Currently, short-term capital inflows have completely dissipated, and mid-term capital continues to exit. The bearish outlook is maintained today.
$BTC
🔻24-hour spot net outflow of $19.56 million, contract net outflow of $257 million; spot net outflow of $64.86 million, contract net outflow of $385 million. The 30-day contract net outflow has further expanded to $7.71 billion. Short-term support is clearly insufficient, and mid-term capital is still continuously withdrawing.
$ETH
🔻24-hour spot net outflow of $31.32 million, contract net outflow of $192 million. Although there was a slight 24-hour spot net inflow of $1.72 million, the contract side still saw a net outflow of $166 million. The 30-day contract net outflow is as high as $8.46 billion, with a capital structure clearly weaker than BTC.
$SOL
🔻24-hour spot net inflow of $8.86 million, but contract net outflow of $24.01 million; 30-day contract net outflow of $2 billion. There is capital support on the spot side, but leveraged funds are unwilling to stay, limiting the sustainability of the rebound.
ZEC
🔻24-hour spot and contract net outflows of $3.4 million and $34.43 million respectively, with a 30-day contract net outflow of $1.04 billion. After a strong market, signs of capital withdrawal are very evident.
BTC is oscillating below $80,000, and the 15-minute level capital replenishment should be seen more as short covering and low-level rebound grabbing rather than trend buying. BTC's rebound is unlikely to drive contract capital inflows, and ETH, SOL, and ZEC will continue to face downward pressure.
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