On the weekend, dig out the screenshots from the days last year when I did the $ETH spot ETF. That’s when I realized the market’s best move is: the news clearly changes, but the price action pretends it didn’t see anything.
This time, the US spot Ethereum ETF saw a single-day net inflow of $72.76 million. It’s not explosively large, but the flavor is different.
Old players all remember that when ETFs first came out, they were easiest to pull off one classic line: “good news,” and then the momentum would burn out after three days.
But this time, $BTC didn’t catch the fever. The spot still drifted around the 65,641 area, and in the last 24 hours it’s still down. The difference between the day’s high and low is only a bit over $800—like someone shut the door and wouldn’t let it run around.
I just stared at the K-line for 10 minutes and I feel the capital is really tangled up right now.
On one side, the $ETH ETF still has net inflows, which suggests the money outside the market hasn’t completely dispersed.
On the other side, the $BTC contract traded $7.9 billion, while the spot was only $1.16 billion—6.8x. You can basically tell from that number that within the market people are still using leverage to probe each other. And honestly, there aren’t that many who truly want to go all-in and smash it.
Not to mention the funding rate is still negative, at -0.0008%. The shorts aren’t at an extreme, and the longs aren’t that forceful either.
This kind of chart is the most annoying: the news is warm, but the price is cold. If you move too fast, you’ll easily end up chasing somewhere halfway up the hill.
For my part, I’m going to treat this as a sentiment repair first, not as a full-on “go all the way” situation.
If you want me to act, I’d rather wait for $BTC to first reclaim above 66,424, then see whether that ETF money can bring the market atmosphere along.
If it can’t even get the intraday highs back, I really can’t go in hard relying only on a single net inflow headline.
You tell me—are ETF funds slowly coming in to pick people up, or does the market fundamentally not believe that spark yet?
$BTC #ETF动态 #BinanceSquare
Don’t go all-in. If you lose money, don’t blame me.
This time, the US spot Ethereum ETF saw a single-day net inflow of $72.76 million. It’s not explosively large, but the flavor is different.
Old players all remember that when ETFs first came out, they were easiest to pull off one classic line: “good news,” and then the momentum would burn out after three days.
But this time, $BTC didn’t catch the fever. The spot still drifted around the 65,641 area, and in the last 24 hours it’s still down. The difference between the day’s high and low is only a bit over $800—like someone shut the door and wouldn’t let it run around.
I just stared at the K-line for 10 minutes and I feel the capital is really tangled up right now.
On one side, the $ETH ETF still has net inflows, which suggests the money outside the market hasn’t completely dispersed.
On the other side, the $BTC contract traded $7.9 billion, while the spot was only $1.16 billion—6.8x. You can basically tell from that number that within the market people are still using leverage to probe each other. And honestly, there aren’t that many who truly want to go all-in and smash it.
Not to mention the funding rate is still negative, at -0.0008%. The shorts aren’t at an extreme, and the longs aren’t that forceful either.
This kind of chart is the most annoying: the news is warm, but the price is cold. If you move too fast, you’ll easily end up chasing somewhere halfway up the hill.
For my part, I’m going to treat this as a sentiment repair first, not as a full-on “go all the way” situation.
If you want me to act, I’d rather wait for $BTC to first reclaim above 66,424, then see whether that ETF money can bring the market atmosphere along.
If it can’t even get the intraday highs back, I really can’t go in hard relying only on a single net inflow headline.
You tell me—are ETF funds slowly coming in to pick people up, or does the market fundamentally not believe that spark yet?
$BTC #ETF动态 #BinanceSquare
Don’t go all-in. If you lose money, don’t blame me.