In the past week, the cryptocurrency market has shown an interesting pattern of capital flow. Ethereum (ETH) related ETF products have performed positively overall, showing a net inflow trend. Specific data shows that the ETH ETF attracted $306.6 million in new funds, while $154 million flowed out, ultimately achieving a positive net inflow.

In contrast, the Bitcoin (BTC) ETF is facing significant pressure, experiencing the second-largest single-day capital outflow recently. Despite an inflow of $284.2 million, there was simultaneously a withdrawal of as much as $927 million, resulting in a substantial net outflow for the BTC ETF overall.

This starkly different flow of funds has had a significant impact on the market performance of the two major cryptocurrencies. Bitcoin has experienced a price drop due to a large outflow of funds, which aligns with market expectations. However, interestingly, despite the overall net inflow of the Ethereum ETF, its price has also declined.

Analyzing this phenomenon, there are mainly two reasons: first, Bitcoin, as the market leader, often influences the price trends of the entire encryption market, including other digital assets like Ethereum. Second, the Ethereum Foundation's reduction of holdings has also put some pressure on the market.

This complex market dynamic highlights the intricacies of cryptocurrency investment. Investors need to closely monitor the interactions between different crypto assets, as well as the movements of major institutions, to better understand and predict market trends. In the future, as ETF products continue to develop and mature, we may see more interesting patterns of capital flow, which will undoubtedly bring new opportunities and challenges to the market.