Analysis: Bitcoin rebound fragile, SpaceX and Anthropic large-scale IPOs may continue to drain liquidity Odaily Planet Daily News: Bitcoin's recent rebound lacks solid support, unlike when it fell to $60000 in early February. At that time, ETF funds only flowed out of $318 million, but the total weekly trading volume reached $46.15 billion, indicating a panic selling in the market and fierce confrontation between short and long positions. Last week, the situation was different as ETF funds accelerated outflows while trading volumes were low, indicating that the market is experiencing sustained capital outflows rather than atypical local bottom panic liquidation. Therefore, the sustainability of the Bitcoin rebound remains questionable. To push prices back onto a clear upward trajectory, significant growth in ETF demand may be required. However, based on the current situation, this possibility is unlikely as the upcoming IPOs of SpaceX and Anthropic may continue to drain liquidity from the broader market, including the cryptocurrency market. In the short term, Bitcoin still faces structural pressure, with a rebound or weakness, and ETF demand and large-scale IPO dynamics will be key indicators.