As mentioned earlier with the ETH data, BTC's data is slightly worse. The data from Monday has ended the net inflow of the previous five consecutive working days, turning into a net outflow. Although not much, a total of 3,306 #BTC has flowed out from twelve spot ETF funds in the US, including 5,545 BTC from Fidelity, Bitwise, and ARK, as well as over 700 from Grayscale's GBTC. This data shows that some ETF investors are beginning to exit.
Although it is unknown whether this group of investors is making a profit or a loss, it can be seen that some investors have indeed started to panic sell due to the price drop, but BlackRock continues to buy, which is much stronger than #ETH. However, BlackRock's purchasing power is also gradually declining, mainly because the recent narratives have started to decrease, all revolving around $MSTR, and the drop in MSTR's price has also caused some investors to panic.
These two are currently complementary. Some friends say that the shorting is on MSTR, not BTC, and instead, they are going long on BTC. This rational response is correct, but for more ordinary investors, they will think that when MSTR falls to a certain extent, it will be unable to repay the 'loan', thus needing to sell BTC to pay off debts.
This is true, recently a large number of friends have been asking me about the exhausting issues, after all, there are still few who understand economics, and most people still act according to their own ideas, so when MSTR falls, some friends will panic and exit the market. This is especially evident from the ETF data.
But this is just a small part of the investors, and the proportion can be ignored. More investors are not choosing to sell but are in a wait-and-see attitude. This also aligns with the previous analysis results on the data.
Data has been updated, address: https://docs.google.com/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit?usp=sharing
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