#比特币价格走势 Seeing a net inflow of $864 million into digital assets this week, marking three consecutive weeks of moderate inflows, I need to pour some cold water—don’t be fooled by this number.

Careful examination of the data structure shows that one U.S. entity accounts for $796 million. What does this indicate? Institutions are positioning themselves, but the logic behind their layout needs to be understood. Bitcoin absorbed $522 million, with only $27.7 billion this year, compared to $41 billion in the same period in 2024. This isn’t growth; it’s contraction. The market is weakening after rate cuts, and such divergence patterns are the easiest to fall into traps.

Shorts on Bitcoin have seen outflows of 1.8 million for two consecutive weeks, seeming like a sentiment correction, but don’t be fooled by this small number—it’s the outflow from shorting products, not an indication that the market is risk-free. It only shows that those betting against the market are decreasing. Ethereum’s 149% growth looks tempting, and Solana’s tenfold increase is even more enticing, but what stage are these projects in? Are they new hotspots or is the relay race about to finish?

I’ve seen too many people follow the trend when institutions are positioning, only to become the last bag-holder. These inflows are real, but reality doesn’t mean safety. The key question is: can you identify which funds are strategic layouts and which are just unloading?

Without an answer, just observe first—don’t rush to jump in.