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BIT Official
wrote a post · Feb 11 14:56

📊 Matrixport Daily Chart – February 11 2026 📊 The Broken Basis: Why Bitcoin’s ETF Engine has Stalled

🔹 Retail participation has stayed largely absent for over a year — a key missing piece in crypto’s upside momentum.
🔹 Using South Korea trading volumes as a proxy, the “retail bid” still hasn’t meaningfully shown up.
🔹 Without retail demand, BTC perpetual funding rates remain compressed and struggle to lift.
🔹 Low funding weakens the basis trade (cash-and-carry arbitrage), keeping ETF inflows modest at best.
🔹 Bottom **: without a retail-driven surge to widen spreads, institutional flows are likely to stay muted — extending the consolidation phase.
🔹 Retail participation has stayed largely absent for over a year — a key missing piece in crypto’s upside momentum. 🔹 Using South Korea trading volumes as a proxy, the “retail bid” still hasn’t meaningfully shown up. 🔹 Without retail demand, BTC perpetual funding rates remain compressed and struggle to lift. 🔹 Low funding weakens the basis trade (cash-and-carry arbitrage), keeping ETF inflows mode...
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