聯準會言論引發 ETF 大規模流出後，比特幣市值縮水 500B 美元

急劇下跌是由多種因素共同造成的，包括聯準會最近對利率的強硬立場以及更廣泛的市場不安

Bitcoin (BTC) price action took a steep downturn last week, dropping over 10% in just seven days. The downturn began after the Federal Reserve announced its decision to raise interest rates again at its December 17 meeting.

比特幣 (BTC) 價格走勢上週急劇下滑，短短 7 天內下跌了 10% 以上。聯準會在 12 月 17 日會議上宣布再次升息的決定後，經濟開始下滑。

In a bid to curb inflation, the central bank opted for a smaller rate hike of 25 basis points, down from 50 basis points in the previous meeting. However, the Fed also signaled that it would maintain higher rates for an extended period to bring inflation down to its target of 2%.

為了抑制通膨，央行選擇小幅升息25個基點，低於上次會議的50個基點。不過，聯準會也表示將長期維持較高利率，以將通膨率降至2%的目標。

The statement had a significant impact on financial markets, sparking a shift away from risky assets. Cryptocurrency exchange-traded funds (ETFs) also saw a record net outflow last Thursday, following comments from Fed Chair Jerome Powell indicating that rate cuts in 2025 would be more gradual than some had anticipated.

該聲明對金融市場產生了重大影響，引發了人們對風險資產的轉向。繼聯準會主席鮑威爾表示 2025 年降息將比一些人預期更加漸進後，加密貨幣交易所交易基金 (ETF) 上週四也出現創紀錄的淨流出。

Data from European fund manager CoinShares showed that investors withdrew a staggering $576 million in a single day, bringing total outflows to $1 billion by Friday. This shift occurred despite a strong week of inflows, with investors pouring $3.2 billion into crypto funds in the week prior.

歐洲基金管理公司 CoinShares 的數據顯示，投資人單日撤資高達 5.76 億美元，截至週五，資金流出總額達 10 億美元。儘管本週資金流入強勁，但這種轉變還是發生了，投資者在前一周向加密貨幣基金注入了 32 億美元。

According to analysts, the rising interest rates could continue to put pressure on high-risk assets. In the past, Bitcoin has performed better in lower-rate environments, which tend to encourage speculative investment in cryptocurrencies. As the market now braces for a less accommodative monetary policy, some traders are shifting their focus to alternative digital assets and decentralized finance (DeFi) products in search of potential gains.

分析師表示，利率上升可能繼續給高風險資產帶來壓力。過去，比特幣在較低利率環境中表現較好，這往往會鼓勵加密貨幣的投機投資。隨著市場現在準備迎接不太寬鬆的貨幣政策，一些交易者正在將注意力轉向另類數位資產和去中心化金融（DeFi）產品，以尋求潛在收益。

While Bitcoin usually attracts the bulk of investor attention, data reveals a gradual rotation into alternative tokens and related investment products. CoinShares reported that Ethereum-focused funds saw $51 million in inflows last week, while Solana-based products experienced outflows of $8.7 million. This preference for Ethereum indicates that some investors are diversifying away from Bitcoin in the midst of ongoing market turbulence.

雖然比特幣通常會吸引大部分投資者的注意力，但數據顯示比特幣逐漸轉向替代代幣和相關投資產品。 CoinShares 報告稱，專注於以太坊的基金上週流入 5,100 萬美元，而基於 Solana 的產品則流出 870 萬美元。這種對以太坊的偏好表明，在持續的市場動盪中，一些投資者正在從比特幣轉向多元化。

Despite the recent downturn, Bitcoin remains the key barometer for the crypto market. Its volatility and price direction largely determine the overall sentiment toward digital assets. If Bitcoin stabilizes in the coming days, positive market momentum could resume, especially if investors believe the impact of Fed policy decisions will be short-lived.

儘管最近出現低迷，比特幣仍然是加密貨幣市場的關鍵晴雨表。其波動性和價格方向很大程度上決定了人們對數位資產的整體情緒。如果比特幣在未來幾天穩定下來，積極的市場勢頭可能會恢復，特別是如果投資者認為聯準會政策決定的影響將是短暫的。