#加密货币ETF发展 This time, ETF holders have returned to profitability, which has a significant impact on market sentiment. Data shows that IBIT holders have a total profit of $3.2 billion, with an almost unchanged average cost. ETF selling pressure may ease, as the total profit reached nearly $40 billion at the peak on October 7, and only $6.3 billion four days ago, indicating high volatility. The situation has significantly improved since a net outflow of $903 million on November 20. Close attention should be paid to changes in holder sentiment and capital flows, as these may influence short-term market trends. However, a single indicator is not enough to determine the trend; it should be combined with other on-chain data for comprehensive analysis.