Although the data for $ETH is not very good, it is still much better compared to $BTC. Firstly, there is a positive inflow, and secondly, BlackRock's investors are reducing their holdings in BTC but are continuing to increase their holdings in ETH. The increase in ETH holdings ranks second for the day, with Fidelity ranking first. This indicates that Fidelity's investors prefer to chase after price increases and decreases, but ETH's purchasing power has consistently remained strong.

Even so, the weekly data for ETH is not good enough. In week 56, the first three trading days showed a net outflow, with only Thursday and Friday showing a net inflow. The total for the week also showed a net outflow of over 100,000 ETH, while in week 55, the net inflow exceeded 600,000 ETH.

Therefore, although ETH's purchasing power surpasses that of BTC, the total purchasing power for the week is still significantly lower compared to the previous week. The main reason for this week's decline is the concern over interest rate cuts in September and the downturn in the U.S. economy, which has not shown any significant relief so far.

This article is sponsored by #Bitget ｜ @Bitget_zh

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