#比特币ETF资金流动 Based on the latest data analysis, a conclusion has been drawn: Bitcoin ETF has shifted from accumulation to net selling, and this signal is actually quite critical. After疯狂扫货 at the end of 2024, the market is now selling back 24,000 BTC. This turning point cannot be ignored.

Weak demand is indeed the main reason. The previous three waves of market movement—approval of spot ETFs, election expectations, and the concept of treasury companies—these catalysts' benefits have already been exhausted. The decline in new demand below the long-term trend indicates that the market has digested what it needed to.

Key technical levels have also been broken, with the 365-day moving average, which has historically marked the bull-bear boundary, being breached. This pattern is almost identical to the signals before the 2021 end to 2022 bear market, when addresses holding 100-1000 BTC also experienced a similar stagnation.

What does this mean for us? In this market atmosphere, it’s even more important to seize opportunities in new projects. When demand is weak, it’s actually the best window to participate in new ecosystem interactions and explore new airdrops. Don’t be swayed by overall market sentiment; focus on projects with genuine interaction and real demand. Engage with minimal costs to complete tasks and accumulate, preparing for the next cycle. The bear market is precisely a good time to accumulate chips.