BlackRock's Bitcoin spot ETF (IBIT) has been in trouble recently.

The data is straightforward: more than $2.7 billion in outflows for five consecutive weeks. Another 113 million outflows in a single day on Thursday, and it is about to fall in the sixth week. This is not an ordinary pullback fluctuation.

Glassnode's report points to the key – the core engine that previously drove BTC prices, the continuous inflow of institutional funds, has come to a standstill. The market wind is indeed changing, and new funds are in a wait-and-see mood, no longer as actively entering the market as before.

The direct consequences of this wave of divestment? Spot selling pressure increased significantly. Bitcoin has fallen a lot from its October high, and the market that relies on ETFs to pull up unilaterally is out of sight for the time being.

What should the average investor do now?

First of all, don't blindly buy the bottom, and don't continue to lie down and rise. At present, the market is divided between long and short, and those with heavy positions can consider reducing their positions moderately during the rebound, and lock up part of the profit and principal first. If you want to enter the market, it is not too late to wait for the market stabilization signal to be clearer.

Remember one sentence: keep the principal to have a chance to turn the tables.

Behind this round of capital withdrawal, there is actually a signal of market style switching. Smart money may be repositioning in other directions. What is most needed now is to observe patiently and take decisive action when the opportunity arises.