#加密货币衍生品市场 Recently, Bitcoin ETF funds have seen large-scale outflows, reaching $3.5 billion—almost matching the historical record high. This phenomenon’s impact on the market cannot be ignored. Citi’s research shows that for every $1 billion in net outflows, the coin price could drop by about 3.4%. Given the current scale of outflows, Bitcoin’s price still faces downward pressure in the short term.

It’s worth noting that some of these outflows may be due to hedge funds unwinding basis trading strategies. This reflects a shift in how market participants are assessing the current situation. At the same time, institutional investors are also using ETFs for risk hedging, which further intensifies the outflows.

From a technical perspective, if the outflows continue, the year-end target price of $82,000 will likely be difficult to achieve. It is advisable to closely monitor fund flows in the coming days, as well as other market factors such as gold trends, to comprehensively assess the market outlook. For traders, it is especially important in the current environment to pay attention to risk management and control positions prudently.