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Spot ETF is a barometer for observing the sentiment of traditional funds. The recent inflow has continued to decrease, indicating that traditional investors are gradually adopting a wait-and-see attitude at high levels.
Since 2025, although the price of Bitcoin has been continuously rising, it has not been accompanied by large-scale purchases like in 2024.
In other words, the attitude of traditional funds is more like "not wanting to increase positions, nor wanting to sell," choosing to continue holding, with a neutral and cautious sentiment.
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