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Since yesterday, there have been noticeable changes in the capital flows of Bitcoin and Ethereum. Yesterday, BTC was still experiencing net outflows, but ETH held up and continued to see net inflows. However, today BTC saw a significant outflow, and ETH also experienced capital loss—albeit to a lesser extent.
The reaction from institutions is even more interesting. Grayscale experienced five-figure outflows, which is quite significant. In contrast, the outflows from BlackRock, Fidelity, and Bitwise are manageable, not as urgent as one might imagine. This comparison actually reveals quite a few things: it seems that the market's expectations for Ethereum are even stronger, and institutional confidence remains intact.