Last night, CPI was positive, but the market only had one needle. Why?
Because although Bitcoin spot ETF has continued to flow in these days, unfortunately, these funds are not patient funds, and they only focus on fee arbitrage!
How do they operate? First, buy BTC ETF, and then short CME forward arbitrage 10%, so that basically achieve risk-free returns.
So, don't just look at the data, you have to look at the things behind the numbers, otherwise you will be fooled by Wall Street again.
It should be noted that if ETH passes, it may also cause arbitrage, push up sentiment, raise fees, and lead to more arbitrage. But now the market is not optimistic, and most people think that once the Ethereum spot ETF is passed, they will choose a high position to run away.
