摩根大通看好比特幣和山寨幣市場！

根據最近的一份研究報告，摩根大通預計比特幣和山寨幣市場將在 8 月反彈。

Investors who don’t use Bitcoin (BTC) are eagerly awaiting the arrival of altcoin season. After all, it’s been a long time coming. While the prospect of an altcoin season did arise before the recent market crash, according to JPMorgan, there’s still hope for next month.

不使用比特幣（BTC）的投資者正在熱切等待山寨幣季節的到來。畢竟，已經過去很久了。摩根大通表示，雖然在最近的市場崩盤之前確實出現了山寨幣季節的前景，但下個月仍然充滿希望。

JPMorgan is bullish on Bitcoin and the altcoin market. According to a recent research report, the bank expects the Bitcoin and altcoin market to rebound in August. The report also notes that there is a high potential for liquidations to decrease before the end of this month. However, bearish market conditions have led the bank to lower its estimated net inflows for this year. The updated forecast shows that the crypto market could record inflows worth $8 billion, down from previous expectations of $12 billion.

摩根大通看好比特幣和山寨幣市場。根據最近的一份研究報告，該銀行預計比特幣和山寨幣市場將在 8 月反彈。報告也指出，本月底前清算量很有可能減少。然而，看跌的市場狀況導致該銀行下調了今年的預期淨流入。更新後的預測顯示，加密貨幣市場可能錄得價值 80 億美元的資金流入，低於先前預期的 120 億美元。

If Bitcoin’s price does rise in August, however, altcoins could also recover, the bank’s forecast suggests. A common misconception is that the altcoin market suffers when BTC rallies, leading to a ‘Bitcoin season’. However, this is not the case, as altcoins are merely following Bitcoin’s lead. In fact, the last time altcoins rose to observe the start of an altcoin season in H2 2023, they were following BTC’s cues.

然而，該銀行的預測表明，如果比特幣的價格在 8 月確實上漲，山寨幣也可能會復甦。一個常見的誤解是，當比特幣上漲時，山寨幣市場就會受到影響，從而導致「比特幣季節」。然而，事實並非如此，因為山寨幣只是追隨比特幣的腳步。事實上，上一次山寨幣上漲以觀察 2023 年下半年山寨幣季節的開始時，他們就是在追隨 BTC 的線索。

But even after rising alongside Bitcoin, for it to be considered the start of Altcoin Season, at least 75% of the top 50 altcoins, excluding stablecoins, need to be outperforming BTC. Only then can we start observing the beginning of Altcoin Season.

但即使與比特幣一起上漲，要被視為山寨幣季節的開始，排名前 50 的山寨幣（不包括穩定幣）中至少有 75% 的表現需要優於 BTC。只有這樣我們才能開始觀察山寨幣季節的開始。

As you’ve been following on Kriptokoin.com, altcoins are not even close to witnessing an altcoin season. This is because nearly 70% of altcoins have been outperforming BTC over the last 90 days. The green altcoins that have outperformed Bitcoin include Toncoin (TON), PEPE, BONK, Kaspa (KAS), Monero (XMR) and Tron (TRX). All other tokens are performing poorly against BTC. So if there is any solid chance to enter an altcoin season, it will probably be in August.

正如您一直在 Kriptokoin.com 上關注的那樣，山寨幣距離見證山寨幣季節還差得遠。這是因為近 70% 的山寨幣在過去 90 天內的表現優於 BTC。表現優於比特幣的綠色山寨幣包括 Toncoin (TON)、PEPE、BONK、Kaspa (KAS)、Monero (XMR) 和 Tron (TRX)。所有其他代幣相對於 BTC 的表現都很差。因此，如果有任何確實的機會進入山寨幣季節，那可能是在八月。

Spot Bitcoin ETFs reach fifth consecutive day of positive flows

現貨比特幣 ETF 連續第五天出現正流量

US spot Bitcoin ETFs recorded daily net inflows totaling $78.93 million on Thursday, extending the positive streak to a fifth day.

美國現貨比特幣 ETF 週四錄得每日淨流入總額達 7,893 萬美元，連續第五天淨流入。

BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, recorded the largest net inflow of the day at $72.09 million, according to SoSoValue data. The fund was also the most traded Bitcoin ETF on Wednesday with $725.61 million in volume.

根據 SoSoValue 數據，貝萊德旗下的 IBIT（以資產淨值計算最大的現貨比特幣 ETF）錄得當日最大淨流入，達 7,209 萬美元。該基金也是周三交易量最大的比特幣 ETF，交易量為 7.2561 億美元。

Fidelity’s FBTC saw a net inflow of $32.69 million. Bitwise’s spot Bitcoin fund also attracted $7.53 million, while Ark Invest and 21Shares’ ETF added $4.31 million.

富達的FBTC淨流入3,269萬美元。 Bitwise 的現貨比特幣基金也吸引了 753 萬美元，而 Ark Invest 和 21Shares 的 ETF 則吸引了 431 萬美元。

Wednesday’s inflows were offset by net outflows from Grayscale’s GBTC worth $37.69 million. Six other funds, including VanEck’s HODL, reported zero flows yesterday.

週三的資金流入被 Grayscale 的 GBTC 價值 3769 萬美元的淨流出所抵消。包括 VanEck 的 HODL 在內的其他六支基金昨天報告資金流量為零。

US spot Bitcoin funds traded a total of $1.31 billion on July 11. Trading volume in spot Bitcoin ETFs remained significantly lower compared to March, when volume topped $8 billion over several days. ETFs have generated a total net inflow of $15.5 billion since their launch in January.

7 月 11 日，美國現貨比特幣基金的交易總額為 13.1 億美元。自 1 月推出以來，ETF 已產生總計 155 億美元的淨流入。

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