According to CoinMarketCap, spot Bitcoin ETFs recorded $782 million in outflows during Christmas week, with Kronos Research CIO Vincent Liu attributing the move to holiday positioning and thinner liquidity rather than weakening institutional demand (source: CoinMarketCap). According to CoinMarketCap citing Vincent Liu, the flows reflect seasonal market conditions, suggesting outflows may not indicate a structural shift in BTC demand (source: CoinMarketCap). According to CoinMarketCap, traders should note the context that reduced liquidity can magnify flow-driven moves, but Liu’s view implies the impact is likely transitory rather than fundamental (source: CoinMarketCap).