#ETH走势分析 $BTC $ETH

After a long period of silence, there is finally a breakthrough for the Bitcoin spot ETF. Data from November 28 shows that net inflows reached 71.37 million USD — this marks three consecutive trading days of positive flow. Accompanying this warm wave, BTC prices have stabilized around 91,200 USD, with a slight increase of 0.72% over 24 hours.

Interestingly, this round of recovery is not a full bloom. A product under a leading institution still saw over $100 million withdrawn that day, but ARKB attracted $88 million and Fidelity's FBTC recorded $77.5 million in inflows, indicating that buying power is regrouping. A more critical signal comes from the Coinbase premium index—it has ended a 22-day period of negative values, meaning that the selling pressure from U.S. institutions has significantly weakened.

The technical aspects are also cooperating. The hourly MACD has just formed a golden cross, and the RSI has climbed to 65, suggesting that the bulls seem to have regained their rhythm. Since the deep V rebound from $81,000, the $89,000-$90,000 defense line appears particularly solid. If it can surpass the hurdle of $91,500, the next stop might be $93,500.

The actions of institutions are also worth pondering. The holders of a leading product have seen their floating profits return to 3.2 billion USD, and NASDAQ has proposed significantly relaxing its options position limits—this is regarded by many as a barometer of a more lenient regulatory stance. Coupled with the rising expectations for a Federal Reserve interest rate cut, the card of liquidity is slowly beginning to take effect.

Of course, the short-term RSI has already touched the overbought edge, and a technical pullback could happen at any time. However, the combination of capital inflow and technical resonance at least gives this rebound a bit more confidence.

As for whether this is a prelude to a bull market or a rebound to lure in more buyers? The market will provide the answer, let's watch and discuss.