Don't be fooled! Bitcoin inflows over six weeks total 3.4 billion, which has nothing to do with trade resolution!

The US spot Bitcoin ETF has experienced net inflows for six consecutive weeks, totaling about 3.4 billion USD. The longest continuous positive inflow cycle in nearly nine months.

BlackRock's IBIT and Fidelity's FBTC, two giants, have absorbed over 60% of the new funds.

Even more eye-catching is—the bullish options positions at the 85K to 85K to 90K levels have hit a new high for the year.

What does this mean?

Big money is betting: the direction is upward, and the momentum is significant.

Meanwhile? US-China trade negotiations have indeed shown signs of easing.

So many people are starting to tell stories: "Look, they’ve reconciled, risk appetite has returned, Bitcoin has risen."

—I advise you not to be naive.

If it’s truly driven by trade negotiations, why did inflows start six weeks ago? Negotiation easing is only in the past two weeks; who was buying in the first four weeks?

Is it possible that the truth is the opposite?

It’s not reconciliation that drove ETF inflows, but ETF inflows that simply didn’t care about reconciliation.

What does six weeks of continuous inflows mean?

It indicates institutional accumulation. Institutional behavior is completely opposite to retail investors—retail chase gains and sell on dips, institutions buy in batches, regularly, and disciplined.

Six weeks straight suggests this isn’t emotional trading; it’s position management.

What does the accumulation of call options at 85K−85K−90K imply?

Big funds buying options aren’t gambling—they’re hedging or leveraging for directional bets. The accumulation at this level hits a new high for the year, indicating professional traders believe there’s still room above, and quite a bit of it.

Trade negotiations are just a distraction.

US-China easing is, of course, good, but what if it’s not? Look at the data from the first four weeks—the negotiations hadn’t even started then, yet money was still flowing in.

It’s not “because of reconciliation, BTC rises,”

but “BTC was already rising, and reconciliation is just an excuse for the bulls to keep telling stories.”

What if tomorrow trade talks take a turn for the worse again?

Tariffs are reinstated?

Negotiations collapse again?

News headlines start scaring people again?

Do you think these six weeks of inflows will stop?

My judgment is: no.

The reason is simple—

Fiat currency depreciation expectations are spreading globally (no matter what the negotiations result in, the printing presses won’t stop).

Bitcoin’s asset allocation attribute is being officially recognized by mainstream institutions.

Trade negotiations mainly affect the pace, not the direction. #Gate广场五月交易分享 $BTC