比特幣價格面臨大量流出的壓力

比特幣價格繼續面臨逆風，因為關於數字資產基金流量的最新報告顯示，來自數字資產的流出量驚人的7.51億美元。此撤回的巨大數量引起了關於機構是否可能從旗艦加密貨幣兌現的警報。

The latest report from CoinShares has revealed massive outflows from the crypto market, with a staggering $795 million in outflows reported over the past week.

Coinshares的最新報告顯示了加密貨幣市場的大量外流，過去一周中報導了7.95億美元的外流。

According to the report, $751 million of the outflows came from Bitcoin (BTC), marking one of the largest single-week outflows of the year. This follows a previous report from AnChain.AI which highlighted a potential pattern of large-scale Bitcoin outflows linked to a specific exchange, potentially indicating institutional activity.

根據該報告，其中7.51億美元的外流來自比特幣（BTC），這標誌著年度最大的單週外流之一。這是在Anchain.ai的先前報告之後，該報告強調了與特定交換相關的大規模比特幣流出的潛在模式，這可能表明機構活動。

The report highlights that since early February 2025, digital asset investment products have suffered cumulative outflows of approximately $7.2 billion, effectively erasing almost all the year-to-date inflows. Notably, this week marks the third consecutive week of declines, with Bitcoin leading the downturn and recording the most significant losses among major digital assets.

該報告強調，自2025年2月上旬以來，數字資產投資產品的累積流出約為72億美元，實際上幾乎從所有年初到期的流入都刪除了。值得注意的是，本週標誌著連續第三週的下降，比特幣帶領下滑，並記錄了主要數字資產中最重大的損失。

As of this report, net flows for 2025 have dwindled to a modest $165 million, a sharp drop from a multi-billion dollar peak just two months ago. This steep decline underscores a cooling sentiment among institutional investors and highlights a growing sense of caution amid ongoing market volatility.

截至本報告時，2025年的淨流量已減少到一個適中的1.65億美元，僅兩個月前的數十億美元的峰值下降了。這種急劇下降強調了機構投資者中的冷卻情緒，並強調了在不斷發展的市場波動中越來越謹慎的感覺。

The report further disclosed that despite the outflows, Bitcoin still maintains a moderately positive position with $545 million in net year-to-date inflows. However, the sheer scale and speed of the latest outflows do raise concern.

該報告進一步透露，儘管流出了，但比特幣仍然保持中等積極的位置，淨淨流入淨流入為5.45億美元。但是，最新流出的規模和速度確實引起了人們的關注。

With Bitcoin suffering such a massive withdrawal, it signals a potential shift in sentiment among institutions. Whether it’s due to profit-taking or macroeconomic uncertainty, this move suggests that big players are beginning to pull out — at least in the short term.

隨著比特幣的大規模撤離，它標誌著機構之間的情感可能轉變。無論是由於獲利還是宏觀經濟的不確定性，此舉都表明，至少在短期內，大型球員開始退出。

In addition to Bitcoin, which saw an outflow of $751 million, other cryptoassets also reported outflows. Notably, Ethereum experienced outflows of $37 million, while Solana, Agave, and SUI posted losses of $5.1 million, $0.78 million, and $0.58 million, respectively.

除了比特幣的流出7.51億美元的流出外，其他加密貨幣還報告了外流。值得注意的是，以太坊經歷了3,700萬美元的流出，而Solana，Agave和Sui的流出分別為510萬美元，78萬美元和558萬美元。

Surprisingly, even short Bitcoin products, designed to benefit from market downturns, weren’t spared, recording $4.6 million in outflows.

令人驚訝的是，即使是簡短的比特幣產品，旨在從市場低迷中受益，但尚未倖免，卻記錄了460萬美元的外流。

This latest report from CoinShares provides a bleak outlook on the institutional appetite for crypto assets. As the market continues to navigate a volatile landscape, the role of institutions and their investment activity will be critical in determining the long-term trajectory of the industry.

Coinshares的最新報告對加密資產的機構胃口造成了黯淡的前景。隨著市場繼續駕駛波動的景觀，機構的作用及其投資活動對於確定行業的長期軌跡至關重要。

Tariffs and political volatility drive outflows

關稅和政治波動驅動力流出

One of the key drivers behind the pullback across digital assets is the rising economic uncertainty sparked by tariff polices that have adversly influenced investor sentiment.

在數字資產中回落背後的主要驅動力之一是關稅政策引起的經濟不確定性不斷上升，這些關稅政策對投資者的情緒影響很大。

The report highlighted that the wave of negative sentiment began in February after United States (US) President Donald Trump announced plans to impose tariffs on all imports coming into the country from Canada, Mexico, and China. However, a late-week rebound in crypto prices was seen after Trump’s temporary reversal of the controversial tariffs, providing a brief respite for the market.

該報告強調，在美國總統唐納德·特朗普（Donald Trump）宣布計劃對來自加拿大，墨西哥和中國進入該國的所有進口徵收關稅的計劃之後，消極情緒的浪潮始於2月。但是，在特朗普暫時撤銷了有爭議的關稅之後，立即看到了加密貨幣價格的深夜反彈，這為市場提供了短暫的喘息。

This policy shift helped boost total Asset Under Management (AUM) across digital assets from a low of $120 billion on April 8 to $130 billion, marking an 8% recovery.

這種政策轉變有助於將數字資產管理總資產（AUM）從4月8日的1,200億美元提高到1300億美元，標誌著8％的回收率。