The market is lying about what it wants. Bitcoin's drift toward $95,000 amid record ETF outflows suggests not momentum but exhaustion—capital departing without panic, vacating positions that new buyers aren't filling.

This is the uncomfortable truth that the headline number obscures: the rally's engine has shifted into neutral. Price holds, but conviction doesn't. The buyers who drove November's surge have become December's sellers, and the bid that remains is thin, mechanical, unconvinced.

For sophisticated investors, the signal is clear: this is not the moment for bold action. It's the moment for observation—watching whether the next wave of capital arrives before the current holders lose patience.