The BTC data has also been at a pretty garbage level these past couple of days.

CN
Phyrex
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1 day ago

In the past few days, the data for BTC has also been at a rather poor level. Although there has been a net outflow, it is not a significant issue. This is similar to the net outflow of ETH, mainly because the outflow has not been on a large scale. American investors have collectively withdrawn less than 700 #BTC, with Fidelity accounting for 500 of those.

Interestingly, after looking at the #ETH data, it was found that Fidelity was the top buyer of ETH yesterday and also the top seller of Bitcoin. It's unclear how Fidelity's financial managers are communicating this to their clients. Some may wonder if this is related to Grayscale submitting the 19b-4 results, but the timing doesn't align, so it should not be related.

Moreover, if it were indeed related to ETH staking, it should indicate that the buying volume from most institutions is on the rise. At this stage, the BTC being sold has no impact on the price; the selling volume is pitifully low and does not affect user sentiment.

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

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