Compared to BTC, ETH's data looks slightly better, as it’s still maintaining a net inflow. Of course, the inflow volume is pitifully small. Grayscale and BlackRock have minor inflows, while Fidelity investors seem to prefer chasing highs and cutting losses, making them the main force behind sell-offs. Over the past two days, we’ve seen that traditional investors are selling ETH with much less intensity compared to BTC. Not sure if it’s because of losses making them less willing to sell. Overall, we’re still in a period of unstable macro policies, and the crypto space almost lacks any independent narrative. BTC is still tightly clinging to its correlation with the U.S. stock market, while ETH is holding onto its correlation with BTC. Sponsored by Bitget ｜ @Bitget_zh