After looking at the latest Spot capital flow data, the market is playing out a very typical phenomenon - cycle split.

The weekly dimension is clearly in a state of blood loss. Looking at the 7-day cycle, the determination of the main funds to withdraw is very strong. ETH has become the hardest hit area, with a net outflow exceeding 300 million in a single week, and the selling pressure is quite heavy.

But it gets interesting when we switch to the daily chart. On a 24-hour dimension, signs of a turning point are starting to appear — signs of stopping the bleeding are gradually emerging, and bullish funds are taking action. SOL has become the focus of capital replenishment, indicating that there may be structural opportunities in the short term.

A typical confrontation pattern of long-cycle pressure vs short-cycle repair. This is when the grasp of the nodes is most tested.