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Yesterday, when the market did not fluctuate greatly, BlackRock bought 12,000 bitcoins again, with a value of nearly 900 million. This is arbitrage funds, which buy in the spot market and open short positions in the futures market with a premium;

Once arbitrage funds of this scale and level enter the market, it means that the market is at the end stage, so what everyone actually sees is that when the ETF funds flow in in large amounts, it is the top, and when the ETF funds flow out in large amounts, it is the bottom;

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