I have to say it again. As of today, before the opening of the US stock market, the data for the #BTC spot ETF last Friday may be different from the amount of funds that everyone saw. Yes, I'm talking about the net inflow of GBTC, which is still not available on the official website. Last Friday, Grayscale still had a net outflow of 938 BTC. As for whether these net inflow data are delayed until Monday and mixed with Monday's data, I don't know.

From the current data, although GBTC still maintains outflows, apart from Grayscale, the other twelve ETFs (including three in Hong Kong) only have four with zero flow, and no negative numbers have been seen. Moreover, eight of the spot ETFs are in a net inflow state, with two from Hong Kong. Even the US ETFs, including BlackRock and Fidelity, have rarely seen a seven-day net outflow streak come to an end.

It is worth mentioning that Fidelity had a net inflow of 1,662 BTC last Friday, reaching the highest single-day net inflow in the past month, which is also very remarkable.

Of course, the reason for the net inflow is already very clear to everyone. For two consecutive working days, one was when Powell announced that the unemployment rate reaching 4% would start to consider cutting interest rates, and the next day the unemployment rate rose to 3.9%. The market expects the Fed to cut interest rates at least twice in 2024, which is the main reason for boosting market sentiment.

With the positive net inflow on Friday, the total holdings of the thirteen #Bitcoin spot ETFs have exceeded 522,000 BTC. GBTC still ranks first in terms of proportion, and BlackRock ranks second. The three Hong Kong ETFs also showed a trend of net increase of over 110 BTC on Monday. However, the price of BTC has seen some pullback before the opening of the US stock market, while the three major US stock index futures are still rising. The rest will depend on the trend after the opening of the US stock market.

From the current overall situation, there is still no cold water to pour on the macro data. If investors can still maintain the sentiment of last Friday, today should not be too bad. For those who are not very clear about the macro situation, you can use the trend of the S&P as a reference to understand the current sentiment of the US stock market.

The data has been updated, and the address is: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing

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