The data for ETH over the past week hasn’t been great. It used to hold its ground against BTC, but this past week has been a complete one-sided crush. I can’t say for sure if capital is starting to flow out of ETH, but it’s clear that the impact of funding volume is significant. On Friday, BlackRock investors directly exited with over 72,000 ETH, and throughout the entire day, U.S. institutions didn’t flow in a single ETH. Four zeros in changes, five in net outflows. We’ve mentioned this many times before: BTC’s rise is mainly due to less selling, while ETH’s rise is driven by more buying. So, when buying volume starts to drop significantly, it’s very unfavorable for ETH’s price trend. In the data from the past 58th week, U.S. investors had a net outflow of nearly 180,000 ETH, whereas in the 57th week, the data showed a net inflow of nearly 270,000 ETH. That’s the gap. Of course, saying that investors have already exited ETH might not be entirely accurate. After all, the main game right now is still between Trump and the Fed. Let’s observe a bit more for now. This post is sponsored by Bitget ｜ @Bitget_zh