現貨ETF激增抵銷灰階資金流出，比特幣面臨方向不確定

週二，美國的比特幣 ETF 吸引了大量資金流入，抵消了灰階比特幣信託基金的資金流出，這是一個顯著的逆轉。新ETF流入總額約為4.18億美元，其中富達的FBTC和貝萊德的IBIT領先。儘管有資金流入，比特幣仍保持在 70,000 美元大關附近，這表明可能來自長期持有者的持續拋售。

Influx of Spot ETFs Counteracts Grayscale Outflows, Bitcoin Faces Downtrend

現貨ETF湧入抵銷灰階資金流出，比特幣面臨下行趨勢

Amidst a turbulent market landscape, spot exchange-traded funds (ETFs) for Bitcoin (BTC) in the United States have experienced a notable surge in inflows, mitigating outflows from the incumbent Grayscale Bitcoin Trust (GBTC).

在動盪的市場格局中，美國比特幣 (BTC) 現貨交易所交易基金 (ETF) 的資金流入顯著激增，緩解了現有灰階比特幣信託 (GBTC) 的資金流出。

On Tuesday, these Bitcoin spot ETFs witnessed inflows totaling 6,000 BTC, amounting to approximately $418 million. This influx, the largest since mid-March, has propelled the total value of Bitcoins held in these ETFs to $57.2 billion, representing 4.20% of Bitcoin's overall market capitalization.

週二，這些比特幣現貨 ETF 共流入 6,000 BTC，約 4.18 億美元。這是自 3 月中旬以來最大的資金流入，使這些 ETF 中持有的比特幣總價值達到 572 億美元，佔比特幣總市值的 4.20%。

Fidelity's spot ETF (FBTC) spearheads the inflows, accumulating $279.10 million worth of Bitcoins, while BlackRock's IBIT fund follows closely with $162 million in inflows. These nine newly established ETFs have collectively offset the $212 million in outflows from GBTC.

富達 (Fidelity) 的現貨 ETF (FBTC) 引領比特幣流入，累積了價值 2.791 億美元的比特幣，而貝萊德 (BlackRock) 的 IBIT 基金緊隨其後，流入 1.62 億美元。這九檔新成立的 ETF 總共抵銷了 GBTC 2.12 億美元的資金流出。

Notably, the accumulation in these new ETFs encompasses all newly mined Bitcoins for the day, matching GBTC's outflows and an additional 5,092 coins from other sources, as reported by venture capital firm HODL15Capital.

值得注意的是，根據創投公司 HODL15Capital 報道，這些新 ETF 的累積涵蓋了當天所有新開採的比特幣，與 GBTC 的流出量以及來自其他來源的額外 5,092 枚比特幣相符。

Despite the substantial inflows into spot ETFs, Bitcoin's price remains anchored around the $70,000 mark, indicating ongoing selling pressure. This selling trend is primarily attributed to long-term holders of the cryptocurrency, who have been profiting from their holdings.

儘管大量資金流入現貨 ETF，但比特幣價格仍穩定在 7 萬美元大關附近，顯示拋售壓力持續存在。這種拋售趨勢主要歸因於加密貨幣的長期持有者，他們一直從持有的加密貨幣中獲利。

Data suggests that long-term holders have been actively selling, bringing previously inactive coins into the liquid supply. This availability may fuel increased demand and market volatility in the future.

數據顯示，長期持有者一直在積極拋售，將先前不活躍的代幣納入流動供應中。這種可用性可能會加劇未來的需求增加和市場波動。

Meanwhile, Bitcoin's Fear and Greed Index currently reflects "extreme greed," suggesting the potential for sustained buying pressure in the coming days. If realized, this momentum could drive Bitcoin's price upward.

與此同時，比特幣的恐懼和貪婪指數目前反映了“極度貪婪”，表明未來幾天可能存在持續的購買壓力。如果實現的話，這種勢頭可能會推動比特幣的價格上漲。

In conclusion, the influx into spot ETFs has counterbalanced outflows from GBTC, providing some respite for Bitcoin. However, the coin continues to face selling pressure from long-term holders, potentially leading to a more volatile market environment in the future.

總而言之，現貨 ETF 的湧入抵消了 GBTC 的資金流出，為比特幣提供了一些喘息的機會。然而，該代幣繼續面臨長期持有者的拋售壓力，可能導致未來更加不穩定的市場環境。