FTX 崩潰、ETF 興趣下降，比特幣月跌幅最大

比特幣經歷了自 4 月 FTX 動盪以來最大幅度的月度跌幅，這主要是由於美國現貨交易所交易基金 (ETF) 對加密貨幣的熱情減弱。在聯準會降息預期減弱的背景下，對比特幣等創投的需求減少，導緻美國現貨ETF大量流出。

Bitcoin Suffers Steepest Monthly Decline Post-FTX Collapse Amid Waning ETF Enthusiasm

FTX 崩盤後，ETF 熱情減弱，比特幣月跌幅最大

Bitcoin, the foremost cryptocurrency, has endured its most significant monthly setback since the catastrophic fall of the FTX exchange empire. The decline in enthusiasm surrounding US spot exchange-traded funds (ETFs) targeting the leading digital asset has been a driving factor behind this downturn.

比特幣作為最重要的加密貨幣，經歷了自 FTX 交易帝國災難性崩潰以來最嚴重的月度挫折。針對領先數位資產的美國現貨交易所交易基金（ETF）的熱情下降是這項經濟低迷背後的驅動因素。

Throughout April, Bitcoin plummeted by nearly 16%, closely mirroring the losses incurred in November 2022. The immense enthusiasm surrounding US ETFs had propelled Bitcoin to an unprecedented high of nearly $73,700 in March.

在整個 4 月份，比特幣暴跌近 16%，與 2022 年 11 月發生的損失密切相關。

However, the diminishing expectations of interest rate reductions by the Federal Reserve have stifled demand for risky investments, leading to a substantial decline in inflows into these products. As a result, the inflow into these products has decreased significantly.

然而，聯準會降息預期的減弱抑制了對創投的需求，導致流入這些產品的資金大幅下降。因此，這些產品的流入量大幅減少。

Bitcoin's significant 6% drop to approximately $57,500 as of May 1 has had a detrimental effect on the entire crypto market. Smaller competitors such as Ethereum, Solana, and meme coins have suffered more severe losses as a result.

截至 5 月 1 日，比特幣大幅下跌 6% 至約 57,500 美元，對整個加密貨幣市場產生了不利影響。以太坊、Solana 和 Meme 幣等規模較小的競爭對手因此遭受了更嚴重的損失。

As of April 29, the 11 US spot ETFs collectively reported net outflows amounting to $182 million. This figure stands in stark contrast to the substantial net inflows of $4.6 billion recorded in March.

截至4月29日，11隻美國現貨ETF合計淨流出1.82億美元。這一數字與3月錄得的46億美元的大幅淨流入形成鮮明對比。

Experts attribute the waning interest in Bitcoin ETFs to a combination of factors. Some investors may be concerned about the potential for regulatory scrutiny or a prolonged downturn in the crypto market. Others may be awaiting clearer guidance from the Securities and Exchange Commission (SEC) regarding the approval of spot ETFs.

專家將對比特幣 ETF 的興趣減弱歸因於多種因素。一些投資者可能擔心監管審查的可能性或加密貨幣市場的長期低迷。其他人可能正在等待美國證券交易委員會 (SEC) 關於批准現貨 ETF 的更明確指導。

The SEC has yet to approve any spot ETFs, citing concerns over market manipulation and volatility. However, several companies have filed applications with the SEC, and the agency is expected to make a decision on these applications in the coming months.

美國證券交易委員會尚未批准任何現貨 ETF，理由是擔心市場操縱和波動。不過，已有幾家公司向 SEC 提交了申請，預計該機構將在未來幾個月內對這些申請做出決定。

If spot ETFs are eventually approved, it could provide a significant boost to the crypto market. ETFs make it easier for investors to gain exposure to cryptocurrencies without having to directly purchase and store the assets themselves. This could attract new investors to the market, increasing demand and potentially driving up prices.

如果現貨 ETF 最終獲得批准，可能會對加密貨幣市場產生重大推動作用。 ETF 讓投資者更容易獲得加密貨幣的投資，而無需直接購買和儲存資產。這可能會吸引新投資者進入市場，增加需求並可能推高價格。

In the meantime, the fate of Bitcoin and the broader crypto market remains uncertain. The waning enthusiasm surrounding US spot ETFs has contributed to the recent downturn, but it is unclear whether this trend will continue. The long-term trajectory of Bitcoin and other cryptocurrencies will likely depend on a variety of factors, including the regulatory landscape, macroeconomic conditions, and technological advancements.

與此同時，比特幣和更廣泛的加密貨幣市場的命運仍然不確定。對美國現貨 ETF 的熱情減弱導致了近期的低迷，但目前尚不清楚這種趨勢是否會持續下去。比特幣和其他加密貨幣的長期發展軌跡可能取決於多種因素，包括監管環境、宏觀經濟條件和技術進步。