📊 ONCHAIN UPDATE
🔴 ETFs Continue to See Heavy Withdrawals
The trading session on 5/29 marks the 10th consecutive day of outflows from Bitcoin ETFs in the U.S., with total capital exiting the market reaching nearly 3 billion USD since mid-May. Meanwhile, Ethereum ETFs have also recorded 13 consecutive negative sessions.
This is the most significant withdrawal of Bitcoin ETFs since BTC hit its cycle peak in 2025, indicating that institutions are still maintaining a cautious mindset and showing no signs of returning to the market.
🔻 Onchain Leverage Continues to Decline
The total borrowing volume on DeFi protocols has dropped from 26 billion USD to 25.5 billion USD in the past week, with most liquidity still concentrated in Aave.
This trend reflects the defensive sentiment of crypto investors operating onchain, which could potentially create short-term pressure on the DeFi project group as the demand for leverage continues to weaken.
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