Market dynamics: the ups and downs of Bitcoin and altcoins

Yesterday, due to the negative impact of the Mentougou compensation incident, Bitcoin (Bitcoin) was attacked by short sellers and fell to around 58,000. However, altcoins have fallen to the bottom and rebounded from oversold levels, successfully driving Bitcoin back above 60,000. However, judging from the trading volume, Bitcoin's rebound is very weak and it is difficult to restore its upward momentum in the short term.

Net inflow of Bitcoin ETF

Yesterday, Bitcoin ETF finally saw a net inflow, although it was only 31 million US dollars, but this is a good sign, indicating that funds in the Western market have begun to move. Everyone knows that this round of bull market was opened by Bitcoin spot ETF to attract external funds, and the current sideways fluctuations are also due to the lack of liquidity caused by the stagnation of subsequent funds in ETFs.

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