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$BTC Continue to go long. Yesterday, spot ETFs again siphoned funds, with total net inflows of more than $200 million. BlackRock’s IBIT is still the absolute main force—one single fund put in more than $160 million, and Fidelity and ARKB also joined in. Institutional capital is still continuously buying; this level may still have room to move higher. But if you chase the price higher, be mindful of the risks—don’t overfill your position, and watch for how the subsequent funding baton gets passed.