随着山寨币激增，比特币减半未能引发投资者狂热

加密货币相关投资产品连续第二周出现资金外流，尽管比特币最近减半，但资金外流仍达到 1.92 亿美元。然而，短期投资者向市场注入了 30 万美元，而 Polkadot、Chainlink 和 Litecoin 等山寨币吸引了投资者的兴趣，流入总额超过 700 万美元。

Bitcoin's Halving Fails to Stem Investor Exodus as Altcoins Gain Ground

随着山寨币的崛起，比特币减半未能阻止投资者撤离

Despite the recent halving event, which typically sparks a surge in excitement within the cryptocurrency market, Bitcoin has witnessed a lackluster response, with investors fleeing to alternative cryptocurrencies known as altcoins. This has resulted in a net outflow of $206 million from crypto-related investment products, marking the second consecutive week of outflows.

尽管最近发生的减半事件通常会引发加密货币市场的兴奋激增，但比特币的反应却很平淡，投资者纷纷转向被称为山寨币的替代加密货币。这导致加密货币相关投资产品净流出 2.06 亿美元，连续第二周出现流出。

Observers attribute this shift in investor sentiment to several factors, including dwindling interest in exchange-traded funds (ETFs) and exchange-traded products (ETPs) that track Bitcoin's performance. Market analysts believe that speculation about potential delays in interest rate cuts by the Federal Reserve has dampened investor enthusiasm.

观察人士将投资者情绪的这种转变归因于几个因素，包括对追踪比特币表现的交易所交易基金（ETF）和交易所交易产品（ETP）的兴趣下降。市场分析师认为，有关美联储可能推迟降息的猜测削弱了投资者的热情。

Furthermore, trading volumes in Bitcoin ETFs and ETPs have declined significantly, indicating a reduced reliance on these instruments to gain exposure to the cryptocurrency. According to CoinShares, the research firm behind the weekly report, trading volumes have fallen from 55% of total Bitcoin volumes a month ago to 28% currently.

此外，比特币 ETF 和 ETP 的交易量大幅下降，表明人们对这些工具获取加密货币的依赖减少。根据每周报告背后的研究公司 CoinShares 的数据，交易量占比特币总交易量的比例已从一个月前的 55% 下降至目前的 28%。

In contrast to Bitcoin's subdued performance, altcoins have gained traction among investors. Lesser-known cryptocurrencies such as Chainlink, Polkadot, Litecoin, Cardano, and XRP collectively attracted over $7 million in inflows last week. This suggests a growing appetite for diversification and a willingness to explore alternative investment opportunities within the cryptocurrency market.

与比特币的低迷表现相反，山寨币受到了投资者的青睐。 Chainlink、Polkadot、Litecoin、Cardano 和 XRP 等不太知名的加密货币上周总共吸引了超过 700 万美元的资金流入。这表明人们对多元化的兴趣不断增长，并且愿意在加密货币市场中探索其他投资机会。

Ethereum, the second-largest cryptocurrency by market capitalization, has also experienced a downturn, with outflows totaling $34 million last week. This marks the sixth consecutive week of outflows for Ethereum, bringing its month-to-date flow to a negative $85 million.

按市值计算的第二大加密货币以太坊也经历了低迷，上周资金流出总额为 3400 万美元。这标志着以太坊连续第六周出现资金流出，使其本月迄今的资金流量达到负 8500 万美元。

Solana, another popular cryptocurrency, has faced more modest outflows of $300,000, while blockchain equities have recorded their 11th consecutive week of outflows, reaching $9 million. Analysts believe that investor concerns about the impact of mining halving on mining companies have contributed to the outflows from blockchain equities.

另一种流行的加密货币 Solana 面临 30 万美元的温和流出，而区块链股票已连续 11 周流出，达到 900 万美元。分析师认为，投资者对挖矿减半对矿业公司影响的担忧，导致了区块链股票的资金流出。

James Butterfill, Head of Research at CoinShares, emphasized that the outflows from crypto-related investment products signify a decline in investor interest. He noted that this trend coincides with speculation regarding potential delays in interest rate cuts by the Federal Reserve.

CoinShares 研究主管 James Butterfill 强调，加密货币相关投资产品的资金流出意味着投资者兴趣的下降。他指出，这一趋势与美联储可能推迟降息的猜测不谋而合。

The shift in investor focus towards altcoins is a testament to the growing maturity and diversity of the cryptocurrency market. As investors seek alternative sources of return and diversification, altcoins are emerging as viable options, offering unique value propositions and the potential for significant gains.

投资者注意力转向山寨币证明了加密货币市场的日益成熟和多样性。随着投资者寻求替代的回报来源和多元化，山寨币正在成为可行的选择，提供独特的价值主张和巨大收益的潜力。

While Bitcoin's dominance remains strong, the recent outflows and increasing interest in altcoins suggest that investors are becoming more discerning and are actively seeking opportunities beyond the established market leaders. It remains to be seen how Bitcoin will respond to this changing market dynamic and whether it can regain investor confidence and attract inflows in the near future.

尽管比特币的主导地位依然强劲，但最近的资金外流和对山寨币的兴趣日益浓厚，表明投资者变得更加敏锐，并正在积极寻找既定市场领导者之外的机会。比特币将如何应对这种不断变化的市场动态，以及能否在不久的将来重拾投资者信心并吸引资金流入，还有待观察。