Indeed, yesterday's decline scared quite a few investors.

CN
Phyrex
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1 day ago

Indeed, the drop yesterday scared quite a few investors. The market was still optimistic on Monday, but by Tuesday, it had completely changed. Both BTC and ETH saw a significant number of users leaving. The difference is that BlackRock's users did not buy the dip in #ETH but instead heavily bought #BTC. In contrast, ETH experienced a pure net outflow, with Fidelity, which previously had strong buying power, seeing its largest single-day net outflow ever, nearly 20,000 ETH.

Although the outflow from BlackRock's investors was not large, there was still an outflow of 174 ETH. On the other hand, the previously heavily sold $ETHE had not even reached triple digits in outflow. However, the data from Tuesday shows that there was either a net outflow or zero, with no net inflow at all.

Looking purely at the ETF data, it is evident that some users are in a state of panic, especially with ETH. If we look at BTC, there was even more widespread selling, as most investors in ETH are still taking a wait-and-see approach. From a macro perspective, if the sentiment decline is indeed due to labor shortages as mentioned in yesterday's analysis, then Friday could very well be a price-in event or possibly a rebound.

After all, in reality, non-farm payroll data is the most important, and it may not necessarily be bad. The current drop is likely a reaction to expectations regarding the non-farm data.

The data has been updated, address: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing

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