The immediate ETF is an indicator of the direction of traditional money sentiments. The flow of funds has been declining recently, indicating that traditional investors are gradually shifting to a wait-and-see stance at high levels. Since 2025, although the price of BTC has been steadily rising, it does not resemble 2024, where it was accompanied by significant purchases. In other words, the stance of traditional money resembles "I don't want to increase the position, and I don't want to sell," and the choice is to continue holding, with sentiments tending towards neutrality and caution.