比特幣的復甦：持久的熱情還是暫時的飆升？

儘管近期美國交易所交易基金 (ETF) 出現資金流出，但比特幣仍飆升至 7 萬美元以上，漲幅 5.8% 至 7 萬美元。以太幣、Solana 和狗狗幣等其他加密貨幣也出現了上漲。上週 ETF 提款近 9 億美元，主要來自 Grayscale Bitcoin Trust，導致加密貨幣期貨市場的對沖和清算增加。

Is Bitcoin's Recovery a Sign of Enduring Enthusiasm?

比特幣的復甦是持久熱情的象徵嗎？

Despite a recent exodus of funds from U.S. exchange-traded funds (ETFs), Bitcoin enthusiasts remain unfazed. The leading cryptocurrency has clawed its way back above the $70,000 mark.

儘管最近資金從美國交易所交易基金（ETF）流出，但比特幣愛好者仍然不為所動。這種領先的加密貨幣已重新站上 7 萬美元大關。

On Monday, most digital assets saw a resurgence, with Bitcoin leading the charge, gaining up to 5.8% to $70,014. This marks the first time in over a week that Bitcoin has crossed the $70,000 threshold. Ether, Solana, and Dogecoin also experienced gains, rising around 5% and over 4%, respectively.

週一，大多數數位資產出現復甦，其中比特幣領漲，漲幅高達 5.8%，至 70,014 美元。這標誌著比特幣一周多來首次突破 7 萬美元大關。以太幣、Solana 和狗狗幣也出現上漲，分別上漲約 5% 和超過 4%。

ETF Outflows: A Temporary Blip?

ETF 資金流出：只是暫時現象？

Last week, ETFs witnessed a withdrawal of nearly $900 million, primarily from the Grayscale Bitcoin Trust (GBTC) and a slowdown in subscriptions for offerings from BlackRock (BLK) and Fidelity Investment.

上週，ETF 撤資近 9 億美元，主要來自灰階比特幣信託基金 (GBTC)，貝萊德 (BLK) 和富達投資的認購量也有所放緩。

The Role of Bitcoin ETFs: A Driving Force?

比特幣 ETF 的作用：驅動力？

Bitcoin ETFs have played a significant role in driving Bitcoin's historic rally this year. Strong inflows into these funds fueled optimism about the exponential growth of the asset class, attracting a broader investor base.

比特幣 ETF 在推動比特幣今年的歷史性上漲方面發揮了重要作用。這些基金的大量資金流入激發了人們對資產類別呈指數級增長的樂觀情緒，吸引了更廣泛的投資者基礎。

Outflows: A Sign of Caution or Liquidations?

資金流出：謹慎還是清算的跡象？

However, last week's substantial outflows prompted traders to hedge against potential price declines and led to significant liquidations of leveraged bullish bets in the crypto futures market.

然而，上週的大量資金外流促使交易員對沖潛在的價格下跌，並導致加密貨幣期貨市場的槓桿看漲押注大量清算。

US Spot Bitcoin ETFs: A Game-Changer?

美國現貨比特幣 ETF：遊戲規則改變者？

The highly anticipated U.S. spot Bitcoin ETFs, which commenced trading earlier this year after approval from the SEC, accounted for the majority of total crypto fund flows. Investors shifted their funds from older Canadian and European funds to cheaper U.S. offerings.

備受期待的美國現貨比特幣 ETF 於今年稍早獲得 SEC 批准後開始交易，佔加密資金總流量的大部分。投資者將資金從較舊的加拿大和歐洲基金轉向更便宜的美國基金。

Altcoins: A Mixed Bag

山寨幣：魚龍混雜

Last week, the ten U.S. Bitcoin funds saw $888 million in outflows, representing about 94% of total global crypto fund flows. Funds holding Ethereum, Solana, and Cardano also experienced net outflows of around $43 million. Despite this, altcoins like Polkadot, Avalanche, and Litecoin saw inflows of $16 million during the same period.

上週，美國十檔比特幣基金流出 8.88 億美元，約佔全球加密貨幣基金總流量的 94%。持有以太坊、Solana 和 Cardano 的基金也經歷了約 4,300 萬美元的淨流出。儘管如此，Polkadot、Avalanche 和 Litecoin 等山寨幣在同一時期仍有 1,600 萬美元的流入。