[Galaxy Research Director: ETF Net Outflows and Weak Treasury Purchases Lead to Bitcoin's Weak Performance in October] According to a report by Jinse Finance on October 18, Galaxy Research Director Alex Thorn (@intangiblecoins) tweeted that ETF net outflows and weak treasury purchases are among the reasons for Bitcoin's weak performance in October. He attached a chart titled 'Institutional Absorption vs. OG Distribution,' which measures market structure by subtracting the volume of coins that have been dormant for over 5 years and then reawakened from (ETF net inflows + BTC treasury company net inflows). The aim is to reflect the balance of power between institutional capital absorption and early holders (OG) distribution.