ChainCatcher Message, Matrixport released the latest weekly report indicating that Bitcoin ETFs have attracted over $45 billion in cumulative inflows, with stable corporate allocation demand and growing institutional interest. However, despite the strong inflow into ETFs, there remains an implicit selling pressure risk in the market, especially when the Bitcoin price approaches the average holding cost of retail investors over the past year (around $45,000), which could reveal potential selling pressure and pose a certain resistance to the rise.

The report also pointed out that due to some funds being in a loss state since flowing into Bitcoin ETFs in Q2 2024, short-term market structural adjustments may continue, with the key being whether Bitcoin can break through the existing range and stimulate a new round of capital inflow.