創紀錄的比特幣流入是否刺激了短期巨額利潤？

Has Historic Bitcoin Inflow Fueled Short-Term Whale Profits?

歷史性的比特幣流入是否刺激了短期巨額利潤？

CryptoQuant founder Ki Young Ju asserts that the unprecedented inflow of funds into Bitcoin is driving the profitability of short-term whales, including spot Bitcoin exchange-traded fund (ETF) buyers. According to on-chain data, these investors have accumulated an unrealized profit of approximately $16.3 billion, representing a 16% gain.

CryptoQuant 創辦人 Ki Young Ju 斷言，前所未有的資金流入比特幣正在推動短期鯨魚的獲利能力，包括現貨比特幣交易所交易基金 (ETF) 買家。鏈上數據顯示，這些投資人累計未獲利約163億美元，漲幅達16%。

Bitcoin's Bullish Rebound: A Turning Point?

比特幣的看漲反彈：一個轉折點？

Just 24 hours after breaching the $70,000 mark, Bitcoin extended its weekend gains, rising sharply above the $69,000 resistance level. On March 16, BTC traded above the middle BB, a technical indicator that signals support or resistance based on the price trend. The analyst suggests that further extension on March 25 could push the coin above $73,800.

在突破 7 萬美元大關後僅 24 小時，比特幣就擴大了周末漲幅，大幅升至 69,000 美元阻力位上方。 3 月 16 日，BTC 交投於中線 BB 上方，這是一項根據價格趨勢發出支撐或阻力訊號的技術指標。分析師表示，3 月 25 日的進一步延期可能會推動代幣突破 73,800 美元。

Spot Bitcoin ETFs: Shaping Price Momentum

現貨比特幣 ETF：塑造價格動能

Spot Bitcoin ETFs have exerted a significant influence on the coin's price action. Rumors of their approval by the Securities and Exchange Commission (SEC) in mid-January 2024 spurred a price rally to $47,200. Post-approval, prices initially contracted before soaring to new all-time highs in early March 2024.

現貨比特幣 ETF 對比特幣的價格走勢產生了重大影響。有關其於 2024 年 1 月中旬獲得美國證券交易委員會 (SEC) 批准的傳言刺激價格上漲至 47,200 美元。批准後，價格最初出現收縮，然後在 2024 年 3 月初飆升至歷史新高。

Unprecedented Demand for Bitcoin ETFs

對比特幣 ETF 的需求空前

The total assets under management (AUM) of spot Bitcoin ETFs have surged to $60 billion within just ten weeks, a milestone that took Gold ETFs approximately 15 years to achieve. This rapid growth indicates a surging demand for Bitcoin exposure from various market participants, including institutions.

現貨比特幣 ETF 的管理總資產 (AUM) 在短短 10 週內飆升至 600 億美元，這是黃金 ETF 花了大約 15 年才實現的里程碑。這種快速增長表明包括機構在內的各種市場參與者對比特幣敞口的需求激增。

Inflows Drive Price Rebound, but Cracks Emerge

資金流入推動價格反彈，但出現裂縫

While spot Bitcoin ETFs continue to influence price action, cracks are starting to appear. The coin recently experienced five consecutive days of outflows, the second time in its history. Increased outflows coincided with a decline in Bitcoin prices to $63,500. However, this trend reversed on March 25, with Fidelity's FBTC leading the rebound.

雖然現貨比特幣 ETF 繼續影響價格走勢，但裂縫已經開始出現。該代幣最近連續五天流出，這是其歷史上第二次。資金流出增加的同時，比特幣價格也跌至 63,500 美元。然而，這一趨勢在 3 月 25 日逆轉，富達 (Fidelity) 的 FBTC 領漲。

Sustained Inflows Could Fuel Further Price Recovery

持續的資金流入可能會推動價格進一步回升

The analyst anticipates that if spot Bitcoin ETF issuers continue to attract capital, reversing the outflows seen last week, prices are likely to recover. However, it remains to be determined whether Bitcoin can surpass $74,000 before the next halving event.

該分析師預計，如果現貨比特幣 ETF 發行人繼續吸引資金，扭轉上週的資金外流情況，價格可能會回升。不過，在下一次減半事件之前，比特幣能否突破 74,000 美元仍有待確定。