CoinMeta data: Galaxy Research Research Director Alex Thorn pointed out that the weakening of Bitcoin in October was affected by weak corporate reserves and a net outflow of spot ETF. As of October 18, the selling pressure from long-term holders exceeded what institutions were willing to buy, resulting in a cumulative net loss of 127,300 coins BTC for the year. The cumulative net inflow of spot Bitcoin in the United States ETF for the year was approximately $355 million, with a slight net outflow so far in October.