The current market sentiment is moderately optimistic, with the Fear & Greed index reaching 56 points, reflecting a slight rebound in investor confidence, but caution remains. This sentiment is mainly supported by expectations of a possible rate cut by the Fed and the inflow of institutional funds, while also being affected by geopolitical factors, such as the uncertainty brought about by the US-Russia summit.

In terms of cryptocurrency prices, Bitcoin's latest quote is $117,524, with a slight increase of 0.45% over the past 24 hours. This rise is related to Fed official Daly hinting that there could be two interest rate cuts this year, stimulating investor demand for risk assets. In contrast, Ethereum's price is $4,399.21, down 4.65% over the past 24 hours, mainly affected by the ongoing selling by the Ethereum Foundation and the net outflow of ETF funds.

On-chain data shows that the Ethereum Foundation sold 1,100 ETH for 4.89 million DAI stablecoins in the past 24 hours, accumulating a total sale of 7,294 ETH over three days. Meanwhile, Bitmine increased its holdings by 135,135 ETH, bringing its total holdings to 1.297 million ETH, valued at approximately 5.77 billion dollars. Additionally, the WLFI project transferred 3.58 billion WLFI tokens to Bitgo custody.

On the institutional investor side, the U.S. spot Bitcoin ETF saw a net outflow of $14.02 million yesterday, while the Ethereum ETF experienced a net outflow of $58.05 million. Grayscale's GBTC and ETHE products saw outflows of $81.8 million and $100 million, respectively. This outflow of funds intensified short-term selling pressure in the market, leading to a correction in the prices of major cryptocurrencies. However, some large institutions like Brevan Howard still hold $2.3 billion worth of IBIT, demonstrating long-term confidence in the market.

Overall, despite some fluctuations and capital outflows in the short term, the continued participation of institutional investors and their long-term positioning indicate that the market maintains a positive outlook on the future development of crypto assets. Investors should closely monitor changes in macroeconomic policies and the flow of institutional funds to better grasp market trends.