Just realized I haven’t analyzed the ETF data yet. It’s totally normal for ETF buying power to increase during the past couple of days when sentiment was good, but yesterday’s dip was relatively favorable, and the fact that BTC spot ETFs still saw over 7,700 BTC purchased is truly impressive. Of course, the main buying power came from BlackRock, while other institutions mostly just sold less. From a bird’s-eye view, it’s clear that BlackRock’s investors made the most profit during this wave. I still think for friends looking to buy Bitcoin, following BlackRock’s lead is totally fine. BTC’s stability remains very strong, which is why I keep emphasizing not to short BTC. Sponsored by Bitget ｜ @Bitget_zh