On Wednesday, under the expectation of an interest rate cut by the Federal Reserve, the performance of the $BTC spot ETF improved slightly, but just slightly. This was mainly due to BlackRock investors purchasing over 2,000 Bitcoins, while other institutional data can be disregarded. Today, there were also some reports indicating that the fund volume for cryptocurrency ETFs has started to grow, but at least so far, the extent of this growth is still insufficient to impact spot prices.

Tech stocks remain the best barometer for BTC. When BTC lacks an independent narrative, it is indeed difficult to attract larger funds, which reflects the current overall situation in the cryptocurrency market. The main reason AI has been able to advance rapidly is that it has consistently been driven by earnings reports and narratives.

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