The BTC spot ETF situation on Monday was not good, with a significant reduction in holdings in the past two weeks. American investors sold 1763 Bitcoin, although not a large amount, including investors from BlackRock and Grayscale, which should be related to the current trend of BTC. The market may have poor expectations for the Jackson Hole annual meeting on Friday. The market is also very conflicted in terms of expectations. If Powell turns dovish, it is very likely that there is a problem with the US economy, which is the situation that investors are worried about now. If Powell continues to bite and not cut interest rates, although it can slightly ease the economic situation, the impact of high interest rates will still be very uncertain. The data of ETFs reflects the emotions of traditional investors. Although most traditional investors have not made clear statements, they can see that their emotions are not very good. Moreover, we have mentioned many times that BTC itself is not strong in purchasing power, but rather has low selling volume. Once the market's expectations are pessimistic and the selling volume increases, the impact may be even greater. This article is sponsored by Bitget | @ Bitgetzh