Spot Bitcoin ETFs are aggressively absorbing BTC, with capital inflows exceeding mining supply by 9 times over the past 5 trading days. The United States' spot Bitcoin ETF has absorbed 18,991 Bitcoins, approximately 9 times the new supply from mining during the same period (2,109 BTC). This capital inflow not only demonstrates strong demand in the ETF market but also shows that funds are rapidly accumulating, providing new momentum for the market. This trend reflects a shift in market sentiment—funds are seeking long-term value amid short-term volatility, and the underlying capital is quietly gathering. Most people see price fluctuations, while a few focus on capital flows.

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