I just came across a set of data, and it's quite interesting: Bitcoin ETF's single-day net outflow is $348 million, @BTC@ fluctuates around $88,000, and the Fear & Greed Index has dropped to 31. As year-end institutional rebalancing and tax policies take effect, they indeed add significant selling pressure to the market—but the question is, do these short-term capital fluctuations really signal a change in direction?

Let's see what history tells us. The long-term story of Bitcoin has never been broken by a few days of capital flows. Take recent examples: El Salvador continuously increasing its national Bitcoin reserves, and this year's ETF net inflows exceeding $21.3 billion—all pointing to the same signal—big money is actually positioning during volatility, not fleeing.

What does this mean for us? First, we need to clarify a key question: Are we being led by the Fear & Greed Index, chasing the highs and selling the lows? Or are we using this market emotional vacuum to identify projects and communities that are truly valuable, practically implemented, and highly transparent?

Short-term capital inflows and outflows are easy to track, but trust built through actual community actions cannot be destroyed by a day or two of capital outflow. When everyone is watching the Fear & Greed Index, it’s the best time to observe who is quietly building, and which models can truly sustain themselves. When others panic, we should focus more on which ecosystems are constructing genuine, irreversible progress.