Analyst: Weak institutional demand and intensified pressure from exchange inflows lead to Bitcoin sell-off

On February 19th, cryptocurrency market analyst Axel stated that data from the past week showed weak institutional demand and increased pressure from exchange inflows, putting dual selling pressure on the Bitcoin market. The US spot Bitcoin ETF has had a net outflow of 11042 BTC over the past 7 days, with only two trading days recording net inflows. Among them, on February 12th, there was a single day outflow of 6120 BTC (approximately $416 million), which was the largest outflow day of the cycle. The supply of trading platforms continues to increase, with a net flow range of+391 to+841 BTC in the past week, and today it is+553 BTC, continuing the positive inflow trend for two weeks. Axel pointed out that the flow of ETFs in the next 3 to 5 days will be the key to determining market direction.