Market signal warning: Double pressure on funding and ETF buying

1. Tightening funding:

The supply of USDT remained stable, but the supply of USDC dropped by 370 million, ending the recent trend of improvement, indicating that market liquidity may be shrinking.

2. ETF fund outflow:

Yesterday, Bitcoin and Ethereum ETFs had net outflows of US$413 million and US$78.8 million, respectively, which formed a sharp contrast with the net inflow of the previous day, reflecting the weakening of fund sentiment.

3. Weakened demand in the US market:

The Coinbase Bitcoin Premium Index turned from positive to negative, indicating that the US market buying was weak and demand declined.

Comprehensive analysis:

The funding, ETF buying and US market demand all showed a deteriorating trend. Market signals tended to be cautious. Investors need to avoid blind operations and reasonably adjust their positions to deal with possible risks.