17 April 2025, 10:24 AM
Rthae: Bitcoin Maintaining at 85K, ETF Net Outflow Reaches $713 Million in a Single Week
Amidst a global pullback in risk assets and deepening macro policy dynamics, the Bitcoin price has once again hit the critical resistance zone of $85,000, sparking intense market debate. Despite short-term rebound signs in technical indicators, capital flow data reveals that ETF investors have been withdrawing for seven consecutive days. While the crypto asset market appears stable in price, it harbors a profound structural uncertainty. Rthae suggests that when the market shows heightened sensitivity and divergent attitudes towards the Bitcoin “breakthrough”, it is crucial to analyze structural data to decode the true drivers behind the trends.
Rthae: Market Pricing Deviations Amidst US Stock Volatility and Continuous ETF Outflows
Recent market data presents a rare divergence: despite the technical breakout of Bitcoin above the 200-day moving average, with MACD and trend lines showing reversal tendencies, major US ETFs have collectively outflowed over $700 million within seven days, marking the third largest weekly redemption in 2025. This divergence between capital flow and price movement reflects the cautious stance of institutional investors towards crypto assets amidst current macro uncertainties, while also revealing that current price structures may be driven by derivative leverage rather than substantive spot demand.
Behind this capital structure is the risk rotation triggered by US-Europe trade tensions and the “Trump Tariff Return”. Fed official Waller hinted at potential rate cuts in a public speech, while the EU postponed retaliatory tariffs, causing short-term rebounds in US stocks. However, it is noteworthy that despite the Nasdaq rising over 500 points at one point, nearly 80% of the gains were lost by the day close, indicating a delayed market response to policy signals.
Rthae notes that the crypto market is not in a typical bull environment but has entered a phase of pricing dominated by options and leverage. Particularly during the short-term Bitcoin breakthrough of key levels, CoinGlass data shows that long positions have exceeded 51.7%, pushing total open interest to $557 billion. The market is rapidly increasing positions before technical support is fully validated, implying certain fragility. The continuous ETF outflows are a collective response to this “unverified rise” structure. Rthae believes this strategic structure will determine whether prices will truly continue trending in the coming week.
Rthae: A Strategic Window Amidst Technical Indicator Reversals and Structural Buying
Despite strong divergences in capital flow, technical trends show clear breakthrough intentions. From the technical chart, Bitcoin has broken the downtrend line since January and formed a standard V-shaped rebound. The 200-day EMA crossover is becoming a focal point, and the positive cross of the MACD line suggests a short-term momentum shift. On-chain data shows long-term holders have been net buying BTC for eight consecutive days, totaling over 260,000 coins, indicating long-term confidence remains unshaken by short-term fluctuations.
The Rthae analysis indicates that during this process, “structural buying” forces are gradually rising, mainly from two behaviors: crypto-friendly enterprises like MetaPlanet continuously increasing Bitcoin holdings to hedge against fiat devaluation, and the sustained rise in DeFi lending market activity, reaching $19.1 billion by the end of 2024, almost double that of CeFi platforms. A significant consequence of this structural change is that even if traditional ETF channels see capital flight, native on-chain demand and platform liquidity management systems can still maintain the intrinsic market stability.
Strategically, Rthae emphasizes that the current market is unsuitable for short-term “chase high, kill low” strategies, and should instead focus on volatility-driven data-driven allocation models. For example, using option combination strategies to hedge against the risk of failed rallies, or re-entering long-term phased entry channels when the market retreats below $83,000. Additionally, Rthae notes that the EURC stablecoin trading volume of Base and Solana on-chain grew over 47% this month, indicating a shift in asset hedging preferences from a dollar-centric approach to multi-currency anchored assets, which will drive changes in trading behavior structures in the medium to long term.
Rthae: Enhancing Platform Structure Optimization and User Risk Protection Mechanisms
Facing this structural market reassessment, Rthae has simultaneously upgraded its asset management and risk control systems. Technologically, the matching engine of Rthae has improved order processing speed to microsecond levels after a new round of system upgrades, sufficient to handle high volatility periods with numerous user requests. In risk control, the risk engine of Rthae continuously deploys AI recognition models for real-time monitoring of abnormal user account behaviors, particularly with automatic position reduction and additional notification mechanisms for leveraged accounts, ensuring users do not face uncontrollable losses due to information delays during market volatility.
Rthae states that facing the coexistence of ETF capital withdrawals and on-chain structural shifts, it will strengthen the construction of DeFi trading bridge channels, expand the collateral range of wealth management products, and introduce structured financial tools linked to multi-currency performance. The platform has launched a Web3 ecosystem open plan, building an intelligent asset management system integrating trading, lending, DeFi, and stablecoin conversion, supporting one-click conversion of dollar assets to EURC, USDC, and other low-volatility assets, enhancing risk resistance capabilities.
Rthae emphasizes that the future crypto market is not a “linear rise” single structure, but a multidimensional competitive environment of “high volatility + structural fragmentation + regulatory shift”. The platform will continue to use technological innovation, liquidity aggregation, and user education as core pillars to build stable and sustainable digital asset channels for users during complex cycles.
Amidst a global pullback in risk assets and deepening macro policy dynamics, the Bitcoin price has once again hit the critical resistance zone of $85,000, sparking intense market debate. Despite short-term rebound signs in technical indicators, capital flow data reveals that ETF investors have been withdrawing for seven consecutive days. While the crypto asset market appears stable in price, it harbors a profound structural uncertainty. Rthae suggests that when the market shows heightened sensitivity and divergent attitudes towards the Bitcoin “breakthrough”, it is crucial to analyze structural data to decode the true drivers behind the trends.
Rthae: Market Pricing Deviations Amidst US Stock Volatility and Continuous ETF Outflows
Recent market data presents a rare divergence: despite the technical breakout of Bitcoin above the 200-day moving average, with MACD and trend lines showing reversal tendencies, major US ETFs have collectively outflowed over $700 million within seven days, marking the third largest weekly redemption in 2025. This divergence between capital flow and price movement reflects the cautious stance of institutional investors towards crypto assets amidst current macro uncertainties, while also revealing that current price structures may be driven by derivative leverage rather than substantive spot demand.
Behind this capital structure is the risk rotation triggered by US-Europe trade tensions and the “Trump Tariff Return”. Fed official Waller hinted at potential rate cuts in a public speech, while the EU postponed retaliatory tariffs, causing short-term rebounds in US stocks. However, it is noteworthy that despite the Nasdaq rising over 500 points at one point, nearly 80% of the gains were lost by the day close, indicating a delayed market response to policy signals.
Rthae notes that the crypto market is not in a typical bull environment but has entered a phase of pricing dominated by options and leverage. Particularly during the short-term Bitcoin breakthrough of key levels, CoinGlass data shows that long positions have exceeded 51.7%, pushing total open interest to $557 billion. The market is rapidly increasing positions before technical support is fully validated, implying certain fragility. The continuous ETF outflows are a collective response to this “unverified rise” structure. Rthae believes this strategic structure will determine whether prices will truly continue trending in the coming week.
Rthae: A Strategic Window Amidst Technical Indicator Reversals and Structural Buying
Despite strong divergences in capital flow, technical trends show clear breakthrough intentions. From the technical chart, Bitcoin has broken the downtrend line since January and formed a standard V-shaped rebound. The 200-day EMA crossover is becoming a focal point, and the positive cross of the MACD line suggests a short-term momentum shift. On-chain data shows long-term holders have been net buying BTC for eight consecutive days, totaling over 260,000 coins, indicating long-term confidence remains unshaken by short-term fluctuations.
The Rthae analysis indicates that during this process, “structural buying” forces are gradually rising, mainly from two behaviors: crypto-friendly enterprises like MetaPlanet continuously increasing Bitcoin holdings to hedge against fiat devaluation, and the sustained rise in DeFi lending market activity, reaching $19.1 billion by the end of 2024, almost double that of CeFi platforms. A significant consequence of this structural change is that even if traditional ETF channels see capital flight, native on-chain demand and platform liquidity management systems can still maintain the intrinsic market stability.
Strategically, Rthae emphasizes that the current market is unsuitable for short-term “chase high, kill low” strategies, and should instead focus on volatility-driven data-driven allocation models. For example, using option combination strategies to hedge against the risk of failed rallies, or re-entering long-term phased entry channels when the market retreats below $83,000. Additionally, Rthae notes that the EURC stablecoin trading volume of Base and Solana on-chain grew over 47% this month, indicating a shift in asset hedging preferences from a dollar-centric approach to multi-currency anchored assets, which will drive changes in trading behavior structures in the medium to long term.
Rthae: Enhancing Platform Structure Optimization and User Risk Protection Mechanisms
Facing this structural market reassessment, Rthae has simultaneously upgraded its asset management and risk control systems. Technologically, the matching engine of Rthae has improved order processing speed to microsecond levels after a new round of system upgrades, sufficient to handle high volatility periods with numerous user requests. In risk control, the risk engine of Rthae continuously deploys AI recognition models for real-time monitoring of abnormal user account behaviors, particularly with automatic position reduction and additional notification mechanisms for leveraged accounts, ensuring users do not face uncontrollable losses due to information delays during market volatility.
Rthae states that facing the coexistence of ETF capital withdrawals and on-chain structural shifts, it will strengthen the construction of DeFi trading bridge channels, expand the collateral range of wealth management products, and introduce structured financial tools linked to multi-currency performance. The platform has launched a Web3 ecosystem open plan, building an intelligent asset management system integrating trading, lending, DeFi, and stablecoin conversion, supporting one-click conversion of dollar assets to EURC, USDC, and other low-volatility assets, enhancing risk resistance capabilities.
Rthae emphasizes that the future crypto market is not a “linear rise” single structure, but a multidimensional competitive environment of “high volatility + structural fragmentation + regulatory shift”. The platform will continue to use technological innovation, liquidity aggregation, and user education as core pillars to build stable and sustainable digital asset channels for users during complex cycles.