比特幣主導流入，而以太坊掙扎

圍繞加密貨幣的投資格局發生了變化。上週，數字資產投資產品記錄了6.44億美元的大量流入

Last week saw digital asset investment products post an interesting development: a return to inflows, specifically totaling $644 million, Invictus Capital reports.

上週，數字資產投資產品發布了一個有趣的發展：Invictus Capital Reports的流入回報，特別是6.44億美元。

This marks a departure from the previous five weeks, which had seen outflows.

這標誌著過去五個星期的出發，出現了流出。

The latest figures from Invictus Capital, a digital asset investment firm, show that a substantial portion of the recent inflows went into Bitcoin (BTC). The world’s largest cryptocurrency enchained new investments of $724 million.

數字資產投資公司Invictus Capital的最新數據表明，最近流入的很大一部分進入了比特幣（BTC）。世界上最大的加密貨幣佔7.24億美元的新投資。

Those sti ll interested in Solana (SOL) seem to be sticking with the token. A small amount of fresh capital went into Solana, which had inflows of $6.4 million.

那些對Solana（Sol）感興趣的人似乎堅持了令牌。 Solana的少量新資本進入了640萬美元的流入。

Bitcoin Dominates Inflows, While Ethereum Struggles

比特幣主導流入，而以太坊掙扎

Bitcoin’s strong showing in pulling in new investments demonstrates that the digital asset’s appeal is as strong as ever, even in today’s increasingly uncertain economic climate. The total dollar amount-$724 million-for new inflows into Bitcoin across nearly all fund types in mid-July is both striking and a bit head-scratching, considering not only the market’s recent volatility but also the increasingly negative narrative being pushed about Bitcoin and other cryptocurrencies.

比特幣在推動新投資方面的強烈表現表明，即使在當今日益不確定的經濟環境中，數字資產的吸引力也一如既往地強烈。在7月中旬，幾乎所有基金類型的新資金幣的全新流入量為7.24億美元，這既令人震驚又令人頭疼，這不僅是市場最近的波動性，而且考慮到越來越多的負面敘述被推向比特幣和其他加密貨幣。

Here are the details.

這是細節。

Money flowing into Bitcoin showcases how people are increasingly favouring not just digital assets but, more specifically, those that provide a reliable store of value. Of all the digital assets available today, Bitcoin is the most popular and the one that seems to be doing the best in not just surviving, but thriving, under adverse economic conditions.

流入比特幣的資金展示了人們如何不僅偏愛數字資產，而且更具體地說，那些提供了可靠的價值存儲。在當今可用的所有數字資產中，比特幣是最受歡迎的資產，並且似乎在不利的經濟條件下不僅生存，而且蓬勃發展。

Conversely, the cryptocurrency that ranks second in market capitalization, Ethereum (ETH), had $86 million flow out. This may stem from several issues, not least of which is the platform’s apparent inability to scale, a problem that some expect will be partially addressed by an upcoming upgrade.

相反，在市值以太坊（ETH）中排名第二的加密貨幣的流量為8600萬美元。這可能源於幾個問題，尤其是該平台明顯無法擴展，這一問題有些人期望這一問題將通過即將進行的升級來部分解決。

Whatever the reason, investors in recent months have been moving money out of Ethereum. As they have, it has seen increased competition from other platforms like Solana, which has very favourable sentiment and is building out an ecosystem.

無論出於何種原因，最近幾個月的投資者都將錢從以太坊移出。正如他們所擁有的那樣，索拉納（Solana）等其他平台的競爭增加了，這種平台具有非常有利的情緒，並且正在建立一個生態系統。

Strategic Bitcoin Purchases Continue to Gain Traction

戰略性比特幣的購買繼續獲得吸引力

One of the most notable recent events in the digital asset arena is a substantial Bitcoin acquisition by a major investment strategy. Between March 17 and March 23, the strategy bought 6,911 Bitcoins at an average price of $84,529 per coin-a total outlay of $584.1 million.

數字資產領域中最著名的事件之一是通過主要投資策略的大量比特幣收購。在3月17日至3月23日之間，該策略以平均價格購買了6,911個比特幣，每枚硬幣A總支出為5.841億美元。

This looks very much like a vote of confidence in Bitcoin’s long-term enduring value, even at these higher price levels.

即使在這些較高的價格水平上，這看起來非常像對比特幣長期持久價值的信心投票。

Strategy has acquired 6,911 BTC for ~ $584.1 million at ~ $84,529 per bitcoin and has achieved BTC Yield of 7.7% YTD 2025. As of 3/23/2025, we hould 506,137 $BTC acquired for ~ $33.7 billion at ~ $66,608 per bitcoin. $MSTR $STRK

策略以約5.841億美元的價格收購了6,911 BTC，每個比特幣$ 84,529，其BTC收益率為7.7％YTD 2025。截至2025年3月23日，我們以〜337億美元的價格收購了506,137美元的BTC，以〜666,608 $ 66,608的比例購買。 $ MSTR $ strk

— Strategy (@Strategy) March 24, 2025

- 策略（@Strategy）2025年3月24日

Currently, this strategy has amassed 506,137 Bitcoins at an aggregate purchase cost of around $3.37 billion. The average purchase price for these Bitcoins is $66,608 per coin, which highlights the strategy’s commitment to acquiring Bitcoin at a diversity of price points in the market.

目前，該策略已積累了506,137個比特幣，總購買成本約為33.7億美元。這些比特幣的平均購買價格為每枚硬幣的66,608美元，這突出了該策略希望以市場價格多樣性獲得比特幣的承諾。

These colossal Bitcoin buys are part of a larger trend whereby institutional investors and big-name asset managers are upping their ante in Bitcoin. This is not a speculative, short-term trade. These guys appear to be betting on Bitcoin appreciation over the long haul. The latest digital asset to get the thumbs-up from the investment community, Bitcoin thus far enjoys a stellar 2021.

這些巨大的比特幣購買是一個更大趨勢的一部分，在這種趨勢中，機構投資者和大牌資產經理正在將其賭注提高到比特幣中。這不是投機性的短期貿易。從長遠來看，這些傢伙似乎一直在押注比特幣的欣賞。迄今為止，比特幣是投資界大拇指的最新數字資產，享有2021年出色的數字資產。

A Mixed Market Outlook

混合市場前景

Bitcoin is leading the way in this regard, but we have a more nuanced outlook for the performance of other cryptocurrencies, which have been mixed. For example, outflows from Ethereum could be a temporary setback, as the platform continues to undergo upgrades aimed at improving its scalability and efficiency. Indeed, the Ethereum 2.0 upgrade that is happening right now, which includes the switch to a proof-of-stake consensus mechanism, could very well address some of the platform’s issues and help improve it over the next few months, potentially turning the tide for investors.

在這方面，比特幣正在領先，但是我們對其他加密貨幣的表現有更加細微的前景。例如，以太坊的流出可能是暫時的挫折，因為該平台繼續進行旨在提高其可擴展性和效率的升級。的確，現在正在發生的以太坊2.0升級，其中包括轉向驗證證明的共識機制，可以很好地解決該平台的某些問題，並在接下來的幾個月內有助於改善它，從而有可能為投資者帶來潮流。

Altogether, Solana’s $6.4 million inflows mark a very small chunk of the overall market; however, this asset is making strides as an alternative smart contract platform to Ethereum, which is viewed as the industry standard. On its own, Solana is posting numbers that shouldn’t necessarily be a cause for concern, because, even with its low inflows, it has still managed to rack up a competitive platform status against Ethereum itself. Its presence as a low-risk investment avenue is also noteworthy.

總共，索拉納（Solana）的640萬美元流入標誌著整個市場中很小的一小部分。但是，該資產是作為以太坊的替代智能合約平台而大步向前的，該平台被視為行業標準。 Solana本身就是發布不一定是令人關注的原因的數字，因為即使流入率低，它仍然設法在針對以太坊本身的競爭平台狀態中提高了競爭性的平台狀態。它作為低風險投資大道的存在也值得注意。

Conclusion: Renewed Optimism for Digital Assets

結論：對數字資產的樂觀情緒