比特幣 ETF 資金流出趨於穩定，但隨著 Genesis 影響減弱，謹慎情緒普遍存在

Bitcoin ETF Outflows Stabilize, But Caution Remains

比特幣 ETF 資金流出趨於穩定，但仍需謹慎

Despite recent net outflows from Bitcoin ETFs, analysts are cautiously optimistic about the potential for inflows. While redemptions have persisted for five consecutive days as of March 23, 2024, the overall outflow magnitude has moderated due to continued accumulation from institutional giants like BlackRock.

儘管近期比特幣 ETF 出現淨流出，但分析師對資金流入的潛力持謹慎樂觀態度。儘管截至2024年3月23日，贖回已連續五天持續，但由於貝萊德等機構巨頭的持續增持，整體流出規模有所放緩。

BlackRock's Continued Faith in Bitcoin

貝萊德對比特幣的持續信心

Amidst recent market turbulence, BlackRock, the world's largest asset manager, has emerged as a beacon of confidence. According to Thomas Fahrer, a prominent crypto analyst, the company acquired an additional 12,500 BTC this week, although the total amount remains undisclosed. Many experts view BlackRock's sustained Bitcoin investments as a positive sign, indicating the firm's belief in the cryptocurrency's long-term potential.

在最近的市場動盪中，全球最大的資產管理公司貝萊德成為了信心的燈塔。著名加密貨幣分析師 Thomas Fahrer 表示，該公司本週額外購買了 12,500 BTC，但具體金額尚未披露。許多專家認為貝萊德持續的比特幣投資是一個積極的信號，表明該公司對加密貨幣的長期潛力充滿信心。

UPDATE Week 11: #BTC ETF Data

第 11 週更新：#BTC ETF 數據

• Total flows: -13.5K #BTC
• New ETFs: +17K #BTC

• Highlights:

  總流量：-13.5K #BTCNew ETF：+17K #BTCHighlights：

  • BlackRock: +12.5K BTC
  • GBTC: -30.5K BTC
  • FBTC: +1.2K BTC
  • Bitwise: +1K BTC

GBTC Outflows Ease, Concerns Linger

貝萊德：+12.5K BTCGBTC：-30.5K BTCFBTC：+1.2K BTCBitwise：+1K BTCGBTC 資金外流有所緩解，擔憂揮之不去

The primary driver of negative inflows this week was Genesis' liquidation process. Grayscale's Bitcoin Investment Trust (GBTC) experienced substantial outflows of over $170 million, likely due to the finalization of Genesis' sales. However, the daily outflow rate has decelerated compared to earlier in the week, suggesting that the impact of the liquidation may be waning.

本週資金負流入的主要驅動因素是 Genesis 的清算過程。 Grayscale 的比特幣投資信託基金 (GBTC) 經歷了超過 1.7 億美元的大幅流出，這可能是由於 Genesis 的銷售最終確定所致。然而，與本週稍早相比，每日流出速度有所放緩，顯示清算的影響可能正在減弱。

Fidelity's Cautious Approach

富達的謹慎態度

Fidelity Investments, a significant player in the Bitcoin ETF market, adopted a cautious approach this week. Their inflows amounted to just $79 million, significantly lower than their usual levels. This may indicate that Fidelity is adopting a wait-and-see approach before committing to further purchases. They may seek greater market clarity before making substantial acquisitions again.

比特幣 ETF 市場的重要參與者富達投資 (Fidelity Investments) 本週採取了謹慎的態度。他們的流入額僅為 7,900 萬美元，大大低於平時的水平。這可能表明富達在承諾進一步購買之前採取觀望態度。在再次進行大規模收購之前，他們可能會尋求更大的市場透明度。

Bitcoin's Price Stabilization After Genesis Turmoil

創世動盪後比特幣價格穩定

Whale Panda, a renowned crypto analyst on Twitter, anticipates that Bitcoin's price will stabilize in the near term. This follows a period of significant volatility triggered by the Genesis liquidation. Whale Panda believes that the market is adjusting to recent developments and finding equilibrium. Once this process is complete, Bitcoin's price may resume its upward trajectory.

Twitter 上著名加密貨幣分析師 Whale Panda 預計，比特幣價格將在短期內穩定。在此之前，Genesis 清算引發了一段時期的大幅波動。 Whale Panda認為，市場正在適應近期的發展並找到平衡。一旦這個過程完成，比特幣的價格可能會恢復上行軌跡。

Bitcoin Halving and ETF Impact

比特幣減半和 ETF 影響

With the Bitcoin halving event just weeks away, questions arise about long-term supply dynamics. Whale Panda estimates that approximately $57.6 million is required daily to purchase all newly mined Bitcoins at a price of $64,000 each. Post-halving, only half of this amount may be necessary, potentially benefiting long-term Bitcoin investors.

距離比特幣減半事件只剩下幾週的時間，關於長期供應動態的問題出現了。 Whale Panda 估計每天大約需要 5760 萬美元才能以每枚 64,000 美元的價格購買所有新開採的比特幣。減半後，可能只需要一半的金額，這可能有利於比特幣的長期投資者。

Conclusion

結論

The Bitcoin ETF market is navigating a period of uncertainty. While negative inflows have raised concerns, the slowdown in outflows and the continued accumulation by major players like BlackRock provide a glimmer of hope. The coming weeks will be critical in determining whether the market can overcome recent headwinds and resume its upward momentum.

比特幣 ETF 市場正在經歷一個不確定的時期。雖然負流入引發了擔憂，但流出放緩以及貝萊德等主要參與者的持續增持帶來了一線希望。未來幾週對於決定市場能否克服近期的不利因素並恢復上行勢頭至關重要。