On Tuesday, the data for the $BTC spot ETF remains lukewarm. Although the market is still experiencing net inflows, the amount is only over 1,000 coins, primarily supplied by BlackRock. This indicates that the FOMO sentiment among traditional investors has weakened significantly, and we have returned to a state where both inflows and outflows are very minimal. This also shows that the market is fatigued with the current price and needs new positive stimuli for traditional investors to continue increasing their positions.

From a god's-eye view, the current decline in Bitcoin prices is a reaction from investors to monetary policy. Many investors are concerned that the Federal Reserve will maintain interest rates in September, leading them to sell off, but the selling volume is not substantial. Therefore, the price began to rebound after maintaining at $116,000, although we will need to see the statements from Asian investors tomorrow.

Data address: https://docs.google.com/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit?usp=sharing

This article is sponsored by #Bitget ｜ @Bitget_zh

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