Digital asset funds recorded a net inflow of $2.17 billion over the past week, with Bitcoin leading the charge. Ethereum, Solana, and other mainstream tokens also performed strongly. However, market sentiment has cooled in recent trading days.

Bitcoin, amid escalating US-EU trade tensions, fell below the $92,500 level. The risk of a trade war triggered risk aversion in the market, leading to a large-scale liquidation of contract positions. Leverage traders in the market are under significant pressure—at a time when sentiment is already fragile, this wave of selling pressure further accelerated the downward trend.

Although capital inflows continue, macro uncertainties are eroding short-term bullish expectations. Investors need to closely monitor policy developments and on-chain data changes.