比特币飙升至 7 万美元以上，增加了持续复苏的希望

Is the Bitcoin Recovery for Real?

比特币复苏是真的吗？

Bitcoin enthusiasts seem to be taking last week's ETF outflows in stride, with the leading cryptocurrency climbing back above $70,000 once more. Cryptocurrencies broadly rallied on Monday, with Bitcoin leading the charge, gaining 7.1% to hit $70,816. It's the first time Bitcoin has surpassed $70,000 in over a week. Ether rose 6%, while Solana and Dogecoin gained over 4%.

比特币爱好者似乎对上周的 ETF 资金流出泰然自若，领先的加密货币再次攀升至 70,000 美元以上。周一，加密货币普遍上涨，其中比特币领涨，上涨 7.1%，触及 70,816 美元。这是比特币一周多以来首次突破 70,000 美元。以太币上涨 6%，而 Solana 和狗狗币上涨超过 4%。

What Fueled the Recovery?

是什么推动了复苏？

Despite the recent ETF outflows, bid orders are accumulating around the $60,000 level, indicating that buyers are eager to take advantage of any dips, according to Nathanaël Cohen, co-founder of the digital-asset hedge fund INDIGO Fund.

数字资产对冲基金 INDIGO Fund 联合创始人纳撒纳尔·科恩 (Nathanaël Cohen) 表示，尽管近期 ETF 资金流出，但买入订单仍在 60,000 美元左右累积，这表明买家渴望利用任何下跌机会。

ETF Pullback: A Cause for Concern?

ETF 回调：令人担忧的原因？

Last week's outflows from Bitcoin ETFs, totaling nearly $900 million, were significant. This reflects ongoing withdrawals from the Grayscale Bitcoin Trust and reduced subscriptions to offerings from BlackRock Inc. and Fidelity Investment. The group of 10 funds endured one of their worst weeks since their inception in January.

上周比特币 ETF 的资金流出规模庞大，总计近 9 亿美元。这反映出灰度比特币信托基金的持续撤资以及贝莱德公司和富达投资公司产品认购量的减少。这 10 只基金经历了自 1 月份成立以来最糟糕的一周之一。

The Role of ETFs in Bitcoin's Rise

ETF 在比特币崛起中的作用

ETF inflows have been a key catalyst for Bitcoin's historic rally this year, sparking optimism among a broader range of investors. However, last week's outflows triggered increased hedging among traders and liquidations in leveraged bullish bets in the crypto futures market.

ETF 流入是比特币今年历史性上涨的关键催化剂，激发了更广泛投资者的乐观情绪。然而，上周的资金外流引发了交易者对冲的增加以及加密货币期货市场杠杆看涨押注的清算。

Crypto Stocks Ride the Wave

加密股票乘风破浪

Companies tied to cryptocurrencies also benefited from the upturn. Bitcoin proxy MicroStrategy surged 20%, crypto exchange Coinbase Global rose 9%, and miner Marathon Digital gained 5%.

与加密货币相关的公司也从经济好转中受益。比特币代理 MicroStrategy 飙升 20%，加密货币交易所 Coinbase Global 上涨 9%，矿工 Marathon Digital 上涨 5%。

What's Next for Bitcoin?

比特币的下一步是什么？

While Bitcoin's recovery is encouraging, it remains to be seen whether the outflows from ETFs will continue or if they were just a blip. Traders will be watching closely to see if the renewed demand from ETFs can reignite the rally.

虽然比特币的复苏令人鼓舞，但 ETF 的资金流出是否会持续，还是只是昙花一现，还有待观察。交易员将密切关注 ETF 的新需求能否重燃涨势。