Although the data for Bitcoin and Ether was poor yesterday, both saw net outflows, the amount of funds flowing out of Ether was only one-third of that of Bitcoin. When sentiment is bad, investors tend to sell more Bitcoin. I wonder if it's because more Ether is trapped, and investors don't want to sell.

BlackRock's investors remain the largest sellers, and their reductions still exceed the total reductions of all other institutions combined. Traditional investors' attitudes towards cryptocurrencies are gradually waning, and there has already been a shift of funds to US stocks. After a short-term rebound, we should focus on the weekly candlestick chart; ideally, we want to see it recover above the key level of 112,000. Otherwise, the likelihood of it retracing back to the key level of 105,000 will increase. Today's spot ETF has net outflows, while large on-chain whales are buying heavily, and all positions are held firmly.