Through the data fog, what I still see is the bullish bottom color
Last night, Bitcoin ETF saw a net outflow of $188.6 million, and Ethereum ETF had a net outflow of $95.5 million. The data is cold, and the market is panicking. But as a trader who digs deep into on-chain data every day, I want to tell you: this is precisely the necessary stage for the market to shake off weak hands.
Short-term emotions matter, but long-term views rely on on-chain data
There has been no panic selling from large on-chain holders, and whales are still silently accumulating.
The Bitcoin inventory on exchanges has been declining for three consecutive weeks, and the selling pressure actually comes from short-term speculators, not long-term believers.
The Ethereum 2.0 staking rate continues to rise, and institutions are quietly laying out the next round of infrastructure amid pessimistic voices.
My judgment: pullbacks are opportunities
Behind the outflow of ETF funds is tactical reallocation by some institutions, rather than strategic withdrawals. The fundamentals of the crypto market have never been so solid: the narrative of Bitcoin's halving has not changed, the Ethereum Layer 2 ecosystem is about to explode, and giants like BlackRock and Fidelity have not touched their long-term holdings.
Remember: bull markets are always born in despair and grow in doubt. I still hold my core position and may even add in batches at key support levels. The market has always rewarded those who are clear-headed, not followers.
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