For the second consecutive day, there has been a net outflow of data from BTC spot ETFs. Although the outflow is not significant, it also indicates that investors' FOMO sentiment is gradually subsiding, and the frequency of price fluctuations will be higher. The main reason for the net outflow is that BlackRock investors did not flow in for the second consecutive day, and the net outflow of hundreds of Bitcoin will not have any impact on BTC spot. But as mentioned in the weekly report, the current rise in BTC is not due to strong purchasing power, but rather to a decrease in selling power. Therefore, when selling increases and purchasing power decreases, there will naturally be more price volatility, but it has not reached the level of changing BTC's narrative. The main game in the market is still on tariffs and monetary policy. Data address: https://docs. (google.com)/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit? usp=sharing This article is sponsored by Bitget | @ Bitgetzh