【In-Depth】California Senate passes bill to ban memecoin issuance by public officials

From an institutional perspective, a deep breakdown.

Policy interpretation: Regulatory moves can amplify volatility in the short term, but what truly determines the direction is where the money flows after the policy is implemented. ETF net inflows, net trading volume on exchanges, and large on-chain transfers—these three indicators reflect institutional sentiment earlier than the news headline. In one sentence: policy news drives volatility, not trend; the trend is determined by capital flows and the structure of positioning.

The above is a data interpretation and does not constitute investment advice.

In the face of data, are you a warrior or a chump? Share your position in the comments.

$BTC #行业观察 #资金流向 #News Depth