After this round of the bull market ETF passes, the starting point of each wave of the market is basically inseparable from the net inflow of spot ETFs. The reason ETH has been strong in the past two months is actually because the ETF side has been buying aggressively.

Today, I checked, and the funds for Bitcoin and Ethereum ETFs have seen continuous net outflows for several days, indicating that short-term bulls are a bit shaken, and funds are hesitating, with unclear direction. In this situation, rashly going long would result in a poor risk-reward ratio and low cost-effectiveness.

Let’s observe the inflow and outflow situation of the ETFs for a few days before judging the strength of the market. If BTC and ETH ETFs continue to see large outflows tomorrow, the short-term trend is likely to continue to be weak.