Starting Monday, BTC's price began to decline, so the sell-off of spot ETFs is quite normal. However, data shows that the majority of outflows are still primarily from BlackRock investors. The outflow hasn't exceeded 1,800 Bitcoins, and in the short term, it hasn't caused panic among investors. Most investors are still maintaining a calm attitude. Of course, from a bird's-eye view, we already know that on Tuesday, BlackRock investors started selling more aggressively. This is mainly due to the government shutdown reaching a historic high, causing investors to worry about systemic risks. As a result, they shifted to holding USD and U.S. Treasury bonds, selling off risk assets—even gold. This situation will likely only be resolved after the shutdown ends. Sponsored by @Bitget｜Save the most on fees, claim the best rewards, and become a VIP at Bitget.