BroadChain learned that at 21:56 on April 26, according to NewsBTC, analysis by XWIN Research Japan, an educational institution under CryptoQuant, shows that Bitcoin spot ETFs have recorded continuous net inflows since the end of February, with an average weekly inflow of approximately $1 billion. As of last Friday, net inflows reached $14.45 million, while Ethereum ETF net inflows reached $23.38 million. The Coinbase premium index has remained positive since the beginning of April, indicating strong demand from U.S. institutions.
However, the derivatives market shows a contrasting signal: the funding rate remains consistently negative, with traders generally betting on a downward trend. XWIN Research Japan pointed out that this divergence may stem from "recency bias," but if spot prices continue to rise due to institutional buying, leveraged short positions will face liquidation risks. Bitcoin is currently trading at $77,590, with a 24-hour increase of only 0.23%, and trading volume has dropped by 39.19% to $16.37 billion.