2025-12-25 16:40:17

Since the approval of the #美联储回购协议计划 Bitcoin and Ethereum ETFs, cases of continuous monthly net outflows have been rare. But as we enter December, the situation is different — although there are monthly outflows, the price has not been broken through.

The logic behind this phenomenon is actually quite clear: on one side, retail investors are selling ETF positions; on the other side, various fund pools and leading institutions are accumulating at low levels to change hands. In simple terms, the chips are changing hands.

Looking ahead, once the liquidity environment improves next year or the year after, these institutions holding the chips are likely to sell to retail investors at higher prices — continuing to complete a new round of distribution through ETFs. That’s how the market cycles.

BTC0,29%

ETH1,65%

CFX-0,22%

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FantasyGuardian

· 2025-12-28 02:59

Retail investors get cut while institutions accumulate, this script repeats every year, and we're the ones getting cut. Institutions hold onto their chips, waiting for better liquidity next year to dump the market. Just thinking about it makes me angry. Buying at low levels is the way to go, but who the hell has that spare cash? Outflows can still support the price, indicating that someone is indeed lurking at the bottom, but I just don't know when retail investors will turn the tide. That's why dollar-cost averaging is important; don't be fooled by monthly fluctuations.

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DegenGambler

· 2025-12-26 23:40

Retail investors are about to get caught again; I've seen this show too many times.

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ZKProofster

· 2025-12-25 17:10

technically speaking, the "institutions buying dip while retail panic sells" thesis is just textbook redistribution wrapped in on-chain data... except we can't actually verify who's behind those wallets, so it's mostly educated guessing dressed up as proof. ngl the circular logic here checks out tho

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ProposalManiac

· 2025-12-25 17:09

The logic of chips changing hands sounds smooth, but the question is—can the incentive mechanism for institutions to take over really last that long? History is full of cases where "buying the dip at low levels" continued to decline afterward. What makes this time different?

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StealthMoon

· 2025-12-25 17:03

Retail investors are once again handing over chips to institutions. How many years has this trick been played?

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ShibaMillionairen't

· 2025-12-25 16:47

Retail investors are once again clearing the way for institutions. This time, it's a clear-cut wipeout, haha.

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ContractCollector

· 2025-12-25 16:42

How many times have retail investors been wiped out and still haven't learned? Buying at low prices and selling at high prices—how many times has this script been played out?

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