Recently, the performance of Bitcoin ETFs has been quite eye-catching. They attracted a net inflow of $843 million in a single day, and this week the total has already exceeded $1 billion. Since the beginning of the year, the cumulative inflow has approached $1.5 billion. This wave of capital is no small move.

On the price side, Bitcoin is currently trading around $97,000. Interestingly, for about half a year before this, it had been oscillating around $88,000 repeatedly, as if there was an invisible string at that level.

From this perspective, the market's buying power seems to be gradually digesting the existing selling pressure, and it’s even possible that the sell orders have been almost exhausted. Of course, further observation is needed, as the market always loves to surprise.