BTC Capital Flow: In the past 12 hours, spot inflow was 175 million and outflow was 30 million;

Contract inflow was 1.1 billion and outflow was 200 million, with a contract/spot ratio of approximately 10:1. It is obvious that this is not institutions hoarding, but rather the main force pulling up through contracts, aiming to take out the short positions above. Many people mistakenly believe that the surge is caused by institutions grabbing positions, leading to FOMO, but currently, this is not the case.

If the 110,000 level does not hold steady within 3-4 days, it is likely to turn downward and continue to adjust. We need to observe for a few more days to confirm the trend.