Today, let's start with BTC. Indeed, since Monday, there have been significant reductions in both BTC and ETH holdings by investors. Many of my friends also sent me a tweet today from Arthur Hayes, suggesting that the recent decline in Bitcoin is related to IBIT's hedge fund. There are a large number of holders selling IBIT, which has led to the decline in Bitcoin. Although there were indeed many sales on Monday, it is not right to blame it all on ETFs. Firstly, the sale of ETFs is not in the Asian time zone. As we all know, the price of BTC remained around $92000 after the US stock market closed yesterday. The main selling was in the Asian time zone, and the small number of ETFs was not enough to cause the market to fall so severely. The biggest seller was not BlackRock, but Fidelity. The BTC sold by BlackRock accounts for less than 0.3% of the total stock, while the sale by Fidelity accounts for 1.27% of the total stock. Fidelity is indeed slightly more, while BlackRock is not too exaggerated. On the contrary, I think this is a normal change in investor sentiment. In addition, in the past 24 hours, American investors sold 5688 BTCs. Although there were a lot of BTCs, the number of BTCs sold was not unprecedented, so it was not too reasonable to blame ETFs. More reasons should be that tariffs and restrictions on China's semiconductor industry led to a decline in market confidence in interest rate reduction. Trump's tariff policy was really unexpectedly tough. Today, I saw a tweet saying that compared with Biden, Trump may be the killer of cryptocurrency. Data has been updated, address: https://docs. (google.com)/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit? usp=sharing This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex