#BTC whale sell pressure weakens, ETF funds have net inflows for three consecutive weeks. Fewer people are selling BTC, but are buyers continuing to add positions?
The weakening of whale sell pressure and three consecutive weeks of ETF net inflows are indeed somewhat positive signals. However, when trading, I care more about the strength of capital inflows, not just the direction.
As of October 2, the US Bitcoin spot ETF had a weekly net inflow of about $241 million, but the previous week saw about $2.386 billion, a nearly 90% shrinkage. The latest data is also volatile: on October 5, there was a net outflow of $89.8 million, on the 6th a net inflow of $118.8 million, totaling about $29 million net inflow in the first two days of this week. The buying is still there, but not as strong as the headlines suggest.
Whales reducing transfers to exchanges can be understood as easing potential sell pressure, but it cannot be directly equated with large holders starting to accumulate. Glassnode's latest weekly report also mentioned that nearly three-quarters of BTC supply is in profit, profit-taking remains active, and the chips above still need capital to absorb them.
My judgment is that the capital situation has improved, but the evidence for a one-sided rally is still insufficient. The focus next is whether ETF inflows can expand again and whether spot buying can hold during pullbacks. Less selling is only the first step; the market will only go far if there are continuously willing buyers.
The weakening of whale sell pressure and three consecutive weeks of ETF net inflows are indeed somewhat positive signals. However, when trading, I care more about the strength of capital inflows, not just the direction.
As of October 2, the US Bitcoin spot ETF had a weekly net inflow of about $241 million, but the previous week saw about $2.386 billion, a nearly 90% shrinkage. The latest data is also volatile: on October 5, there was a net outflow of $89.8 million, on the 6th a net inflow of $118.8 million, totaling about $29 million net inflow in the first two days of this week. The buying is still there, but not as strong as the headlines suggest.
Whales reducing transfers to exchanges can be understood as easing potential sell pressure, but it cannot be directly equated with large holders starting to accumulate. Glassnode's latest weekly report also mentioned that nearly three-quarters of BTC supply is in profit, profit-taking remains active, and the chips above still need capital to absorb them.
My judgment is that the capital situation has improved, but the evidence for a one-sided rally is still insufficient. The focus next is whether ETF inflows can expand again and whether spot buying can hold during pullbacks. Less selling is only the first step; the market will only go far if there are continuously willing buyers.