File photograph of the U.S. Capitol, illustrating the U.S. policy backdrop. Photo: Toni Smith / U.S. Geological Survey (public domain).Edition: November 4, 20264 min readBitcoin ETF outflows: what a neutral risk reading meansTwo reported ETF trading days show net outflows, while our November 3 model reading remains Neutral. Here is what each observation tells us—and what still needs to be checked.Read the edition↗