比特幣（BTC）和以太坊（ETH）交易所交易基金（ETF）的性能分歧

加密貨幣市場，其特徵是其動態且通常是不可預測的本質

The cryptocurrency market is heating up, with interesting developments unfolding in the world of exchange-traded funds (ETFs). In a surprising turn of events, U.S. Bitcoin (BTC) ETFs experienced a single-day outflow on March 28, breaking a streak of positive momentum. On the other hand, U.S. Ethereum (ETH) ETFs managed to eke out incremental gains, though this positivity was largely concentrated within a single fund.

加密貨幣市場正在加熱，在交易所買賣基金（ETF）的世界中，有趣的發展正在發展。在一個令人驚訝的事件中，美國比特幣（BTC）ETF在3月28日經歷了單天的流出，打破了積極的勢頭。另一方面，美國以太坊（ETH）ETF設法取得了漸進率的收益，儘管這種積極性主要集中在單個基金中。

As for XRP, it’s currently battling bearish pressures and struggling to maintain its footing near the $2 price level.

至於XRP，它目前正在與看跌壓力作鬥爭，並努力保持其2美元價格水平的地位。

Here’s a closer look at these developments:

這是對這些發展的仔細研究：

Bitcoin ETF Outflow: A Temporary Setback or a Sign of Shifting Sentiment?

比特幣ETF流出：臨時挫折或轉移情感的跡象？

The previously unbroken stretch of positive momentum for U.S. Bitcoin ETFs came to an abrupt halt on March 28, as a $93.16 million withdrawal was reported by sosovalue.com. This outflow, which occurred entirely within Fidelity’s FBTC fund, broke a pattern of consistent inflows that had characterized the Bitcoin ETF market since the debut of the first such fund on January 11, 2024.

以前對美國比特幣ETF的積極勢頭的不間斷勢頭於3月28日突然停止，因為Sosovalue.com報告了9316萬美元的撤回。自2024年1月11日第一個此類基金首次亮相以來，這種流出完全發生在Fidelity的FBTC基金中，打破了一致的流入模式。

Despite this single-day setback, the overall performance of Bitcoin ETFs remains formidable. Since their inception, these funds have amassed a staggering $36.24 billion in net inflows, showcasing the enduring appeal of Bitcoin ETFs to both institutional and retail investors.

儘管有一個單日的挫折，但比特幣ETF的總體表現仍然令人震驚。自成立以來，這些資金積累了驚人的362.4億美元的淨流入，展示了比特幣ETF對機構和零售投資者的持久吸引力。

Friday’s trading session saw $2.22 billion change hands across the dozen Bitcoin ETFs, even as the cohort’s aggregate BTC holdings settled at $94.39 billion post-outflow, now commanding 5.68% of Bitcoin’s total market value.

週五的交易會議在數十個比特幣ETF中換了22.2億美元，即使該隊列的總BTC持有量達到了943.9億美元的郵政流，現在佔比特幣總市場價值的5.68％。

This outflow can be attributed to a single fund, Fidelity’s FBTC, which saw the entire $93.16 million exit during the session. In contrast, the remaining eleven Bitcoin ETFs experienced no net activity, suggesting that specific factors may be contributing to the outflow from Fidelity’s fund.

此流出可以歸因於單一基金Fidelity的FBTC，該基金在會議期間看到了整個9,316萬美元的退出。相比之下，其餘11個比特幣ETF沒有淨活動，這表明特定因素可能導致了富達基金的流出。

The question remains whether this $93.16 million outflow represents a temporary blip or a sign of shifting investor sentiment. While the overall trend remains positive, the concentration of the outflow within a single fund suggests that specific factors may be at play, warranting close monitoring of future ETF flows.

問題是，這筆9316萬美元的流出是否代表了暫時的臨時性或轉移投資者情緒的跡象。儘管總體趨勢仍然是積極的，但單個基金中流出的濃度表明特定因素可能正在發揮作用，需要密切監視未來的ETF流量。

Chart 1: U.S. Bitcoin ETF Flows

圖1：美國比特幣ETF流

Source: Sosovalue.com

資料來源：sosovalue.com

Ethereum ETF Gains: A Solitary Bright Spot Amidst Market Uncertainty

以太坊ETF收益：在市場不確定性中孤立的亮點

In a divergence from the Bitcoin ETF trends, U.S. Ethereum ETFs chartered a steadier course, managing to eke out incremental gains despite a lack of net activity in eight out of the nine funds. This positive performance was largely concentrated within Grayscale’s ETHE fund, which absorbed $4.68 million in inflows. The remaining eight Ethereum ETFs experienced no net activity during the trading session.

在與比特幣ETF趨勢的分歧中，美國以太坊ETF租用了一個穩定的過程，儘管在九項資金中八分之八的淨活動缺乏淨活動。這種積極的表現主要集中在Grayscale的Ethe基金中，該基金吸收了468萬美元的流入。其餘八個以太坊ETF在交易期間沒有淨活動。

As seen in the chart below, the nine-fund alliance is now safeguarding $6.42 billion in ether reserves, constituting approximately 2.84% of Ethereum’s aggregate valuation.

如下圖所示，九基金會聯盟現在正在維護64.2億美元的以太儲備，佔以太坊總估值的約2.84％。

Chart 2: U.S. Ethereum ETF Flows

圖2：美國以太坊ETF流

Source: Sosovalue.com

資料來源：sosovalue.com

The concentration of inflows within Grayscale’s ETHE fund suggests that specific factors may be driving investor interest in this particular fund. While the overall Ethereum ETF market remains relatively stable, the lack of broader participation across all funds raises questions about the strength of investor conviction in Ethereum ETFs.

Grayscale Ethe基金中流入的集中度表明，特定因素可能會引起投資者對該特定基金的興趣。儘管總體以太坊ETF市場仍然相對穩定，但所有基金中缺乏更廣泛的參與會引發有關以太坊ETF中投資者信念的實力的問題。

XRP Price Analysis: Struggling Near $2

XRP價格分析：掙扎接近$ 2

XRP is currently trading in a narrow range between $2.11 and $2.13, battling bearish pressures and struggling to hold above the $2 price zone. The cryptocurrency’s market capitalization stands at $123 billion, with a 24-hour trading volume of $3.39 billion.

XRP目前的交易範圍在2.11美元至2.13美元之間，與看跌壓力作鬥爭，並努力持有超過2美元的價格區。加密貨幣的市值為1,230億美元，交易量為33.9億美元。

Looking at the one-hour chart, minor signs of recovery are visible as XRP price bounced off the $2.06 support level. However, resistance near the $2.15 to $2.2 zone has limited further gains, making it a critical level for bulls to break.

從一小時的圖表中看，由於XRP價格從2.06美元的支持水平彈起，因此可以看到較小的恢復跡象。但是，接近2.15美元至2.2美元的區域的阻力限制了進一步的收益，這使得公牛隊打破的水平至關重要。

The four-hour chart showcases a clear downtrend, characterized by a series of red candles and occasional bullish pullbacks. Volume analysis reveals strong sell-offs, though recent sessions reflect moderate recovery. Support remains strong at $2.06, and resistance in the $2.3 to $2.4 zone is proving formidable.

四小時的圖表顯示了一個明顯的下降趨勢，其特徵是一系列紅色蠟燭和偶爾的看漲回調。數量分析表明，儘管最近的會議反映了中等的恢復，但銷售強烈。支持仍然有2.06美元的強勁增長，並且在2.3美元至2.4美元的區域中的阻力證明了強大的。

The daily chart further emphasizes a bearish market structure, with XRP forming lower highs and lower lows. The $1.9 level acts as a significant support zone, while resistance near $2.5 continues to challenge upward movements. Daily volume patterns favor sellers, suggesting weak follow-through on rallies.

每日圖表進一步強調了看跌的市場結構，XRP形成較低的高點和較低的低點。 $ 1.9的水平是一個重要的支撐區，而電阻接近2.5美元則繼續挑戰向上的移動。每日數量模式有利於賣方，這表明對集會的跟進較弱。

Technical Analysis: A Predominantly Bearish Outlook

技術分析：主要是看跌的前景

Oscillator readings indicate an overall neutral-to-bearish sentiment. The relative strength index (RSI) sits at 40.14, suggesting neutral momentum without clear over

振盪器的讀數表明總體中性到偏見​​的情緒。相對強度指數（RSI）位於40.14，表明中性動量而不清楚