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The money is back, but it only recognizes the top three.
Sunday market basically flatlined. BTC hovered around 77,000 all day, peaking just above 77,200 and never dropping below 76,900. The daily volatility was even less than some hours last week. ETH fluctuated between 2,400 and 2,450 in that range. SOL was just above 90, showing the same pattern. Weekend liquidity is thin, so prices neither rise nor fall. Days like this are perfect for clearing last week's gains. To conclude, BTC's 22% weekly surge last week has mostly been digested. The market is now waiting for the next catalyst, not holding back a big move. Where will that next catalyst come from? Today, I want to talk about money itself. On August 20, the US spot Bitcoin ETF saw a net inflow of $606 million, and the Ethereum spot ETF had $221 million. The next day, combined trading volume exceeded $7.5 billion. The numbers look impressive, but there was another news item the same week: Hashdex's DeFi spot Bitcoin ETF was suspended and liquidated on NYSE Arca on August 17 due to small scale and poor liquidity. On one hand, there's a flood of capital; on the other, small ponds run dry. Both events happened in the same sector in the same week. So ETFs are never a story of broad gains; they are a winner-takes-all game. Money only flows to the top three. Products ranked eighth or ninth, even if perfectly positioned, still can't survive. This is a bit like the dating market—everyone says they're looking for true love, but...














