Despite Bitcoin's price breaking above $105,000, the inventory of Bitcoin on exchanges continues to decline, indicating that most investors still maintain a long-term bullish outlook and continue to buy on dips. However, the inflow of funds into spot Bitcoin ETFs has noticeably slowed recently, with net inflows over the past two weeks dropping by more than half compared to previous levels, showing that traditional institutional investors' sentiment is becoming more cautious. Whether Bitcoin can continue its upward momentum in the future relies not only on the 'fear of missing out' (FOMO) psychology of exchange users but also on the return of traditional funds to create stronger upward momentum.