On May 10th, the market heat was summarized|ETH was full, and BTC funds took the lead 1/ ETH ecological logic detonated The founder of 1confirmation declared that "ETH will flip BTC", focusing on the ecological expansion of the use case, but the reality is that the ETF has a net outflow of $38.2 million, and the giant whales on the chain have left the market with large losses 2/ BTC responds with strength This week, ETFs had a net inflow of $920 million, an increase of 20,000 BTC in 48 hours, and a net outflow of more than 6,000 CEXs 3/ Market sentiment is fragmented ETH shouted the narrative, TRUMP fried the dinner, MIRAI returned the excess after grabbing the money, the FOMO on the emotional side was high, but the fundamentals have not fully kept up 4/ Risk and opportunity coexist The bearish whale increased its shorting of BTC/ETH, and TRUMP sent another 3.5 million to CEX to replenish liquidity, and even the Meme sector fluctuated violently epilogue Hot spots are not equal to trends, and narrative is not equal to turns. The capital trend is the hard logic, and the operation rhythm needs to be stable and progressive.