Looking back at the data from the past three months: In mid-May, we saw an epic wave of large-scale capital movements. Since then, there hasn’t been any inflow or outflow of funds on the same scale. Overall activity has been steadily declining, and the market has entered a phase of stock-based competition. ———————— The latest data from August 3 shows a clear divergence: BTC saw an outflow of approximately $104 million, while Ethereum actually attracted a modest inflow of nearly $19.57 million. The big players aren’t collectively cashing out—they’re reallocating and switching tracks. ———————— Right now, it’s tough for the market to see a strong one-sided trend. New capital is hesitant, sitting on the sidelines. BTC funds are gradually being redistributed, and capital is starting to look for opportunities in Ethereum and its ecosystem. Sector divergence will become increasingly pronounced.