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The Bitcoin market has been quite volatile recently. Since December 8th, Bitcoin spot ETFs have experienced approximately $716 million in net outflows, reflecting the attitude of some institutional investors during this period.
The price performance is also quite straightforward. On December 8th, Bitcoin was still around the $90,000 mark, but it quickly dropped to $88,000. The two-week decline seems quite alarming, but from the overall market resilience, the problem is not significant—such fluctuations are not enough to impact the fundamentals of Bitcoin given its size.
It should be noted that whether ETF funds are flowing in or out, the long-term logic of the market remains unchanged. Short-term price fluctuations and capital battles are normal market noise. What truly matters is the change in market participants' attitudes reflected behind these data points, as well as Bitcoin's long-term positioning as an asset.