#Bitcoin Turnover of funds—IBIT is still the backbone of ETF fund flows!

In Thursday’s ETF data update, the market returned to a net outflow position. The single-day net inflow was 102.7 million, of which IBTI accounted for a single-day net inflow of 195.6 million. The combined net outflow of the other ETF institutions was 92.9 million.

From this data, it’s clear that Thursday’s market did not fully return to an optimistic tone. Instead, IBIT became the backbone that supported the market’s fund flows, once again breaking the single-day net inflow seen on Wednesday and reverting to a net inflow state.

If ETF fund inflows continue to remain in net positive territory, it would mean that Wednesday’s net outflow was a one-off turnover of funds. In the current phase, the market can be considered to be in a strong net inflow period for institutional users.

Next, if Friday’s ETF data shows strong net inflows of between 200–300 million, and the institutional net inflows broaden from IBIT, it will further verify institutional users’ net inflow trend. Wednesday would then be confirmed as a period of funds switching hands.

Cryptocurrency market data compared with October 1:

In terms of share, #BTC has the dominant share of growth, meaning the current sentiment in the crypto market is still in a cautious phase.

With trading volume increasing, today’s price rise still came with plenty of turnover. The difficulty of breaking out of the short-term consolidation range remains high. It needs to digest enough sell pressure before a sustainable move upward can be discussed.

As for funds: the total increased by 1.3 billion. Mainstream USDT recorded a net inflow of 234 million, while USDC saw a net outflow of 139 million. Traders in the US region are not optimistic. Also note that this week, stablecoin trading volume increased significantly—clearly turnover of funds has been frequent.

Phase summary:

At present, US-region capital confidence is still lacking. The ETF is mainly supported by IBIT, but crypto funds still show net outflows. Given the uncertainty in both macro conditions and the market, traders in the US region obviously lack confidence, resulting in frequent turnover.

Next up is Friday’s ETF data. If net inflows break above 200 million in a single day, market confidence will return. If it stays below 200 million— or even below 100 million—the difficulty for the market to break out of the short-term consolidation range remains quite high! #比特币资金费率升至10%未平仓合约回升