Support around 91088-90282 for long positions; rebound targets can be set at 94700-97400.

ETH

Analysis

In the past three months, net inflows into US ETFs have exceeded $400 billion. Much of the ETF capital comes from 401(k)s, pensions, advisory models, target date funds, and rebalancing. These funds do not consider "expensive" or "cheap," but rather buy when they believe the time is right, which indicates that the trend has already started.

Although this money has entered US stock ETFs, it does not mean the entire market is being bought equally. Ultimately, more will flow back into the largest-weighted indices, especially large-cap and tech-heavy assets. This generally reflects that these funds see a soft landing for the US economy, expectations of rate cuts, AI productivity narratives, cash migrating from short-term bonds, and overseas funds chasing dollar assets.

To put it simply, while many small investors still believe we are in a bear market, over $400 billion is already starting to bottom fish. They are willing to believe that the trend will be better by 2026.

Support around 3157-3133 for long positions; rebound targets can be set at around 3245.