隨著山寨幣激增，比特幣減半未能引發投資者狂熱

加密貨幣相關投資產品連續第二週出現資金外流，儘管比特幣最近減半，但資金外流仍達 1.92 億美元。然而，短期投資者向市場注入了 30 萬美元，而 Polkadot、Chainlink 和 Litecoin 等山寨幣吸引了投資者的興趣，流入總額超過 700 萬美元。

Bitcoin's Halving Fails to Stem Investor Exodus as Altcoins Gain Ground

隨著山寨幣的崛起，比特幣減半未能阻止投資者撤離

Despite the recent halving event, which typically sparks a surge in excitement within the cryptocurrency market, Bitcoin has witnessed a lackluster response, with investors fleeing to alternative cryptocurrencies known as altcoins. This has resulted in a net outflow of $206 million from crypto-related investment products, marking the second consecutive week of outflows.

儘管最近發生的減半事件通常會引發加密貨幣市場的興奮激增，但比特幣的反應卻很平淡，投資者紛紛轉向被稱為山寨幣的替代加密貨幣。這導致加密貨幣相關投資產品淨流出 2.06 億美元，連續第二週出現流出。

Observers attribute this shift in investor sentiment to several factors, including dwindling interest in exchange-traded funds (ETFs) and exchange-traded products (ETPs) that track Bitcoin's performance. Market analysts believe that speculation about potential delays in interest rate cuts by the Federal Reserve has dampened investor enthusiasm.

觀察家將投資者情緒的這種轉變歸因於幾個因素，包括對追蹤比特幣表現的交易所交易基金（ETF）和交易所交易產品（ETP）的興趣下降。市場分析師認為，有關聯準會可能推遲降息的猜測削弱了投資人的熱情。

Furthermore, trading volumes in Bitcoin ETFs and ETPs have declined significantly, indicating a reduced reliance on these instruments to gain exposure to the cryptocurrency. According to CoinShares, the research firm behind the weekly report, trading volumes have fallen from 55% of total Bitcoin volumes a month ago to 28% currently.

此外，比特幣 ETF 和 ETP 的交易量大幅下降，顯示人們對這些工具獲取加密貨幣的依賴減少。根據每週報告背後的研究公司 CoinShares 的數據，交易量佔比特幣總交易量的比例已從一個月前的 55% 下降至目前的 28%。

In contrast to Bitcoin's subdued performance, altcoins have gained traction among investors. Lesser-known cryptocurrencies such as Chainlink, Polkadot, Litecoin, Cardano, and XRP collectively attracted over $7 million in inflows last week. This suggests a growing appetite for diversification and a willingness to explore alternative investment opportunities within the cryptocurrency market.

與比特幣的低迷表現相反，山寨幣受到了投資者的青睞。 Chainlink、Polkadot、Litecoin、Cardano 和 XRP 等不太知名的加密貨幣上週總共吸引了超過 700 萬美元的資金流入。這表明人們對多元化的興趣不斷增長，並且願意在加密貨幣市場中探索其他投資機會。

Ethereum, the second-largest cryptocurrency by market capitalization, has also experienced a downturn, with outflows totaling $34 million last week. This marks the sixth consecutive week of outflows for Ethereum, bringing its month-to-date flow to a negative $85 million.

以市值計算的第二大加密貨幣以太坊也經歷了低迷，上週資金流出總額為 3,400 萬美元。這標誌著以太坊連續第六週出現資金流出，使其本月迄今的資金流量達到負 8,500 萬美元。

Solana, another popular cryptocurrency, has faced more modest outflows of $300,000, while blockchain equities have recorded their 11th consecutive week of outflows, reaching $9 million. Analysts believe that investor concerns about the impact of mining halving on mining companies have contributed to the outflows from blockchain equities.

另一種流行的加密貨幣 Solana 面臨 30 萬美元的溫和流出，而區塊鏈股票已連續 11 週流出，達到 900 萬美元。分析師認為，投資人對挖礦減半對礦業公司影響的擔憂，導致了區塊鏈股票的資金流出。

James Butterfill, Head of Research at CoinShares, emphasized that the outflows from crypto-related investment products signify a decline in investor interest. He noted that this trend coincides with speculation regarding potential delays in interest rate cuts by the Federal Reserve.

CoinShares 研究主管 James Butterfill 強調，加密貨幣相關投資產品的資金流出意味著投資者興趣的下降。他指出，這一趨勢與聯準會可能推遲降息的猜測不謀而合。

The shift in investor focus towards altcoins is a testament to the growing maturity and diversity of the cryptocurrency market. As investors seek alternative sources of return and diversification, altcoins are emerging as viable options, offering unique value propositions and the potential for significant gains.

投資者註意力轉向山寨幣證明了加密貨幣市場的日益成熟和多樣性。隨著投資者尋求替代的回報來源和多元化，山寨幣正在成為可行的選擇，提供獨特的價值主張和巨大收益的潛力。

While Bitcoin's dominance remains strong, the recent outflows and increasing interest in altcoins suggest that investors are becoming more discerning and are actively seeking opportunities beyond the established market leaders. It remains to be seen how Bitcoin will respond to this changing market dynamic and whether it can regain investor confidence and attract inflows in the near future.

儘管比特幣的主導地位仍然強勁，但最近的資金外流和對山寨幣的興趣日益濃厚，顯示投資者變得更加敏銳，並正在積極尋找既定市場領導者之外的機會。比特幣將如何應對這種不斷變化的市場動態，以及能否在不久的將來重拾投資者信心並吸引資金流入，還有待觀察。