2026-01-01 12:24:50

Yesterday's market data was quite interesting. BTC ETFs continued to outflow, with a net outflow of $340 million in a single day, and ETH ETFs were no exception, with outflows of $72 million. The story on the chain is clearer — long-term holders remained at around 14.1 million, but the exchange-held BTC balance is slowly decreasing, with an average daily decline of 40,000 coins, indicating that someone is gradually accumulating. In contrast, ETH on exchanges is actually increasing, with a daily addition of 117,000 coins, signaling clear selling pressure.

What about the cost basis? Short-term BTC holders have an average cost basis of $100,190, and the annualized yield on USDT staking is 4.40%. Overall, funds are flowing out, but the supply side of BTC remains relatively tight, while ETH faces even greater pressure. At this stage, the market is clearly playing defense, and participants are a bit cautious.

BTC0.49%

ETH0.41%

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MidnightGenesis

· 1h ago

On-chain data shows that behind ETF outflows, there are indeed some entities quietly accumulating. The daily decrease of 40,000 BTC in exchange balances is no small matter. However, with ETH increasing by 117,000 per day, it becomes more interesting, and the pressure is indeed greater.

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down_only_larry

· 6h ago

ETF outflows are not scary; the key is who is accumulating. Clearly, someone is laying low with BTC. The number of coins on exchanges is decreasing, which is a signal. It's just that ETH is still aggressively selling off. Wait, short-term holders' cost basis is only 100,000? How much is it now? How to profit from this spread? Who would dare to move during the defensive phase? I want to buy the dip but have no confidence. Tight BTC supply is a good thing; just worried it might be misleading data.

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StakoorNeverSleeps

· 6h ago

ETF net outflow, exchange weight shifting... We've seen this script too many times, the real players have long since lurked on the chain. The buying pressure on BTC outweighs ETH's selling pressure, and that's the gap I’m betting on.

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ZeroRushCaptain

· 6h ago

ETF net outflow of 340 million, now it's the institutions' turn to withdraw their funds... Wait, is the BTC exchange balance decreasing? Is someone secretly accumulating? I feel like this is a precursor to a contrarian indicator. Once we all get on board, it will be cut in half. ETH daily increase of 117,000 coins, with such strong selling pressure, this rhythm doesn't feel right...

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HorizonHunter

· 6h ago

The BTC accumulation signal looks pretty good, but ETH is a bit weak.

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ZKProofster

· 6h ago

so eth dumping on exchanges while btc quietly accumulating... technically speaking, this is exactly what supply squeeze looks like before things get interesting. the divergence here is proof of market structure shifting, no? long holders sitting tight, shorts prob getting nervous. $4.40 staking yield tho, that's barely covering inflation lmao

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ApeEscapeArtist

· 6h ago

ETH is starting to dump again, and the pressure is really unbearable... Meanwhile, BTC is quietly being bottomed out, interesting.

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