How many messages today are worth putting together to read.
1️⃣CZ indicates that “hot money” is withdrawing from the AI sector and re-entering cryptocurrencies;
2️⃣SEC Chair Atkins expects the CLARITY Act to pass in the Senate on September 15, calling it a key step for the U.S. to become the global hub of crypto.
The narratives on both the policy front and the capital front are aligned: cautiously optimistic.
But internal divergence in the market is widening.
According to ETF data, <a>$BTC </a> saw a net outflow of $241 million today, marking the first time it has turned negative in recent days. Spot BTC demand has entered an “absolute shortage” state—futures demand is keeping total demand positive, but if spot demand remains negative, the upward momentum will fade. This is the risk point BTC needs to face head-on right now, and it shouldn’t be obscured by policy tailwinds. (Figure 1, Figure 2)
<a>$ETH </a> shows the exact opposite:
ETF net inflow today was $17.91 million, with a 7-day cumulative inflow of $521 million. And after price broke through the accumulated address and established $2,256, it has held that level. This suggests that this price is turning into real support rather than resistance. (Figure 3)
The macro backdrop (30-year yields staying above 5% for 56 straight trading days, and non-farm data remaining weak) is still a suppressing factor that can’t be ignored. But even within this macro environment, ETH’s capital flows can still remain net inflows—this, by itself, reflects relative strength.
My view: Over the past few days, the divergence between BTC and ETH has become even clearer. ETH’s capital structure and technical position are cleaner.
#Solana跌逾3%
#沙特称伊朗在霍尔木兹袭击其船只
#科威特防空系统回应伊朗无人机袭击
1️⃣CZ indicates that “hot money” is withdrawing from the AI sector and re-entering cryptocurrencies;
2️⃣SEC Chair Atkins expects the CLARITY Act to pass in the Senate on September 15, calling it a key step for the U.S. to become the global hub of crypto.
The narratives on both the policy front and the capital front are aligned: cautiously optimistic.
But internal divergence in the market is widening.
According to ETF data, <a>$BTC </a> saw a net outflow of $241 million today, marking the first time it has turned negative in recent days. Spot BTC demand has entered an “absolute shortage” state—futures demand is keeping total demand positive, but if spot demand remains negative, the upward momentum will fade. This is the risk point BTC needs to face head-on right now, and it shouldn’t be obscured by policy tailwinds. (Figure 1, Figure 2)
<a>$ETH </a> shows the exact opposite:
ETF net inflow today was $17.91 million, with a 7-day cumulative inflow of $521 million. And after price broke through the accumulated address and established $2,256, it has held that level. This suggests that this price is turning into real support rather than resistance. (Figure 3)
The macro backdrop (30-year yields staying above 5% for 56 straight trading days, and non-farm data remaining weak) is still a suppressing factor that can’t be ignored. But even within this macro environment, ETH’s capital flows can still remain net inflows—this, by itself, reflects relative strength.
My view: Over the past few days, the divergence between BTC and ETH has become even clearer. ETH’s capital structure and technical position are cleaner.
#Solana跌逾3%
#沙特称伊朗在霍尔木兹袭击其船只
#科威特防空系统回应伊朗无人机袭击
