PANews reported on February 25th that, according to a Bitfinex Alpha report, the Bitcoin market remains in a downtrend within a high time frame due to weak inflows into Bitcoin spot ETFs and continued selling by large investors. The report points out that although Bitcoin has rebounded 20% from its low on February 5th, a bottom has not yet been confirmed. So far this year, US Bitcoin spot ETFs have seen a net outflow of $2.6 billion, with institutional investors' "ETF weakness" exacerbating selling pressure. On-chain data shows that approximately 64% of inflows into exchanges currently come from large holders (whales), a new high since October 2015. Furthermore, influenced by US tariff policies and macroeconomic uncertainties, options traders are again paying a premium for downside risk, leading to a cautious market sentiment. Currently, the $53,000 realized price is considered a key support level for the medium-term market.