34k BTC selling pressure hangs overhead, ETF funds are still withdrawing, how long can this 77k hold steady?

BlockBeats reports that Axel Adler Jr. pointed out that although BTC has once again risen above approximately $77,000, exchange net inflows are about 18,000 BTC, spot ETF net outflows are about 16,000 BTC, totaling approximately 34,000 BTC of potential selling pressure. The daily trading volume of spot ETFs has dropped below $20 billion, indicating a cooling of traditional financial speculative demand; however, due to the prospects of peace between the US and Iran, market sentiment has improved, and BTC has short-term rebounded to around $77,800. Derivatives data shows that this round of rally is driven by short covering, with open interest and funding rates both cooling down; to push past $80,000, spot demand and open interest need to grow simultaneously.