Jiang Zhuoer wrote that on Friday, Bitcoin spot ETF net outflows amounted to $202 million, ending a streak of nine consecutive days of net inflows. Meanwhile, Ethereum spot ETFs remain strong, with continued net inflows of $102 million. He believes that after this round of sharp gains, the market has a large number of bearish trapped positions and profit-taking sell orders from the bottom. Whether prices can hold at high levels depends on whether there is enough buy-side capital to absorb supply, and ETF flows and the Coinbase premium are key indicators to watch in assessing capital follow-through.
Jiang Zhuoer added that Fed Chair Waller’s relatively hawkish remarks have a major impact on the market, causing key Friday ETF data to turn negative and further weakening the weekend outlook. Currently $BTC
is facing its first test since the rally began; a drop early in the morning may signal the start of a broader downtrend. He has sold 50% of his $ETH spot holdings during the decline and will continue to monitor weekend price action.
Jiang Zhuoer added that Fed Chair Waller’s relatively hawkish remarks have a major impact on the market, causing key Friday ETF data to turn negative and further weakening the weekend outlook. Currently $BTC
is facing its first test since the rally began; a drop early in the morning may signal the start of a broader downtrend. He has sold 50% of his $ETH spot holdings during the decline and will continue to monitor weekend price action.