#比特币价格预测与投资主题 Seeing this analysis report, I feel a bit uncomfortable in my heart. ETF net outflows of 24,000 BTC—what does this number tell us? It shows that those once most steadfast institutional buyers are retreating.

Weak demand—these are the three words I fear most hearing. Because I've seen price rises and falls, but demand exhaustion means there are no new buyers to take over the position. At this point, even the best technical patterns become paper tigers. Breaking through the 365-day moving average is also not a good omen; historically, this level often serves as a confirmed signal of a bear market.

The few traders I'm following have already started adjusting their positions. Some aggressive ones are going fully out of the market to observe, while conservative ones are doing defensive position reductions. My own strategy is like this: first, I'll reduce the copy-trading ratio from standard position to around 70%, while at the same time raising the stop-loss line to near recent highs—I'd rather make a bit less profit than get trapped.

The key is to see whether new demand will emerge next. If institutions continue net selling and retail investors follow suit in panic selling, then this trend might really reverse. But don't be too pessimistic either; historically, every time there are people who catch the bottom. The question is who dares to place bets when demand is at its weakest.

Continue observing, and wait to see if there are reverse signals from smart money before making a move.