ChainCatcher news, WhaleWire founder Jacob King posted on social media that the Bitcoin bear market has arrived. The failure of Bitcoin's strategic reserves clearly indicates that, apart from the confiscated Bitcoins, there was never any intention to purchase any other assets. Meanwhile, the narrative of institutional demand has collapsed, as evidenced by record outflows from ETFs. All narratives have shattered------each and every one.Bitcoin extremists attract new retail funds into the bubble by creating illusions, but they have exhausted their tricks. Bitcoin is heading towards a multi-year bear market, falling to levels once thought impossible. If you have already invested, I strongly advise you to sell all your assets now; if you wish, you can buy back after a drop of over 85%.

ChainCatcher news, according to Lookonchain monitoring, on January 13, the U.S. Bitcoin ETF had a net outflow of 1,509 BTC ($138.89 million), and the Ethereum ETF had a net outflow of 24,393 ETH ($74.37 million).