#比特币现货ETF资金流动 Seeing Bitcoin re-establish above $90,000 and spot ETF funds beginning to flow back, my first reaction isn't excitement but caution. This rebound pattern feels very familiar—each major dip is followed by a recovery that triggers a wave of emotional reversal, jumping straight from panic to "cautious optimism."

The question is, what is this "optimism" based on? The news mentions institutional funds rebalancing for the new fiscal year, and the expansion of stablecoins being seen as a channel for international funds to re-enter. It sounds promising, but I’ve had too many falls in this market to be easily convinced. Institutional allocations ≠ market bottom confirmation, and ETF fund inflows don’t necessarily mean long-term confidence—these could all be short-term liquidity repairs.

The fact that the 2025 halving rally didn’t erupt as expected is crucial. The market has already digested a lot of expectations; this current rebound is more about technical correction and emotional recovery. I don’t deny that $91,500 could serve as support, but don’t be fooled by predictions like "Q1 will hit a new all-time high." Such forecasts are made every year, and very few actually materialize.

If you want to participate in this rebound, remember one thing: keep a close eye on the flow of funds in spot ETFs, but don’t treat it as a certainty of price increase. Managing phased positions and strict stop-losses are more important than predicting target prices. Those who have been in the game long on-chain don’t bet everything on a single move—they find a balance between certainty and uncertainty.