Yesterday, Bitcoin ETF saw an outflow of $196 million, marking four consecutive days of net outflows. After two days of net outflows, Ethereum saw a net inflow of $73.3 million yesterday. What impact does the recent outflow of funds have on the market?
1. The outflow of funds indicates significant market pressure, increased selling, and suppressed market sentiment, which may affect short-term adjustments. Thus, short-term downward risk should be noted.
2. The selling by BlackRock and Fidelity suggests that institutions may be taking profits at this stage. Their movements often serve as a barometer and can easily trigger follow-the-leader behavior.
The large outflow of ETF funds is clearly bearish in the short term. Moving forward, we need to pay attention to future fund flows. If the market stabilizes in the short term, it may just be a temporary profit-taking, and if the market digests this, it could continue to rise. However, if the outflows persist, we need to be wary of a deeper correction.