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It's here!! It's here!!! Latest institutional fund movements!!! August 10 (US market Monday) BTC spot ETF amounts Total net outflow across the market: -$62.7 million Breakdown of major products IBIT (BlackRock): -$41.3 million (main force redemption occurred) GBTC (Grayscale): -$22.4 million FBTC (Fidelity): +$13.8 million (still maintaining inflows, clear divergence) Other small and medium ETFs combined: -$12.8 million Compared to the continuous large inflows from August 8-10, it turned into a slight net outflow of -$62.7 million, indicating momentum exhaustion but not a catastrophic large-scale exit. Leading IBIT saw significant redemptions; however, FBTC still had slight inflows; small and medium ETFs had mixed inflows and outflows. This indicates that the entire market's institutions are not uniformly bearish; some hedge funds and short-term trading funds are taking profits and withdrawing; ⚠️Key point: Single-day net outflow ≠ complete trend reversal. It just interrupts the previous continuous accumulation rhythm. Analysis: The market is highly anticipating the US CPI inflation data on August 12. Institutions choose to reduce positions in advance to avoid the black swan risk of CPI exceeding expectations: if CPI is higher than expected, it will further suppress rate cut expectations, and BTC will face greater pressure. Some funds choose to "hedge first, then make decisions after the data is released," resulting in ETF redemptions. The breakdown of US-Iran easing expectations caused a violent surge in oil prices, with WTI surpassing $80, and the market repriced inflation rebound risks. Oil price surge → market worries about CPI inflation rising again; this puts pressure on BTC prices. If continuous outflows persist for 2-3 trading days afterward: it means this round of institutional inflow phase is temporarily over, and BTC will face greater selling pressure. #本周三CPI公布，9月加息定价会改写吗？ #现货ETF资金分化，BTC卖压仍在 $BTC $ETH #霍尔木兹海峡通航协议未落地，油价风险升温