The weekend data did not change much, so we will not sort out the overall data. Let's take a simple look at the funds:
First, the on-site funds increased by 200 million, while the off-site funds, Asian funds decreased by about 100 million liquidity funds compared with Friday, and the US continued to have a net outflow, but the magnitude was less than 10 million US dollars, which basically belonged to the state of suspended liquidity.
The increase in on-site funds is not difficult to understand. In the absence of external inflows, the funds that appear after the on-site transaction will be temporarily retained in the market, which is understandable and not representative.
The volatility of Asian funds from Friday to today is large, with large inflows and obvious outflows. Moreover, according to the situation this week, the inflow of Asian funds is not low, but only 100 million outflows, which does not have risk factors.
And the US funds are still net outflows, even if the net outflow has been reduced to less than 10 million, which is basically a net outflow for a week since Monday this week, and it is also the first time that Bitcoin has maintained a single-week net outflow since it was launched in October last year.
Although this ETF has changed the fundamentals of Bitcoin, it has also made Bitcoin's price drivers unilaterally dependent on US traders. Therefore, the outflow of funds from US traders also represents a decline in investment willingness, which does bring certain difficulties to Bitcoin's price rebound.
Personally, I expect that the Eurasian market will exchange hands with traders in the US market from the callback. Once the price of Bitcoin is no longer completely dependent on the US market, it will be the era of global capital liquidity. The current situation is obviously that US traders are not driving it, and the Eurasian market is insufficient to take over.
