The market is now obsessively watching outflows from the Ethereum ETF—not because anything new is happening with Ethereum, but because everyone is trying to figure out who will be the first to buckle.
Yesterday, U.S. spot Ethereum ETFs saw another $48.2 million in outflows. By itself, that number doesn’t look like the sky is falling, but sentiment can leak out through that crack.
I’m bearish on this.
Money flowing out of the ETF means the slow money on the sidelines still hasn’t decided to come back. With $ETH having no one stepping in, the whole platform’s sentiment will feel shaky.
And at this very moment, $BTC isn’t holding strong either. The current price is 77,200, down 0.72% over the last 24 hours. It touched the high at 77,900 and then slipped; the low came in at 76,264—like someone pulled the trigger and let go immediately.
What’s even more awkward is that $BTC ’s contracts logged 11.29 billion for the day, while spot volume was only a little over 1 billion. A 11.3x trade ratio is right there, and the funding rate is only slightly back into positive at 0.0062%. People say “be cautious” with their mouths, but they’re still holding contracts to bet on a rebound with their hands.
I’ll admit: if there’s a big buy order coming in tonight, this bearish view could easily get slapped in the face.
But with ETF outflows happening and $BTC positions stacked up to 107,213 coins, if it were me, I’d rather hold back first and not go catch this swinging blade.
Do you think the market is fixating on ETF outflows right now as a form of early reaction—or is it just scaring itself?
$BTC #ETF动态 #BinanceSquare
This post is just my personal thoughts, not investment advice.
Yesterday, U.S. spot Ethereum ETFs saw another $48.2 million in outflows. By itself, that number doesn’t look like the sky is falling, but sentiment can leak out through that crack.
I’m bearish on this.
Money flowing out of the ETF means the slow money on the sidelines still hasn’t decided to come back. With $ETH having no one stepping in, the whole platform’s sentiment will feel shaky.
And at this very moment, $BTC isn’t holding strong either. The current price is 77,200, down 0.72% over the last 24 hours. It touched the high at 77,900 and then slipped; the low came in at 76,264—like someone pulled the trigger and let go immediately.
What’s even more awkward is that $BTC ’s contracts logged 11.29 billion for the day, while spot volume was only a little over 1 billion. A 11.3x trade ratio is right there, and the funding rate is only slightly back into positive at 0.0062%. People say “be cautious” with their mouths, but they’re still holding contracts to bet on a rebound with their hands.
I’ll admit: if there’s a big buy order coming in tonight, this bearish view could easily get slapped in the face.
But with ETF outflows happening and $BTC positions stacked up to 107,213 coins, if it were me, I’d rather hold back first and not go catch this swinging blade.
Do you think the market is fixating on ETF outflows right now as a form of early reaction—or is it just scaring itself?
$BTC #ETF动态 #BinanceSquare
This post is just my personal thoughts, not investment advice.