Yesterday, BlackRock's head of digital assets admitted in a live stream that there was an embarrassing situation: among the top 20 ETFs with the largest global inflows, only one had a negative return—BlackRock's Bitcoin ETF. All the other ETFs were profitable, yet BlackRock's Bitcoin ETF still ranked fourth globally in terms of inflows, reaching $26 billion. He believes this phenomenon precisely illustrates that Bitcoin is still in a period of intense trading and long-term accumulation. He also revealed that 90% of BlackRock's Bitcoin ETF investors are still buying on dips, while only 10% of hedge funds are using basis trading for short-term, high-frequency trading.