Jiang Zhuo'er stated that on Friday, Bitcoin spot ETFs experienced a net outflow of $202 million, ending nine consecutive days of net inflows; Ethereum spot ETFs remained strong, with continued net inflows of $102 million. He believes that after this rally, the market contains a large number of bear-market trapped positions and profit-taking demand from bottom-level holders. Whether prices can sustain their elevated levels depends on whether there is sufficient buying pressure to absorb this selling. ETF flows and the Coinbase premium are key indicators for observing capital absorption.
Jiang Zhuoer: BTC Faces First Test Since Rally; Sells 50% of ETH Spot Position
TechFlowShare
Summary
Jiang Zhuoer noted that the BTC price is facing its first test following the recent market rally, with Bitcoin spot ETFs recording a $202 million net outflow on Friday. Ethereum spot ETFs, however, saw $102 million in net inflows. He highlighted that selling pressure from trapped bearish positions and profit-taking could weigh on prices. ETF flows and Coinbase premiums remain key indicators for assessing market absorption.
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