BIT: Significant outflows from ETFs suggest Bitcoin may continue to consolidate in the short term.

According to Huoxun Finance, BIT released a chart pointing out that the core of asset price analysis lies in identifying the key factors driving price movements and the turning points. Bitcoin's recent sustained rise is mainly driven by the ebb and flow of institutional demand and market supply. Over the past year, Bitcoin ETFs and Strategy have been the core demand drivers, with Bitcoin prices generally rising in tandem when their net buying accelerated. Currently, their combined net buying amount is only $870 million. Due to significant outflows from ETFs turning into net selling, Bitcoin may maintain a consolidation phase in the short term until ETF inflows stabilize and rebound.