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$BTC Spot capital flows haven't fully caught up, and being able to stabilize near $60k is mainly due to the weakening US dollar and short covering.
BTC ETFs sold 71,600 BTC this month, approximately $4 billion.
Corporate treasury companies only bought 7,500 BTC, and combined with new supply from miners, the net shortfall is -77,000 BTC, approximately $4.4 billion.
For BTC lacking spot appeal, it's still hard to say whether it can continue to stabilize at $60k.