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

According to Odaily, on-chain analyst EmberCN monitoring indicates that since the launch of spot ETFs, the prices of BTC and ETH have been largely driven by ETF fund flows. That is: ETF fund inflows lead to price increases; ETF fund outflows lead to price declines. It can be observed that the magnitude of price drops is completely consistent with the magnitude of fund outflows:

1. From last October to now, BTC ETF funds have decreased from $169.5 billion to $96.4 billion, a loss of 43%. BTC's price during this period 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%. ETH's price during this period also fell from $4,800 to the current $2,000, a drop of 59%. ETF funds have been flowing out for the past two weeks, and prices have been falling for the same two weeks.