2025.1.8 Market Signals: Both Funding Conditions and ETF Buying Pressure Deteriorate

1. Funding Conditions

The supply of USDT remained unchanged in the past 24 hours, while the supply of USDC decreased by 370 million (from 45.85 billion to 45.48 billion).

Funding conditions have ended the continuous improvement trend since January 3rd.

2. ETF Buying Pressure

Bitcoin ETF: FBTC+ARKB+BITB+BTC saw a net outflow of 413 million yesterday, a significant deterioration compared to the net inflow of 669 million from the previous trading day;

Ethereum ETF: FETH+ETHW+ETH experienced a net outflow of 78.8 million yesterday, also showing significant deterioration compared to the net inflow of 4.6 million from the previous trading day.

Both Bitcoin and Ethereum ETF buying pressure have deteriorated.

3. US Buying Pressure

The Coinbase Bitcoin premium index briefly turned positive but then returned to negative. US buying pressure has weakened again.