$BTC BlackRock IBIT, Grayscale GBTC, ARKB, VanEck HODL and other star products all showed zero transactions today, indicating that institutional buying is collectively 'stopping' 🔥.

Despite the brief optimism brought by Sino-US trade negotiations, Bitcoin has yet to stabilize above $105,000, and the market is in a wait-and-see mode.

Ironically, most ETFs are still trading at a slight premium, with HODL leading (+0.30%), while DEFI is 'lonely declining' at a -0.07% discount 📉, reflecting weak short-term confidence among investors.