Traditional investors seem to be feeling increasingly panicked. On Thursday, BTC spot ETFs saw another significant sell-off. BlackRock continues to lead the charge, while Fidelity also recorded four-digit sales. It's clear that as Bitcoin's price drops, short-term investors' panic sentiment is rising. Fixing this situation might take some time. Although the sell-off volume is increasing, the number of investors choosing to sell is still relatively small. On Thursday, all U.S. institutions sold less than 4,700 BTC, which is still minor compared to the over 1.332 million BTC in reserves. Of course, if liquidity doesn't recover next week and investor sentiment doesn't improve, the downward trend might intensify. Bitget VIP—lower fees, bigger perks.