I recently organized some data and discovered a few interesting phenomena:

**ETF Portfolio Changes**
Bitcoin spot ETFs have experienced net outflows for a consecutive week, with no new capital entering the market. This signal is not very optimistic and reflects cautiousness among institutional investors.

**Exchange Premium Structure Reversal**
The Bitcoin premium index on a major compliant platform has recently maintained a negative range for 11 consecutive days, currently at -0.0689%. Negative premium indicates that the platform's price is below the global market average, which usually implies several signals: strong selling pressure in the US market, declining risk appetite among investors, increasing safe-haven sentiment, and possible capital outflows.

**But here’s the interesting part**
Although these indicators point to pessimism, Bitcoin's price has not experienced a significant plunge this week. Normally, such signals should trigger a larger decline, but the market reaction has been quite muted — it seems really unable to fall further.

My judgment is that sideways consolidation may continue for a few more weeks, followed by a likely rebound. Of course, this is just an inference based on current data and for reference only.

A reminder: investing always involves risks. Think carefully before making any decisions, and don’t let emotions dominate. The final decision is in your hands.