 million. But here's the kicker: it wasn't just the giants bleeding. VanEck's HODL, Grayscale's GBTC, and Bitwise's BITB all joined the retreat.

When institutional money moves in sync like this, it's rarely a coincidence. The question isn't just about the outflows—it's about what these major players see coming that retail doesn't.