比特币（BTC）和以太坊（ETH）斑点ETF随着市场巩固的继续，请参见混合流动

比特币（BTC）本周结束，约为96,120美元，比上周结束时下降了0.4％，约为96,465美元。

Bitcoin (BTC) closed the week slightly lower, showing a 0.4% decrease and trading around $96,120, compared to the previous week’s closing price of around $96,465. BTC spot ETFs saw an outflow of nearly $600 million last week.

比特币（BTC）结束了一周，略微降低了一周，显示0.4％，交易约为96,120美元，而上一周的收盘价约为96,465美元。上周，BTC Spot ETF的流出量接近6亿美元。

However, the market consolidation and uncertainty continue due to macroeconomic factors, especially the Federal Reserve’s (FED) future interest rate decisions.

但是，由于宏观经济因素，尤其是美联储（美联储）未来利率决策，市场整合和不确定性仍在继续。

Bitcoin (BTC) closed the week on a slightly downbeat note, trading around $96,120 on Monday, February 19. This marks a marginal 0.4% decrease from the previous week’s close of around $96,465. BTC began the week trading at approximately $94,480 on Monday, February 12, and went on to experience a relatively narrow trading range throughout the week.

比特币（BTC）在2月19日（星期一）略有下跌的票据中结束了一周，交易额约为96,120美元。这标志着前一周的收盘价约为96,465美元的少量下降0.4％。 BTC在2月12日星期一开始本周的交易，约为94,480美元，并在整个星期内经历了相对狭窄的交易范围。

After rising above $96,000 on Tuesday and Wednesday, BTC encountered resistance at around $96,500 and consolidated sideways for the remainder of the week.

在周二和星期三上涨96,000美元以上，BTC遇到了96,500美元左右的阻力，并在本周剩余的时间内侧面合并。

On Friday, BTC briefly dipped below $96,000 but later recovered to close the week above this level.

周五，BTC短暂下跌了96,000美元，但后来恢复了以上的一周。

Despite the slight decrease, BTC managed to hold above the $96,000 price level throughout the week, continuing a trend of relatively high prices and reduced volatility that began in the prior week.

尽管略有下降，但BTC在整个星期的价格水平上设法超过了96,000美元的价格水平，持续了相对较高的价格和降低的波动率。

Over the past 13 trading days, BTC has fluctuated between $94,000 and $100,000, exhibiting lower volatility compared to its historical average. This narrower trading range reflects a phase of market consolidation and uncertainty.

在过去的13个交易日中，BTC波动在94,000美元至100,000美元之间，与其历史平均水平相比，波动性较低。这个狭窄的交易范围反映了市场整合和不确定性的阶段。

One factor influencing market sentiment is macroeconomic concerns. Recent inflation readings came in higher than anticipated, prompting a shift in market participants’ outlook for 2025 monetary policy.

影响市场情绪的一个因素是宏观经济问题。最近的通货膨胀阅读量高于预期，这促使市场参与者对2025年货币政策的前景发生了变化。

Earlier, investors expected a 100-basis-point rate cut in 2025, continuing the trend seen in late 2024. However, given the latest economic data, expectations have adjusted to a potential 25 or 50 basis-point cut this year.

早些时候，投资者预计，2025年降低了100个基准点的降低，延续了2024年底的趋势。但是，鉴于最新的经济数据，期望已适应今年的潜在25或50个基准点。

The first cut is now anticipated in the summer, with a second, if it occurs, likely toward the end of the year. Labour market strength and inflation trends will be closely watched for the FED’s next moves.

现在，第一个削减是在夏天预计的，如果发生的话，可能会在年底之前进行。劳动力市场的实力和通货膨胀趋势将在美联储的下一步行动中进行密切关注。

A weakening labour market together with declining inflation could support additional rate cuts, whereas a robust labour market combined with persistent inflation may force the FED to maintain higher interest rates for longer.

疲软的劳动力市场以及通货膨胀率下降可以支持额外的降低降低，而强劲的劳动力市场和持续的通货膨胀可能会迫使美联储将更高的利率保持更长的时间。

In related news, BTC spot ETFs experienced an outflow of nearly $600 million in the last week, breaking a six-week streak of positive inflows.

在相关新闻中，BTC Spot ETF在上周经历了近6亿美元的流出，打破了六周的积极流入。

This aligns with historical trends, where periods of sustained positive flow are typically followed by a brief negative week. However, since mid-September, this marks only the fourth week of negative flow, underscoring the strong demand and overall bullish sentiment for BTC-backed ETPs.

这与历史趋势保持一致，在历史趋势中，持续正流的时期通常是短暂的负面一周。但是，自9月中旬以来，这仅标志着负流量的第四周，突显了BTC支持的ETP的强劲需求和总体看涨情绪。

Total net inflows since inception now stand at $40.1 billion, averaging over $3 billion per month since their launch in January last year.

自成立以来的总净流入目前为401亿美元，自去年1月推出以来，平均每月超过30亿美元。

Meanwhile, Ethereum (ETH) spot ETFs recorded a net inflow of approximately $12 million in the last week.

同时，以太坊（ETH）ETF在上周记录了大约1200万美元的净流入。

This brings the total inflows since inception to $3.2 billion, reflecting the positive sentiment observed in Q4 2024, which appears to be carrying into early 2025.

这使自成立以来的总流入达到了32亿美元，这反映了第4季度2024年第四季度观察到的积极情绪，该情绪似乎延伸到2025年初。

Market sentiment remains uncertain, with investors closely monitoring macroeconomic indicators and evolving geopolitical developments.

市场情绪仍然不确定，投资者密切监视宏观经济指标并不断发展地缘政治发展。