The most fundamental driving force of the market is capital. Data shows that the inflow of funds from new investors has turned negative. The current sell-off is fierce due to the lack of 'absorption' of new capital.

In a bull market, pullbacks attract capital to enter more quickly; whereas in the early stages of a bear market, weakness only triggers more withdrawals. We are currently in the latter situation. Without new money, it is difficult to reverse #BTC☀️ #加密市场观察

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