#以太坊生态发展 When I saw this news, I suddenly remembered a lesson from a few years ago. At that time, I also followed the trend of chasing institutional "bottom fishing" signals, but as soon as I got in, the institutional chips started to loosen gradually.

Looking back now at the continuous net outflows from the Ethereum ETF, what does it indicate? It shows that the large funds that once "believed in" it are quietly retreating. From early November to now, the 30-day moving average has remained negative, which is not an accidental fluctuation but a clear directional signal—institutional participation is declining, and some funds are gradually exiting.

Here's the key point: retail investors often are the last to notice these signals. By the time you realize something is "off," the smart money has already left. Moreover, in an environment of shrinking liquidity, fewer and fewer people will be willing to buy in, making it easier for a price decline to trigger a stampede.

This is not to say that Ethereum has no prospects, but rather that choosing the right entry point at this stage is crucial. Don't blindly chase after a certain ecosystem story. Observe institutional behavior, beware of liquidity traps—these are essential lessons for surviving long in this market. Wait and see; wait for the real bottom signals before getting in. No need to rush.