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2026-08-27：The Derivatives Reset: How Spot ETF Capital is Absorbing the Post-Squeeze Supply
The derivatives reset is complete, but what happens when the forced buyers disappear? Bitcoin has climbed about 25% this month while $3.5 billion in shorts were liquidated, yet the next move may depend on a quieter force: ETF capital steadily absorbing supply. At the same time, Treasury buybacks are reviving the debasement trade, inflation is complicating the rate outlook, and Ethereum's $93.9 billion DeFi ecosystem may be quietly shrinking its liquid float. Then there is Huma's 458.75 million-token unlock, a headline that could be far larger than the actual selling. Is this a durable…
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