#市场流动性状况 Recently, I was looking at on-chain data and got a bit confused. Net capital outflow of -4.5 billion USD? What does that mean? 😅 Does it mean money is flowing out rather than in?

I just saw an analyst say that Bitcoin might have a short-term rebound, and I was quite excited. But then they said it could be a "dead cat bounce"… I understand this metaphor now; it sounds like a trap. What's more upsetting is that ETF net outflows over the past two weeks have reached 1 billion USD, which feels like the market's enthusiasm is clearly waning.

I'm a bit conflicted now—looks like the rebound might be driven by leverage, and actual spot demand might be insufficient? If that's the case, it could easily attract beginners to chase the high and get caught, so this risk definitely needs to be watched. If capital continues to flow out, there's a real possibility that prices could drop even lower.

I'd like to ask everyone—under these capital outflow conditions, is it safer for beginners to stay on the sidelines, or is it okay to buy the dip? It seems that the change in market liquidity has a pretty big impact on our judgment 🤔