The data for BTC is even worse than for ETH. The total outflow of funds for ETH is only about 27% of that for BTC, which shows how large the outflow for BTC is, especially with BlackRock, which has maintained a significant outflow in BTC. Essentially, BlackRock's outflow in BTC is equivalent to the total net outflow of ETH. Last Friday, BlackRock reduced its holdings by 751 #BTC, but in the forty-ninth week, BlackRock still increased its holdings by nearly 14,000 BTC, so this reduction is not considered very high.

Grayscale's reduction of nearly 3,000 BTC was the largest single-day reduction last week, with the selling pressure from GBTC already being minimal. The Mini ETF reduced its holdings by nearly 5%. The reduction in ETH was only from three companies, while BTC had as many as six companies, collectively reducing nearly 4,800 BTC.

This sentiment decline is even more severe than for #ETH, with net purchasing power only at 13% of that in the forty-eighth week. The main turning point was after Powell's speech, indicating that the expectations for interest rate cuts have had a significant impact on investors. Even today, despite the release of several positive news, it did not curb the selling of BTC after the market opened. This is likely due to both seasonal bearish factors and a lack of optimism from the policy side regarding Christmas.

Christmas has also begun to become part of the risk-averse strategy.

Currently, the twelve ETFs in the U.S. hold a total of 1,134,874.90 BTC, with BlackRock holding 552,714, Grayscale holding 246,418, and Fidelity in third place holding 204,767. Additionally, $MSTR holds 444,262 BTC. The total amount of BTC held in the U.S. is approximately around 2 million.

The data has been updated, address: https://docs.google.com/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit?usp=sharing

Weekly data address: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing

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