For the second consecutive day, the data for the $BTC spot ETF has shown a net outflow. Although the outflow amount is not large, it indicates that investors' FOMO (Fear of Missing Out) sentiment is gradually fading. The frequency of price fluctuations is likely to increase, and the main reason for the net outflow is that BlackRock's investors have not seen inflows for the second day in a row. A net outflow of hundreds of Bitcoins will not have much impact on the BTC spot market.

However, as mentioned in the weekly report, the current rise in BTC is not due to strong buying power, but rather a decrease in selling pressure. Therefore, when selling increases and buying power decreases, the price will naturally experience more fluctuations, but it has not reached a level that would change the BTC narrative. The main market dynamics are still focused on tariffs and monetary policy.

Data address: https://docs.google.com/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit?usp=sharing

This article is sponsored by #Bitget ｜ @Bitget_zh

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