比特幣 ETF 見證 9 億美元大規模資金外流

比特幣交易所交易基金（ETF）本週經歷了大量資金流出，總計近 9 億美元。灰階比特幣 ETF (GBTC) 是造成資金外流的主要因素，自 2024 年 1 月推出以來，資金外流已達 140 億美元。資金外流恰逢比特幣（BTC）價格回調和更廣泛的加密貨幣市場崩盤。儘管資金流出，貝萊德的現貨比特幣 ETF (IBIT) 的淨流入仍然很少，減輕了一些負面影響。

Outflows Galore: Bitcoin ETFs Hit by $900 Million Exodus

大量資金外流：比特幣 ETF 損失達 9 億美元

With a whopping $900 million disappearing from Bitcoin Exchange-Traded Funds (ETFs) this week, the question on everyone's mind is: What's going on? And who's responsible for this massive sell-off?

本週，比特幣交易所交易基金 (ETF) 中損失了 9 億美元，每個人都在思考：到底發生了什麼事？誰該為這次大規模拋售負責？

Spot Bitcoin ETFs: A Tale of Woe

現貨比特幣 ETF：一個悲慘的故事

Spot Bitcoin ETFs, which track the price of the digital currency in real time, have been hit particularly hard. Over $888 million has flowed out of these funds, with Friday alone witnessing a $51.6 million net outflow. Grayscale's Bitcoin ETF (GBTC) has been the biggest culprit, hemorrhaging a staggering $14 billion since its January 2024 launch.

即時追蹤數位貨幣價格的現貨比特幣 ETF 受到的打擊尤其嚴重。這些基金已流出超過 8.88 億美元，光是週五就淨流出 5,160 萬美元。 Grayscale 的比特幣 ETF (GBTC) 是最大的罪魁禍首，自 2024 年 1 月推出以來，損失了驚人的 140 億美元。

GBTC's Persistent Pain

GBTC 持續的痛苦

GBTC's woes continued unabated this week, with another $359 million outflow on Thursday, bringing the total for the week to a staggering $1.8 billion. On Wednesday, it suffered a single-day outflow of $386 million, a sobering reminder of its persistent struggles.

GBTC 的困境本周依然有增無減，週四又流出 3.59 億美元，使本週總資金流出達到驚人的 18 億美元。週三，該公司單日資金流出 3.86 億美元，這讓人清醒地意識到其持續的掙扎。

BlackRock's Bright Spot

貝萊德的亮點

Amidst the gloomy outflows, BlackRock's Spot Bitcoin ETF (IBIT) has emerged as a beacon of hope. Despite minimal inflows, it has managed to mitigate some of the negative impact on the market. Analyst Michael van de Poppe sees BlackRock's consistent inflows as a sign that institutional buying activity is still ongoing, suggesting that the market cycle is far from over.

在資金流出慘澹的背景下，貝萊德的現貨比特幣 ETF (IBIT) 成為了希望的燈塔。儘管資金流入很少，但它已成功減輕了對市場的一些負面影響。分析師 Michael van de Poppe 認為，貝萊德持續的資金流入顯示機構購買活動仍在持續，顯示市場週期遠未結束。

Consecutive Days of Outflows

連續幾天資金流出

The pain didn't end there. Bitcoin ETFs experienced consecutive days of outflows, with Tuesday seeing a $326 million exodus. GBTC's woes persisted, with a massive $444 million outflow on Tuesday.

痛苦並沒有就此結束。比特幣 ETF 連續多日流出，週二流出 3.26 億美元。 GBTC 的困境依然存在，週二資金流出量高達 4.44 億美元。

Institutional Caution

機構謹慎

Institutional investors seemed cautious ahead of the Federal Open Market Committee (FOMC) decision on March 20, which reflected in subdued inflows across most ETFs.

在 3 月 20 日聯邦公開市場委員會 (FOMC) 做出決定之前，機構投資者似乎持謹慎態度，這反映在大多數 ETF 的資金流入減少。

Bitcoin's Price Volatility

比特幣的價格波動

Bitcoin's price has also been on a wild ride lately. After hitting an all-time high of $73,836 earlier this month, it plummeted to below $61,000 before rebounding back above $67,000. However, it has since retreated to the $65,000 level again.

比特幣的價格最近也一直在瘋狂上漲。在本月稍早觸及 73,836 美元的歷史高點後，它暴跌至 61,000 美元以下，然後反彈至 67,000 美元上方。然而，此後又回落至 65,000 美元的水平。

Short Squeeze Relief

短擠壓救濟

Amidst the volatility, Bitcoin has seen a short squeeze, with nearly $30.68 million in short liquidations out of a total of $48.31 million. This forced short traders to buy back their positions to mitigate potential losses, which could provide a temporary boost to the price. However, a massive correction could follow later.

在波動中，比特幣出現了軋空，總計 4,831 萬美元的空頭清算中有近 3,068 萬美元。這迫使空頭交易者回購頭寸以減輕潛在損失，這可能會暫時提振價格。然而，稍後可能會出現大規模調整。

Crypto Market Crash

加密貨幣市場崩盤

The crypto market as a whole has also been in a downward spiral. Ethereum (ETH) has crashed below $3,200 from its recent high of $4092. Solana (SOL) has also taken a hit, slumping below $180 despite surging past $200 earlier this month.

整個加密貨幣市場也一直處於螺旋式下降之中。以太幣 (ETH) 從近期高點 4092 美元跌破 3200 美元。 Solana (SOL) 也受到了打擊，儘管本月初飆升至 200 美元以上，但仍跌至 180 美元以下。