摩根大通：ETF 资金流出放缓，加密市场抛售或已接近底部

Group 1 - The core viewpoint of the article is that the cryptocurrency market's sell-off may be nearing its bottom as the outflow of funds from spot ETFs slows down [1] - JPMorgan analysts indicate that despite recent market volatility, the holding data for Bitcoin futures on the Chicago Mercantile Exchange (CME) does not show significant deleveraging signs, suggesting that institutional investors are not making large-scale withdrawals [1] - The report suggests that if the trend of ETF outflows continues to improve, the market may stabilize and rebound in the short term, although close attention should be paid to changes in macroeconomic data [1]