#加密货币现货ETF发展 This wave of ETF outflows has indeed put considerable pressure on the market. The $3.5 billion redemption scale is nothing to scoff at, especially with such a high proportion coming from BlackRock's IBIT fund. Citi's analysis is interesting: for every $1 billion outflow, there's a corresponding 3.4% price drop. By this logic, there's still room for further declines in the near term.

However, I think such large-scale outflows could also signal that a bottom is about to form. After all, market sentiment is already quite pessimistic, and many investors are panic selling. As a follower, this is actually the time to stay calm and closely watch those traders who remain steady during the downturn. They often position themselves at the lows to prepare for the next rebound.

Of course, it's still too early to enter the market now. I'll continue to monitor capital flows and changes in the options market, especially movements around the key $85,000 level. Once there's a clear sign of a bottom, I can consider taking a small position and following the pros in. Risk management remains crucial—it's even more important to be cautious at times like this.