Today let's talk about the news. BTC experienced a significant drop last night, with a net outflow of $438 million from the spot ETF. BlackRock continues to buy, but it is difficult to resist the large-scale sell-off from other institutions. From past rounds of slight pullbacks, it can be seen that other institutions always sell during declines and buy back during subsequent surges. In contrast, BlackRock's investment strategy appears to be more stable and can also serve as a barometer.
The news also indicates that the Federal Reserve may cut interest rates in December, and the new Treasury Secretary candidate proposed reducing federal spending. There has been no significant change in the sentiment surrounding the election, all of which are not unfavorable factors for Bitcoin's price. Currently, market sentiment may be weak, and FOMO enthusiasm is declining.
At the same time, Grayscale's trust fund is also selling, but the spot ETF has received 420,000. Given the current market situation, although experiencing fluctuations, the trend of a bull market is still optimistic, and it is highly probable that BTC's price will exceed $100,000.
