Recently, the U.S. Bitcoin spot ETF market has experienced significant capital outflows, with a net outflow of $195.9 million yesterday, particularly highlighted by ARKB and FBTC. This trend has even affected Grayscale, which is usually regarded as a barometer of the market. Meanwhile, the REX-Osprey Solana ETF also faced an outflow of $2.9 million.

These signs indicate that institutional investors may be taking profits and are turning their attention to the upcoming Jackson Hole Global Central Bank Annual Conference, expecting Fed Chairman Powell to provide clear signals on future interest rate cuts at the meeting.

However, this short-term volatility is not entirely negative. Data from the market research firm CryptoQuant shows that large investors (commonly known as "whales") have seized the opportunity to increase their holdings by about 16,000 Bitcoins, which may be a strategy for accumulating at low prices. Although the price of Bitcoin may pull back to around $112,000 in the short term, the long-term forecast of $1,000,000 is still considered achievable.

For ordinary investors, it is particularly important to remain calm at this time and avoid panic selling. The market generally expects a 75% chance of the Federal Reserve cutting interest rates in September, which is likely to be a key factor in guiding market sentiment. Investors should closely monitor the Federal Reserve's policy signals, view the current market adjustments rationally, and prepare for a potential long-term bull market.