This year, there has been a record growth of new large wallets with balances of 1000+ BTC. As we can see, the accumulation stage is underway globally, with institutional investors actively participating.

Financial giant BlackRock has achieved the status of a leading player in the market in just six months - two crypto ETFs control the largest volume of digital currencies in the world in the spot exchange-traded crypto funds market.

So far, BTC is trading below the 200-day SMA, which formally indicates bearish sentiment. The nearest support level is the 365-day simple moving average ($50,000). Tens of thousands of new bitcoins from US government crypto wallets may be dumped onto the market in the near future. Therefore, the market will certainly feel the negative impact of such operations.

The Altcoin Season Index is falling and has reached 20. Last week, the net outflow from spot Ethereum ETFs was $14.16 million. The largest outflow so far was observed from the Grayscale ETF - $118 million. At the same time, the BlackRock ETF saw an inflow of $76.35 million. In total, since the launch of the Ethereum ETF, the total outflow was $420 million. We are waiting for the end of the sale of Grayscale funds...