In the past week, the data for ETFs has indeed been good, with a noticeable increase in purchasing power exceeding the average. During this week, investors bought a total of 26,456 $BTC, while the previous week saw a net outflow of 8,139 coins. Moreover, not only did the primary market data rise, but even the trading volume in the secondary market showed an upward trend, contrasting sharply with the weakness observed in the previous two weeks.

However, I still maintain that the increase in BTC purchasing power is not due to favorable conditions for Bitcoin itself, but rather riding the coattails of the U.S. stock market. Therefore, it remains highly correlated with the U.S. stock market and American macro sentiment, and does not necessarily mean that the current increase in purchasing power will continue. The key factor remains the Federal Reserve's monetary policy.

This article is sponsored by #Bitget ｜ @Bitget_zh

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