#比特币ETF资金流入 Recently, the market has been a bit volatile, so we need to stay vigilant. Analysis suggests that Bitcoin’s current market structure is very similar to Q1 2022, with over 25% of supply in loss and very sensitive to macro shocks. However, capital inflow remains positive, which can temporarily support the key support level of the actual market average.

ETF capital inflows have also started to turn negative, spot demand is weakening, and open interest in futures contracts is declining. Overall market sentiment is becoming cautious; everyone is less willing to take risks.

The key is to see whether we can hold the 96K to 106K range. If we can stabilize there, there might still be a chance for a bottoming rebound. But if it breaks below, the downside risk will increase.

Overall, the market is quite fragile right now; more observation is needed before deciding how to act. I think it’s wise to reduce positions to hedge risks and consider re-entering once the market stabilizes. Everyone should also pay attention to risk management and avoid being too passive due to volatility.