#ETF资金流向 Seeing Half Mu Xia's judgment on ETF capital flows, my mind flashes back to several critical moments experienced over the years. At the end of 2017 and the end of 2021, those seemingly invincible highs were ultimately shattered by capital withdrawals. This time is different because we have a clearer observation window—the inflows and outflows of institutional funds have become transparent.

The current situation is actually quite interesting. Bitcoin is oscillating around $82,000, with volatility pushed to the limit, like a tightly stretched string about to snap. Half Mu Xia is right; excessive optimism is no longer appropriate, but there's no need to rush into pessimism either. The next 1-2 months are precisely the golden window to observe ETF capital flows—if there is continuous net inflow, then short-term consolidation is just building momentum; on the other hand, significant outflows are the real risk signals.

I've seen too many people get scared out by short-term fluctuations. The $71,000 level, while a low-probability event, historically, such "low-probability" scenarios often turn into nightmares for those who haven't done their homework. The key is to focus on the capital situation, not be swayed by emotions. The real test will come in March or April next year. The current task is to patiently wait for the trend to clarify, and remember—every cycle's turning point is hidden within the most boring sideways trading.