The net outflows from Bitcoin ETF institutions for three consecutive days are: 358 million, 616 million, and 267 million, which already indicates that there is a significant divergence among ETF institutions, and they are unloading in batches.

Additionally, observing the trading volume over the past month, it has been decreasing; the bullish volume is also decreasing.

Therefore, do not have overly high expectations for the height of subsequent rebounds, around 108,500 is about right. Once the rebound is in place, it is estimated that Bitcoin will likely experience another significant drop, be aware of the risks, and caution is the best strategy.