Odaily星球日报讯 据 Farside Investors 监测，昨日富达 FBTC 净流入 6110 万美元。

昨日富达FBTC净流入6110万美元

Odaily Odaily reported that according to Farside Investors monitoring, Fidelity FBTC had a net inflow of US$61.1 million yesterday.

Fidelity FBTC had a net inflow of $61.1 million yesterday

Odaily Odaily reported that according to Farside Investors monitoring, VanEck HODL had a net inflow of US$22 million yesterday.

VanEck HODL net inflow of $22 million yesterday

1/N BTC will not rebound to the previous high
Please think about what the general environment was when BTC reached the ATH twice before?
1) Strong and continuous ETF buying, real money (Figure 1)
2) Peak liquidity (February-end of March) (Figure 2)
3) Excessive market expectations of interest rate cuts, as high as 180bp at the beginning of the year (Figure 3)
What is the current environment? You will find that even none of these conditions can be met now. Let's dive in together.
2/N
For ETF buying, please refer to Figure 1. The "marginal purchasing power" is actually much lower than at the beginning of the year. How to understand? If you put...