This time #BTC触及80000美元 , ETFs are also synchronously flowing in. In the last 5 settled trading days, total net inflow is about $1.96B. This is enough to show that the buy-side quality of this rebound is clearly better than what you’d get from simply propping up with futures. However, given the current pace of the rise, it’s not advisable to translate ETF inflows directly into the expectation of no near-term pullback. The stronger the ETF inflows, the more likely they are to attract short-term leverage follow-through, and volatility later on may also be higher.

Keep a close eye on the daily flows of IBIT and FBTC, and also watch the $BTC spot trading. If ETF inflows continue but spot trading activity shrinks, then you need to guard against funds being front-run by the contracts. The key is whether the price can keep rising under ongoing selling pressure.