#比特币ETF资金流动 Bitcoin ETFs have started net selling again, with a reduction of 24,000 BTC in the December fourth quarter, which is completely opposite to the frenzied buying spree from the same period last year.
To be honest, seeing this data is quite interesting. Weak demand is actually something that could be felt early on. Looking back, from the approval of spot ETFs, election results, to the Bitcoin Treasury Company wave, these three surges basically consumed most of the new demand. Now even the 365-day moving average has been broken, which historically is usually a signal of the bull-bear dividing line.
What's more sobering is that the growth of addresses holding 100-1,000 BTC has also slowed down. These players are mainly ETFs and Treasury companies, and their behavior often represents the true intentions of big money. We saw the same pattern at the end of 2021 and before the 2022 bear market arrived.
It's like inflating a balloon—it was fun blowing it up in the previous waves, but now there's no new wind, so the balloon is starting to deflate. In the short term, there might be some more volatility, but this signal definitely deserves attention.
#比特币ETF资金流动 Bitcoin ETFs have started net selling again, with a reduction of 24,000 BTC in the December fourth quarter, which is completely opposite to the frenzied buying spree from the same period last year.
To be honest, seeing this data is quite interesting. Weak demand is actually something that could be felt early on. Looking back, from the approval of spot ETFs, election results, to the Bitcoin Treasury Company wave, these three surges basically consumed most of the new demand. Now even the 365-day moving average has been broken, which historically is usually a signal of the bull-bear dividing line.
What's more sobering is that the growth of addresses holding 100-1,000 BTC has also slowed down. These players are mainly ETFs and Treasury companies, and their behavior often represents the true intentions of big money. We saw the same pattern at the end of 2021 and before the 2022 bear market arrived.
It's like inflating a balloon—it was fun blowing it up in the previous waves, but now there's no new wind, so the balloon is starting to deflate. In the short term, there might be some more volatility, but this signal definitely deserves attention.