Not good, the data for the spot ETF on Friday was quite poor, with outflows exceeding 4,000 $BTC. As we mentioned before, normal data is around plus or minus 2,000 coins. A net outflow exceeding 4,000 coins indicates that investors are not optimistic. However, from a god's-eye view, Bitcoin's price has risen today, which will inevitably lead some momentum traders to continue buying in, so today's data might still turn out to be decent.
From the weekly data perspective, in the most recent 89th week, U.S. investors had a net outflow of over 8,000 BTC, compared to a net inflow of over 7,600 BTC in the 88th week, which is still a significant difference. Overall, the buying sentiment is not very optimistic, and we haven't seen any factors contributing to today's rise. Additionally, there is labor data coming out this week, so we still need to be cautious.
This article is sponsored by #Bitget | @Bitget_zh
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