機構比特幣注入推動市場飆升，為價格爆炸奠定基礎

在經歷了 3 月一周的資金流出之後，現貨比特幣 ETF 又重新獲得了資金積極流入的勢頭。灰階比特幣ETF GBTC 流出量也有所減少，4 月3 日，日流出量連續第二天低於1 億美元。機構對比特幣的興趣仍然強勁，貝萊德IBIT ETF 的持續買入和FBTC 1.17 億美元的大量買入證明了這一點。導致所有比特幣 ETF 的總流入量為 1.13 億美元。

Institutional Bitcoin Surge Boosts Spot and Futures Market Activity, Paving the Way for Price Rally

機構比特幣激增提振現貨和期貨市場活動，為價格上漲鋪路

After a brief dip in March, spot Bitcoin exchange-traded funds (ETFs) are experiencing a strong resurgence, fueled by positive inflows and a decline in outflows from the Grayscale Bitcoin Trust (GBTC). On Wednesday, April 3, GBTC outflows fell below $100 million for the second consecutive day, marking a significant decrease from previous levels.

在 3 月短暫下跌之後，現貨比特幣交易所交易基金 (ETF) 正在經歷強勁復甦，因為灰階比特幣信託基金 (GBTC) 的資金流入量增加和流出量下降。 4 月 3 日星期三，GBTC 流出量連續第二天跌破 1 億美元，較先前水準大幅下降。

Grayscale Bitcoin ETF Outflows Dwindle

灰階比特幣 ETF 資金流出減少

On April 3, GBTC's total outflows dropped to $75 million, the lowest level since February 26. This steady decline in outflows signals a renewed interest in the Bitcoin fund.

4 月 3 日，GBTC 總流出量降至 7500 萬美元，為 2 月 26 日以來的最低水平。流出量的穩定下降表明人們對比特幣基金重新產生了興趣。

Institutional Activity Dominates Bitcoin ETF Market

機構活動主導比特幣 ETF 市場

During Wednesday's trading session, BlackRock's iShares Bitcoin ETF (IBIT) made a substantial purchase of $42 million, continuing its consistent buying pattern observed since the launch of Bitcoin ETFs. Additionally, FBTC recorded a significant acquisition of $117 million, its highest volume since March 26. These purchases contributed to a total inflow of $113 million across all Bitcoin ETFs.

在周三的交易時段，貝萊德的 iShares 比特幣 ETF (IBIT) 大量購買了 4,200 萬美元，延續了自比特幣 ETF 推出以來一貫的購買模式。此外，FBTC 還完成了 1.17 億美元的重大收購，這是自 3 月 26 日以來的最高交易量。這些收購為所有比特幣 ETF 帶來了 1.13 億美元的總流入。

Institutional Interest in Bitcoin Remains Strong

機構對比特幣的興趣依然濃厚

Despite the recent volatility, institutional interest in Bitcoin remains unwavering. Data from CryptoQuant reveals an increase in the Coinbase Premium, an indicator of heightened Bitcoin purchases by US institutions. This premium reflects the price difference between Coinbase and international exchanges, underscoring robust institutional involvement, particularly amidst the surge in inflows into US Bitcoin ETFs.

儘管最近出現波動，機構對比特幣的興趣仍然堅定不移。 CryptoQuant 的數據顯示 Coinbase 溢價有所增加，這是美國機構購買比特幣增加的指標。這項溢價反映了 Coinbase 與國際交易所之間的價格差異，凸顯了機構的強勁參與，特別是在美國比特幣 ETF 資金流入激增的情況下。

Bitcoin Futures Market Hints at Potential Volatility

比特幣期貨市場暗示潛在的波動

The futures market suggests potential volatility ahead for Bitcoin. The rising Coinbase Premium serves as a distinct predictor of heightened Bitcoin purchases by US institutions. This premium underscores robust institutional involvement, especially amidst the surge in inflows into US Bitcoin ETFs. Furthermore, data indicates a significant movement of Bitcoins off exchanges, totaling approximately 18,828 BTC. This suggests that institutions may be transferring their holdings to private wallets or cold storage, potentially triggering a supply shock in the future.

期貨市場顯示比特幣未來可能會出現波動。 Coinbase 溢價的上升是美國機構增加比特幣購買量的明顯預測因子。這種溢價凸顯了機構的強勁參與，尤其是在美國比特幣 ETF 資金流入激增的情況下。此外，數據顯示比特幣在交易所外的大量流動，總計約 18,828 BTC。這表明機構可能會將其持有的資產轉移到私人錢包或冷庫中，從而可能在未來引發供應衝擊。

Positive Bitcoin Futures Funding Rates Signal Bullish Sentiment

積極的比特幣期貨融資利率預示著看漲情緒

CryptoQuant has highlighted the remarkable duration of positive Bitcoin futures funding rates, indicating a robust bullish sentiment. Historically, such optimism has often been followed by price corrections, implying that a potential buying opportunity may emerge in the near future.

CryptoQuant 強調了比特幣期貨融資利率正值的持續時間，顯示強勁的看漲情緒。從歷史上看，這種樂觀情緒往往伴隨著價格調整，這意味著在不久的將來可能會出現潛在的買入機會。

Halving Event Adds to Supply Shock

減半事件加劇供應衝擊

In addition to the positive institutional activity, the upcoming Bitcoin halving event will introduce an additional supply shock for BTC. This event, scheduled for mid-May, will reduce the block reward for miners by half, potentially leading to a significant price rally.

除了積極的機構活動外，即將到來的比特幣減半事件也將為比特幣帶來額外的供應衝擊。該活動定於 5 月中旬舉行，將使礦工的區塊獎勵減少一半，可能導致價格大幅上漲。

Conclusion

結論

The recent surge in institutional activity surrounding Bitcoin, coupled with the upcoming halving event, has created a bullish outlook for the cryptocurrency. The decline in GBTC outflows, positive inflows into Bitcoin ETFs, and a potential supply shock suggest that Bitcoin is poised for a rally. Investors should closely monitor the market in the coming weeks for potential buying opportunities.

最近圍繞比特幣的機構活動激增，加上即將到來的減半事件，為加密貨幣創造了看漲的前景。 GBTC 流出量的下降、比特幣 ETF 的資金流入以及潛在的供應衝擊表明，比特幣即將上漲。投資者應在未來幾週密切關注市場，尋找潛在的買入機會。