The price of $BTC on Tuesday itself was not good, mainly influenced by Powell's speech, so it's understandable that the spot ETF data is also poor. However, during this period, even with bad data, the fluctuations are still around ±2,000 coins, which has a very low impact on the spot market. Only a small number of investors are participating in buying and selling, so the impact is not significant.
For a long time recently, the Bitcoin spot ETF data has been lukewarm, mainly because investors from BlackRock and Fidelity have reduced their purchases. Based on past experience, BlackRock investors tend to focus more on long-term investments, and when purchasing power decreases, it often indicates a pessimistic view of the recent market. Fidelity users, on the other hand, are more inclined to chase highs and cut losses.
Therefore, when the market maintains a long period of volatility, the BTC spot ETF data will not be very good.
This article is sponsored by #Bitget ｜ @Bitget_zh
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