比特币减半担忧导致创纪录的资金外流，削弱了加密货币的兴趣

比特币减半担忧导致区块链股票连续 11 周流出，投资者因担心矿业公司盈利能力下降而撤资 900 万美元。数字资产投资产品也录得 2.06 亿美元的流出，ETP 的兴趣减弱，可能是由于长期高利率的预期。

Bitcoin Halving Concerns Trigger Outflows, Diminishing Interest in Digital Assets

比特币减半担忧引发资金外流，数字资产兴趣下降

Investors' apprehensions surrounding the recent Bitcoin halving have ignited an 11-week streak of outflows from blockchain equities, according to data gathered by CoinShares. This exodus, totaling $9 million, stems from concerns about the halving's impact on mining companies, whose profitability and subsequent stock value could be affected.

CoinShares 收集的数据显示，投资者对最近比特币减半的担忧引发了区块链股票连续 11 周的资金流出。这次总计 900 万美元的资金外流源于对减半对矿业公司影响的担忧，这些公司的盈利能力和随后的股票价值可能会受到影响。

The latest halving witnessed a significant reduction in the mining reward, slashing it to 3.125 BTC. As a consequence, mining operations could experience decreased revenue and potential financial distress, which would inevitably reverberate on the stock prices of these companies.

最近的减半见证了挖矿奖励的大幅减少，将其削减至 3.125 BTC。因此，采矿业务可能会出现收入下降和潜在的财务困境，这将不可避免地对这些公司的股价产生影响。

Digital Asset Investments Lose Luster

数字资产投资失去光彩

Digital asset investment products have endured a second consecutive week of outflows, amounting to $206 million. CoinShares' findings indicate a slight decline in ETP trading volumes to $18 billion, now representing a diminished share of total Bitcoin volumes. This figure, previously hovering around 55% a month ago, has dwindled to 28%.

数字资产投资产品连续第二周出现资金外流，资金流出达 2.06 亿美元。 CoinShares 的调查结果表明，ETP 交易量略有下降，至 180 亿美元，目前在比特币总交易量中所占份额有所下降。这一数字一个月前徘徊在 55% 左右，现已降至 28%。

The Singaporean asset manager's report speculates that ETP/ETF investors are losing interest, potentially due to escalating expectations of the Federal Reserve maintaining elevated interest rates for an extended period.

新加坡资产管理公司的报告推测，ETP/ETF 投资者正在失去兴趣，这可能是由于美联储长期维持高利率的预期不断升级。

Outflows Dominate Cryptocurrency Landscape

资金外流主导加密货币格局

Bitcoin has borne the brunt of these outflows, hemorrhaging $192 million. Notably, short-selling has not been the refuge of investors, with outflows in short positions reaching a paltry $0.3 million. Ethereum-related products have also faced outflows of $34 million, marking their sixth consecutive week of decline.

比特币在这些资金外流中首当其冲，损失了 1.92 亿美元。值得注意的是，卖空并没有成为投资者的避难所，空头头寸的资金流出仅为区区 30 万美元。以太坊相关产品也面临 3400 万美元的资金流出，连续第六周下跌。

Solana-based investment products have exhibited a similar trend, with outflows of $0.3 million. However, multi-asset investments have experienced a surge in sentiment, with inflows reaching $9 million.

基于 Solana 的投资产品也表现出类似的趋势，流出 30 万美元。然而，多资产投资情绪高涨，资金流入达到 900 万美元。

Meanwhile, Litecoin and Chainlink have witnessed inflows of $3.2 million and $1.7 million, respectively. Polkadot and XRP have also benefited from inflows of $1.5 million and $1.3 million during this period.

与此同时，莱特币和 Chainlink 的资金流入分别为 320 万美元和 170 万美元。在此期间，Polkadot 和 XRP 也受益于 150 万美元和 130 万美元的流入。

Negative Sentiment Plagues US ETFs

负面情绪困扰美国 ETF

Geographically, the negative sentiment has been predominantly concentrated in US ETFs, which have grappled with outflows of $244 million. These outflows have primarily affected established ETFs, while newly issued ETFs have managed to attract inflows, albeit at significantly lower levels than in preceding weeks. Germany and Sweden have also registered outflows of $8 million and $6.7 million, respectively.

从地域上看，负面情绪主要集中在美国 ETF，该基金已面临 2.44 亿美元的资金外流。这些资金流出主要影响了已建立的 ETF，而新发行的 ETF 则成功吸引了资金流入，尽管其水平明显低于前几周。德国和瑞典的资金外流也分别为 800 万美元和 670 万美元。

Conversely, Canada and Switzerland have emerged as leaders in weekly inflows, with $30 million and $8 million, respectively. Brazil, Australia, and France have also witnessed minor inflows, ranging from $0.2 million to $5.5 million.

相反，加拿大和瑞士成为每周资金流入的领先者，分别为 3000 万美元和 800 万美元。巴西、澳大利亚和法国也有少量资金流入，金额从 20 万美元到 550 万美元不等。

These outflows and the diminished interest in digital assets highlight the ongoing concerns surrounding the impact of the Bitcoin halving and the broader market's uncertainty amid persistent inflationary pressures and the looming threat of recession. As investors grapple with these uncertainties, the future trajectory of blockchain equities and digital asset investments remains shrouded in uncertainty.

这些资金外流和对数字资产兴趣的减弱凸显了人们对比特币减半影响的持续担忧，以及在持续的通胀压力和迫在眉睫的衰退威胁下更广泛市场的不确定性。当投资者努力应对这些不确定性时，区块链股票和数字资产投资的未来轨迹仍然笼罩在不确定性之中。