September 11: bitcoin:native spot ETF total holdings dropped to 1,263,697.76 BTC, with a net outflow of 875.40 BTC on the day, marking the third consecutive effective trading day of net outflows. Over the past 7 effective trading days, there’s still a cumulative net inflow of 6,252.66 BTC, and a total increase of 5,698.52 BTC since September. So, the overall trend hasn’t turned negative yet. BTC currently seems to be in a phase of stable high-level holdings, but with weaker new inflows. Total holdings remain above 1.26 million BTC, and the past 7 days still show a net inflow, but the consecutive three-day outflow has eroded much of the earlier gains. If the outflows can continue to narrow and turn positive again, it’s not a big issue. However, if we see another single-day outflow of 2,000–3,000 BTC, the cumulative net inflows over the past 7 days and since September could easily be wiped out. @Gate Crypto, US stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all-in-one trading platform.