Today, we first look at capital inflows, but it's still too early to hastily judge a reversal. BTC spot and futures are synchronously flowing in short-term, ETH leverage funds are replenishing more noticeably, while SOL is supported by spot but futures are still retreating.
BTC spot net inflow in 4 hours is $111 million, futures net inflow is $36.18 million. Extending to 24 hours, spot net inflow is $179 million, but futures net outflow is $92.74 million. The 30-day futures net outflow has expanded to $7.83 billion, indicating short-term buying has returned, but mid-term deleveraging is not yet over.
ETH spot net inflow in 4 hours is $51.64 million, futures net inflow is $221 million. In 24 hours, spot net inflow is $87.02 million, futures net inflow is $185 million. However, 30-day spot net outflow is $3.77 billion, futures net outflow is $8.29 billion. Short-term replenishment is stronger than BTC, but mid-term capital structure remains weak.
SOL spot net inflow in 4 hours is $8.66 million, futures net inflow is $4.53 million. In 24 hours, spot net inflow is $23.7 million, but futures net outflow is $58.94 million. The 30-day futures cumulative net outflow is $2.17 billion, indicating spot buyers are present, but leverage funds remain cautious about the rebound.
BTC short-term funds are flowing back, ETH futures funds are rushing in, and SOL spot support is most obvious. It currently looks more like capital replenishment after continuous retreat, not a trend reversal yet. Continue to watch if the rebound can bring sustained incremental volume; otherwise, there is still a risk of pullback after a rally.
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