As mentioned earlier, BTC's data is not good. In the past week, BTC spot ETFs have been experiencing net outflows, but the total outflow is only 5605, accounting for 2.81% of the total, which is not much. However, the net outflow in the 57th week was also over 5000, and the outflow has increased by 10% in the past week. From the data, although most investors still maintain a stable attitude, there are indeed more investors who can't bear it anymore. From the data of reducing holdings, the main players Grayscale, BlackRock and Fidelity, as well as the second tier ARK and Bitwise, have all shown a net outflow trend in the past week. The number of investors who actively purchase is very limited, mainly due to the lack of direct positive news at both macro and policy levels in the past week, while negative data such as tariffs are quite stimulating. Insufficient liquidity and slow policy progress remain the main contradictions at present, but of course, from the data, Bitcoin investors still maintain a considerable level of patience. At present, BlackRock ranks first with 586868 BTC holdings, Grayscale's two funds hold a total of 240783 BTC holdings, ranking second, and Fidelity holds a total of 206800 BTC holdings, ranking third. It's just like that for others. At present, the data of both BTC and ETH spot ETFs is not enough to change the price of the spot, but rather reflects the sentiment of investors. Although overall investors have not become pessimistic or are maintaining a wait-and-see attitude, more and more investors are starting to worry about the future and leaving. Data has been updated, address: https://docs. ((google.com))/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit? usp=sharing Weekly data: https://docs. ((google.com))/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit? usp=sharing This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex