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BTC has pulled back, but has the capital really exited?
BTC has dropped back near $77,000, and market sentiment has clearly cooled.
But one detail is worth noting:
While BTC ETF has recently seen net outflows, ETH ETF has maintained inflows for several consecutive days.
So I think it’s too simple to interpret this as "institutions starting to retreat."
It’s more like the market is undergoing a capital rotation.
BTC had a relatively large gain earlier, so profit-taking is normal.
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