1,000,000% I'm less interested in watching the fiat price than the movement of coins these days. There was also net outflows from exchanges. Price is pure noise.

The futures market is extremely fiat because no one ever stands for delivery of the product. Similar to how fractional reserve banking works, people never redeemed the slips backing the gold. Until people take delivery of coins off exchange it won't budge.

Think it’s bought otc and miners have a big enough hodl position that they are willing to sell. But sure this won’t go well for a long time