In the past week, the data for spot ETFs has been quite weak, whether for $BTC or $ETH. As we've mentioned several times, this indicates a retreat of traditional users. Yesterday, nearly 1,100 Bitcoins were net withdrawn, with Fidelity and ARK being the main sellers. The users of these two funds tend to chase highs and cut losses. BlackRock's investors saw a net inflow of less than 200 BTC, which is insufficient to support the situation.

We've said many times that the data for spot ETFs does not represent price fluctuations, but it can serve as a barometer for traditional investors, reflecting their sentiment. The data over the past two weeks has gradually shifted from FOMO to indifference, with purchasing power steadily declining until sell-offs occurred, indicating that the market is waiting for new opportunities. Next, we will see what Trump has to say.

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

This article is sponsored by #Bitget ｜ @Bitget_zh

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