Of course, whether the current #Bitcoin price is a good bottom-buy opportunity cannot be judged solely by the market and price; one must also consider sentiment and capital flow, especially at the start of a new week
Of course, whether the current #Bitcoin price is a bottom cannot be judged solely by the market and price; one must also consider sentiment and capital flow, especially at the start of a new week. The sentiment aspect is currently effectively controlled; frozen assets remain frozen, and the impact of unrecoverable assets on the market is still uncertain. At the same time, we need to observe whether the market remains overly tense and worried. #US stocks and gold and silver have simultaneously plunged, causing a divergence in safe-haven capital flows. From the data perspective, the focus is on #BTC ETF data and crypto capital flows. If capital continues to maintain net inflows, it means panic is gradually easing, especially ETF funds. This week's #BTC ETF data shows net inflows from Monday to Friday for four consecutive days, but the net inflow amount increased from Monday to a peak on Wednesday, weakened on Thursday, and on Friday a theft incident caused a large net outflow of funds. Overall, this week’s capital is considered a net outflow of 202.4 million, with IBIT being the main channel for net inflows this week and also the main channel for panic selling on Friday. IBIT alone still maintained a net inflow of 176.9 million this week. Clearly, the risk event early Thursday did cause some panic and net capital outflow in the market. Therefore, to determine if this is the bottom, we need to see if ETF funds turn to net inflows next week with strong return flows. If net outflows continue next week, then short-term effective support has not yet arrived! Crypto market data is recorded here only because the early Thursday risk event caused disruptions in trading, capital flows, and the market capitalization of major stablecoins.
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