US spot Bitcoin ETFs had a net inflow of approximately $280 million on May 6

Grayscale GBTC increased its holdings by 979 bitcoins, worth approximately $62.14 million, and currently holds a total of 292,218 BTC, worth approximately $18.55 billion;

Fidelity increased its holdings by 1,574 bitcoins, worth approximately $99.92 million, and currently holds a total of 152,815 bitcoins, worth approximately $9.7 billion; 9 Bitcoin ETFs increased their holdings by a total of 4,412 bitcoins, worth approximately $280 million.

With continuous net inflows, it may be difficult for the price to return to around 60,000, as if it would only take a few days to reach 70,000.

But from a technical perspective, although the pull-up is very fierce, I always maintain that it is unlikely to go directly to 70,000. The current 12-hour and daily trend has obviously weakened at 65,500. I still insist that 65,500 is a short-term high. The gap near 6 will still be filled.