貝萊德 IBIT ETF 拋售資產，市場關注香港首秀

貝萊德的比特幣ETF（IBIT）連續兩天出現淨零流入，標誌著與先前趨勢的轉變。儘管如此，Bitwise 資訊長 Matt Hougan 認為，由於更廣泛的可用性和機構興趣等因素，未來幾個月可能會有更多資金流入。此外，他預測，由於需求增加，包括央行尋求非債務投資，比特幣到 2028 年下一次減半時可能會達到 25 萬美元以上。

BlackRock's IBIT ETF Experiences Net Outflows, Market Anticipates Hong Kong Debut

貝萊德IBIT ETF出現淨流出，市場期待香港首秀

In a notable development, BlackRock's iShares Bitcoin Trust (IBIT), a spot Bitcoin exchange-traded fund (ETF), has registered zero daily inflows for two consecutive days, marking the first time since mid-January. This news has raised concerns among market watchers, prompting speculation about the potential impact on the Bitcoin market.

值得注意的是，貝萊德旗下的iShares Bitcoin Trust (IBIT)，即現貨比特幣交易所交易基金(ETF)，已連續兩天實現每日資金流入為零，這是自1 月中旬以來的首次。這項消息引起了市場觀察家的擔憂，引發了人們對比特幣市場潛在影響的猜測。

Over the past two days, IBIT has recorded cumulative outflows of $338.2 million, a stark contrast to the inflows witnessed in previous months. This sudden shift in sentiment has caught the attention of investors, who are closely monitoring upcoming events, particularly the highly anticipated Hong Kong ETF debut next week.

過去兩天，IBIT 累計流出 3.382 億美元，與前幾個月的流入形成鮮明對比。這種情緒的突然轉變引起了投資者的注意，他們正在密切關注即將發生的事件，特別是下週備受期待的香港 ETF 首次亮相。

However, market analyst Kamikaze Fiat has expressed skepticism regarding the potential surge in demand from institutional investors. Fiat asserts that significant inflows from entities like Morgan Stanley and Hong Kong ETFs are unlikely to match the massive $12.5 billion injected into the market during the previous rally.

然而，市場分析師 Kamikaze Fiat 對機構投資者需求的潛在激增表示懷疑。菲亞特聲稱，來自摩根士丹利和香港 ETF 等實體的大量資金流入不太可能與上次反彈期間向市場注入的 125 億美元巨額資金相匹配。

Decline in Bitcoin ETF Inflows Raises Questions

比特幣 ETF 流入量下降引發問題

The sharp decline in US spot Bitcoin ETF inflows during the second quarter has raised questions about the sustainability of demand for these products. While the first quarter witnessed substantial inflows, reaching $6 billion in February and $4.6 billion in March, the inflow for April has plummeted to a mere $170 million as of April 24th.

第二季度美國現貨比特幣 ETF 流入量急劇下降引發了人們對這些產品需求可持續性的質疑。雖然第一季出現大量資金流入，2 月達到 60 億美元，3 月達到 46 億美元，但截至 4 月 24 日，4 月的資金流入已驟降至僅 1.7 億美元。

Despite the recent setback, Bitwise Chief Investment Officer Matt Hougan remains optimistic about the future of Bitcoin ETFs. Hougan predicts that inflows will resume in the coming months, citing the limited availability of these products at major wirehouses and the ongoing due diligence process by institutions.

儘管最近遭遇挫折，Bitwise 首席投資長 Matt Hougan 仍然對比特幣 ETF 的未來感到樂觀。霍根預測，資金流入將在未來幾個月內恢復，理由是主要電信公司這些產品的供應有限，而且機構正在進行盡職調查。

Bitwise Exec Predicts Bitcoin Price Surge Before 2028 Halving

Bitwise Exec 預測 2028 年減半前比特幣價格將飆升

Hougan's bullish outlook is further supported by his belief that central banks will enter the Bitcoin market before the next halving in 2028. He emphasizes that Bitcoin, like gold, is a non-debt asset with a finite supply that cannot be expanded through borrowing or seized by foreign governments.

Hougan 的看漲前景進一步得到了他的信念的支持，他相信央行將在2028 年下一次減半之前進入比特幣市場。透過借貸或扣押來擴大。

Based on this scenario, Hougan forecasts that Bitcoin could trade above $250,000 by the time of the next halving. Such a surge would represent a significant increase from its current price of around $40,000.

基於這種情況，Hougan 預測，到下一次減半時，比特幣的交易價格可能會超過 25 萬美元。這樣的飆升意味著其目前價格約 4 萬美元的大幅上漲。

US Treasury's Move Expected to Impact Crypto Market

美國財政部的舉措預計將影響加密貨幣市場

In the short term, BitMEX founder Arthur Hayes anticipates a bullish momentum in the crypto market next week, fueled by a potential liquidity injection of $1.4 trillion by the US Treasury. Hayes believes that this liquidity infusion could trigger a rally in stocks and reignite the crypto bull market.

短期來看，BitMEX 創辦人 Arthur Hayes 預計，在美國財政部潛在註入 1.4 兆美元流動性的推動下，下週加密貨幣市場將出現看漲勢頭。海耶斯認為，這種流動性注入可能引發股市上漲，並重新點燃加密貨幣牛市。

The quarterly refunding announcements by the US Treasury are closely watched by the markets, as they typically have a significant impact on financial assets. The upcoming announcement is expected to shed light on the Treasury's debt management policies and could potentially influence the direction of Bitcoin in the coming months.

美國財政部的季度退款公告受到市場密切關注，因為它們通常會對金融資產產生重大影響。即將發布的公告預計將揭示財政部的債務管理政策，並可能影響未來幾個月比特幣的走向。