Victory Securities: Bitcoin may continue to fluctuate due to the decline of US stocks

Odaily Odaily News Shengli Securities Analysis, the virtual asset market has come to the lower edge of the volatile trend. Last week, the price of Bitcoin fell by about 4.25% during the week, and Ethereum fell by about 5.29%. The decline of virtual assets is mainly due to the impact of US economic data, but from the perspective of virtual assets in the market, it still shows resilience. In terms of capital flows, the over-the-counter Bitcoin ETF outflow last week was about 706 million US dollars, and the Ethereum ETF outflow was about 98 million. Despite the outflow of funds, if market sentiment remains positive, it may only be a temporary adjustment rather than a change in the long-term trend; the Bitcoin contract holdings of the exchange are at a historical high, showing traders' firm commitment to the market. This dynamic of funds may be a sign of market participants' recognition of the current price level and a medium- and long-term optimism about the second half of the bull market. In this week's virtual asset market turmoil, the prices of Bitcoin and Ethereum experienced a decline, but this does not necessarily indicate a shift in the long-term trend.