According to CoinMeta, He Yi, co-CEO of Binance, stated that the tightening of the macro environment and the weakening of AI financing expectations have brought short-term market pressure, but the long-term development logic of Bitcoin and the crypto industry remains solid. Binance Research data shows that the tightening of macro liquidity and the weakening of AI financing expectations have led to a outflow of market funds. During the relevant statistical period, BTC fell by 15.6%, and US spot Bitcoin ETF experienced net outflows for 7 consecutive trading days, totaling approximately $1.91 billion. NBIS perpetual contracts fell by 27.5% during the same period. The market will need to pay attention to the subsequent flow of ETF funds and the AI financing signals released in NVIDIA's financial reports.