Analyst: Since last October, BTC ETF funds have lost 43%, decreasing from $169.5 billion to $96.4 billion

Odaily Planet Daily reported that according to on-chain analyst Ember's monitoring, since the introduction of spot ETFs, the prices of BTC and ETH have been essentially driven by ETF funds. That is: ETF fund inflows lead to price increases; ETF fund outflows lead to price declines. It can be seen that the magnitude of the price drop is completely consistent with the magnitude of the fund outflow:

1. From last October to now, BTC ETF funds have decreased from $169.5 billion to $96.4 billion, a loss of 43%. During this period, the BTC price also fell from $125,000 to the current $73,000, a drop of 41%.

2. From last October to now, ETH ETF funds have decreased from $32 billion to $11.6 billion, a loss of 63%. During this period, the ETH price also fell from $4,800 to the current $2,000, a drop of 59%. ETF funds have been flowing out for the last half month, and the price has been falling for that half month as well.