比特幣四月暴跌，這是自 FTX 崩盤以來最糟糕的一個月，ETF 炒作減弱

比特幣經歷了自 11 月 FTX 崩盤以來最糟糕的一個月，由於對美國交易所交易基金的熱情消退以及聯準會降息的希望減弱，4 月比特幣下跌了 16%。加密貨幣領域也緊隨其後，以太坊和 Solana 遭受了更大的損失，而加密貨幣公司的股票則暴跌。儘管比特幣減半備受期待，但其影響微乎其微，因為交易數量和礦工獎勵並未受到影響。

Bitcoin Tumbles in April, Worst Month Since FTX Collapse as ETF Euphoria Wanes

比特幣四月暴跌，這是自 FTX 崩盤以來最糟糕的一個月，ETF 熱情消退

Bitcoin has experienced its most significant monthly decline since the collapse of Sam Bankman-Fried's FTX empire, as the initial enthusiasm surrounding US exchange-traded funds (ETFs) for the largest digital asset subsides.

隨著美國交易所交易基金（ETF）對最大數位資產的最初熱情消退，比特幣經歷了自 Sam Bankman-Fried 的 FTX 帝國崩潰以來最嚴重的月度跌幅。

Bitcoin plunged almost 16% in April, narrowly surpassing the decline witnessed in November 2022. The US-ETF induced rally propelled Bitcoin to a record high of nearly $74,000 in March. However, as expectations for Federal Reserve interest rate cuts dwindle, demand for risky investments has waned, resulting in a substantial decrease in inflows into these products.

比特幣 4 月暴跌近 16%，略超 2022 年 11 月的跌幅。然而，隨著聯準會降息預期減弱，對創投的需求減弱，導致流入這些產品的資金大幅減少。

On Tuesday, Bitcoin's decline of nearly 5% to around $60,000 had a ripple effect on the broader cryptocurrency market. Smaller rivals such as Ether and Solana, as well as memecoins, experienced even more significant losses. Shares of companies associated with the cryptocurrency industry also closed lower.

週二，比特幣下跌近 5%，至 6 萬美元左右，對更廣泛的加密貨幣市場產生了連鎖反應。以太坊和 Solana 等規模較小的競爭對手以及模因幣遭受了更嚴重的損失。與加密貨幣產業相關的公司股價也收低。

Data from April 29 indicates net outflows of $182 million from the 11 US spot ETFs. In contrast, these funds witnessed a massive $4.6 billion in net inflows in March. The US Securities and Exchange Commission (SEC) approved these funds in January.

4月29日的數據顯示，11隻美國現貨ETF淨流出1.82億美元。相較之下，這些基金 3 月的淨流入高達 46 億美元。美國證券交易委員會 (SEC) 一月份批准了這些基金。

"ETFs provided a new avenue for participation that became immensely popular, far exceeding anyone's expectations," explained Seth Ginns, managing partner and head of liquid investments at Coinfund, in an interview with Bloomberg Television on Tuesday. "This led to a rapid appreciation of Bitcoin's value, surpassing initial projections."

Coinfund 管理合夥人兼流動性投資主管Seth Ginns 週二在接受彭博電視台採訪時解釋道：「ETF 提供了一種新的參與方式，這種方式變得非常受歡迎，遠遠超出了任何人的預期。 “這導致比特幣價值迅速升值，超出了最初的預測。”

The highly anticipated Bitcoin halving, an event that occurs every four years and reduces the supply of new coins entering the market, historically serving as a catalyst for price growth, had minimal impact following its implementation on April 19. While the halving did not affect the number of transactions that can be processed per block, it did reduce the number of new Bitcoins awarded to miners by half.

備受期待的比特幣減半是每四年發生一次的事件，減少了進入市場的新硬幣的供應，歷史上一直是價格上漲的催化劑，但在 4 月 19 日實施後影響甚微。區塊可以處理的交易數量，它確實將授予礦工的新比特幣數量減少了一半。

Shares of cryptocurrency mining companies experienced a steeper decline than the price of Bitcoin itself. Marathon Digital Holdings Inc. dropped by 11%, Riot Platforms Inc. fell by 8.8%, Cleanspark Inc. declined by 9.6%, and Cipher Mining Inc. dipped by 7.9%.

加密貨幣礦業公司的股價跌幅超過了比特幣本身的價格。 Marathon Digital Holdings Inc.下跌11%，Riot Platforms Inc.下跌8.8%，Cleanspark Inc.下跌9.6%，Cipher Mining Inc.下跌7.9%。

Additionally, MicroStrategy Inc. plummeted by 18%. The software company, which has made purchasing Bitcoin a core part of its corporate strategy, reported a $53 million loss in the first quarter on Monday. Despite the cryptocurrency's surge during the period, the firm took an impairment charge against the value of its Bitcoin holdings.

此外，MicroStrategy Inc. 股價暴跌 18%。這家軟體公司將購買比特幣作為其公司策略的核心部分，週一公佈第一季虧損 5,300 萬美元。儘管加密貨幣在此期間飆升，但該公司仍對其持有的比特幣價值提列了減損費用。

Market observers had anticipated a potential tailwind from Asia and had their sights set on the Bitcoin and Ether spot ETF listings in Hong Kong. However, the Tuesday debut failed to ignite investor confidence. Data compiled by Bloomberg shows that the six new ETFs recorded a combined trading volume of $11 million in their initial session, which pales in comparison to the $4.6 billion total volume achieved by the 10 US spot-Bitcoin products on their debut.

市場觀察家曾預期亞洲可能帶來的推動力，並將目光投向了在香港上市的比特幣和以太幣現貨 ETF。然而，週二的首秀未能激發投資者信心。彭博社整理的數據顯示，這六隻新 ETF 在首日交易中的總交易量為 1,100 萬美元，與美國 10 種現貨比特幣產品首次亮相時的 46 億美元總交易量相比，相形見絀。

"The market had built up irrational expectations ahead of the launch of the Hong Kong ETFs," said Vetle Lunde, an analyst at K33 Research.

K33 Research 分析師 Vetle Lunde 表示：“在香港 ETF 推出之前，市場已經建立了非理性預期。”

Ether, the second largest cryptocurrency by market capitalization, declined by 18% in April, its largest monthly decline since June 2022.

以市值計算的第二大加密貨幣以太幣 4 月下跌了 18%，這是自 2022 年 6 月以來的最大月度跌幅。

In March, the SEC requested information from various companies as part of its review of Ether. Last week, crypto software company Consensys filed a lawsuit challenging the SEC's authority to regulate the Ethereum blockchain and Ether, marking the latest legal battle between the crypto industry and the agency.

今年三月，美國證券交易委員會要求多家公司提供信息，作為其對以太幣審查的一部分。上週，加密軟體公司 Consensys 提起訴訟，挑戰 SEC 監管以太坊區塊鏈和以太幣的權力，標誌著加密產業與該機構之間的最新法律戰。

Other smaller and more volatile tokens, such as Dogecoin and Polkadot, experienced even steeper declines on Tuesday. Such altcoins tend to outperform Bitcoin during market rallies and suffer more significant losses during downturns.

其他規模較小且波動性較大的代幣，例如狗狗幣和波卡，週二的跌幅甚至更大。這類山寨幣在市場上漲期間往往表現優於比特幣，而在市場低迷期間遭受更嚴重的損失。