The Bitcoin ETF market has experienced significant net outflows, particularly on April 30th, when the net outflow amount reached $56.2336 million, setting a new high for the past week. This phenomenon has drawn widespread attention from the market, likely due to changes in market sentiment, investors' uncertainty about future price trends, and the impact of the macroeconomic environment. Notably, the outflow amount from Fidelity ETF FBTC reached $137 million, indicating a decline in investor confidence in this product. In contrast, BlackRock ETF IBIT achieved a net inflow of $267 million, suggesting that some investors remain optimistic about the product's prospects. This divergence in capital flows may reflect differing views and strategies among investors regarding the market. Meanwhile, large sell orders in the market have noticeably increased, with major capital continuing to flow out, further intensifying downward pressure on the market. Currently, Bitcoin prices are under pressure, and technical indicators show downward signals for the medium to long term, with low market activity, prompting investors to proceed with caution. Looking ahead, if market sentiment does not improve, continued capital outflows may exert persistent downward pressure on Bitcoin prices. Investors should pay attention to macroeconomic changes and market sentiment to timely adjust their investment strategies. At the same time, as the regulatory environment and market acceptance of Bitcoin ETFs evolve, new investment opportunities may arise in the future, and investors are advised to maintain flexible strategies.