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Regarding ETFs, last week saw a net inflow of $449 million in spot ETFs with a total of $16,658,774,972, and a net inflow of $62.73 million in spot ETFs with a total of $55,792,218,752.

The total amount staked on the Beacon Chain has reached 34,213,997 ETH, with staked ETH accounting for 27.9% of the total supply. Among this, the liquid staking protocol Lido holds a staking share of 28.36%. Additionally, since the Shanghai upgrade, there has been a net inflow of 16,047,943 ETH.

On-chain, the distribution by long-term holders has exceeded the levels seen in March of this year, and it is highly probable that long-term holders will continue to distribute in the future, which could lead to a turning point in the market between bull and bear trends.

In terms of market conditions, BTC is testing a small level again; if this level holds, it could lead to larger movements. In the short term, there are no conditions for a significant drop, and the probability of a rebound this week is high. There remains significant pressure above $100,000, and the likelihood of BTC reaching a new high and starting a rally is low, with a high probability of consolidation in the short term. The market movements after the U.S. stock market opens tonight will be crucial, as they can indicate the flow of ETF funds, which significantly influences BTC's short-term trend. If there is a noticeable outflow of funds from ETFs, the probability of the market continuing to weaken will increase, and if the situation worsens, it may look for support around $80,000.

ETH is correlated, and the exchange rate still does not clarify the bottom, but there is a possibility that funds will flow from BTC to ETH in the future, so patience is required.

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