📉 Citibank's latest report pointed out that the overall crypto market has been weak since the launch of the Ethereum spot ETF in the United States on July 23. Bitcoin and Ethereum spot ETFs have seen net outflows in the past month, with a significant decline in demand, low search interest and network activity. Futures funding rates turned negative in August.

🌐 Citi analyst David Glass said that ETF fund flows may continue to be sluggish until the US economic outlook becomes clear. However, the stablecoin market has grown against the trend, and supply has continued to rise during the market adjustment in August, reflecting the complexity of the crypto market and the differentiated attitudes of investors.

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