#数字资产市场动态 The market is showing a clear divergence trend. Based on the latest data, some interesting clues can be found. Last week, digital asset products experienced a $446 million outflow, with a total outflow of $3.2 billion since October 10, indicating that market sentiment has not fully recovered. However, a closer look at the flow details reveals a different story — outflows are mainly concentrated in the US market, while Germany has maintained continuous inflows, suggesting that institutions in different regions are making differentiated choices.

Even more interesting is the divergence at the asset level: ETF products for XRP and Solana have been continuously attracting funds since their launch, forming a stark contrast with Bitcoin and Ethereum outflows. This phenomenon cannot be simply viewed; it reflects a reassessment of different sectors by capital.

On-chain data confirms that large Bitcoin addresses have quietly increased holdings during the market decline, with on-chain activity showing clear signs of accumulation. Ethereum network gas fees remain relatively stable, indicating that the fundamentals of core assets are still supported. These signals suggest that, despite short-term pressure, the operational logic of large funds points in another direction.

Connecting these observations, several key points emerge: European institutions are positioning themselves against the trend, altcoin ETFs are gaining attention, and funds are undergoing structural reorganization. The short-term market faces pressure, but this divergence is precisely creating opportunities. Germany’s continued inflow hints at possible regional rotation, while the strong performance of emerging assets like XRP and Solana may signal the start of the next phase of altcoin rallies.

The key is to understand what the market is doing — this is a process of shakeout and restructuring. Strong assets and the favored directions of institutions are gradually surfacing. At this stage, it’s important to avoid being driven by short-term panic selling and to focus on relatively certain sectors like value coins and ETFs. Structural opportunities in the market have already appeared; the rest is about careful identification and precise operation.