Bitcoin’s 38% plunge just revealed who has paper hands — and it wasn’t ETF buyers
The March and April 2026 drawdown has structural penalties, as Bitcoin ETF holders stayed regular. Bitcoin sits close to $78,000, roughly 38% beneath the $125,761 peak from Oct. 6, and US spot Bitcoin ETFs pulled in $1.32 billion in March, reversing a four-month outflow streak. Then, the ETFs added one other $2.42 billion in internet…
