加密货币外流和美联储的不确定性云比特币 ETF 和市场容量

加密货币投资产品连续第二周净流出，流出市场达 2.06 亿美元。由于对美联储利率决策的担忧，资金外流主要出现在主要资产管理公司提供的产品中。全球交易所交易产品的交易量也出现下降，占比特币总交易量下降至28%。

Global Crypto Outflows Cast a Shadow Over Bitcoin ETFs and Market Volume

全球加密货币资金外流给比特币 ETF 和市场交易量蒙上阴影

Amidst heightened market volatility and investor uncertainty, the global crypto investment landscape has witnessed a significant outflow of funds. Last week, crypto investment products experienced a net outflow of $206 million, marking the second consecutive week of outflows, according to data from Coinshares.

在市场波动加剧和投资者不确定性的背景下，全球加密货币投资格局出现资金大幅外流。 Coinshares 的数据显示，上周加密投资产品净流出 2.06 亿美元，这是连续第二周流出。

Federal Reserve's Monetary Policy Weighs on Crypto Sentiment

美联储的货币政策打压加密货币情绪

Analysts have attributed the outflows to investor concerns over the potential impacts of the Federal Reserve's policy decisions on interest rates. The expectation that the Fed will maintain elevated interest rates for a prolonged period has dampened appetite for crypto investments.

分析师将资金外流归因于投资者担心美联储政策决定对利率的潜在影响。对美联储将长期维持高利率的预期抑制了对加密货币投资的兴趣。

Asset Manager Crypto Products See Notable Declines

资产管理公司加密产品出现显着下降

Crypto investment products offered by leading asset managers have been particularly affected by the outflows. Ark Invest, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares have all experienced outflows from their crypto products.

领先资产管理公司提供的加密货币投资产品尤其受到资金外流的影响。 Ark Invest、Bitwise、Fidelity、Grayscale、ProShares 和 21Shares 都经历过其加密产品的资金流出。

"The data suggests appetite from ETP/ETF investors continues to wane, likely off the back of expectations that the FED is likely to keep interest rates at these high levels for longer than expected," said James Butterfill, Head of Research at Coinshares.

Coinshares 研究主管詹姆斯·巴特菲尔 (James Butterfill) 表示：“数据表明，ETP/ETF 投资者的兴趣继续减弱，这可能是由于人们预期美联储可能将利率维持在高水平的时间长于预期。”

Exchange-Traded Products Witness Volume Decline

交易所交易产品成交量下降

The outflows have also impacted global exchange-traded products (ETPs), with trading volume declining slightly to $18 billion last week. This figure represents a marked decrease from the 55% of total Bitcoin trading volume observed just a month ago.

资金外流也影响了全球交易所交易产品 (ETP)，上周交易量小幅下降至 180 亿美元。这一数字较一个月前观察到的比特币总交易量的 55% 显着下降。

US Spot Bitcoin ETFs Contributed Heavily to Global Outflows

美国现货比特币ETF对全球资金外流做出了重大贡献

Net outflows in US spot Bitcoin ETFs were a significant contributor to the global weekly outflow, reaching $204.3 million. Amidst this trend, BlackRock's IBIT emerged as the sole spot for Bitcoin ETFs to sustain weekly inflows. IBIT garnered $165.4 million in inflows, extending its streak to 69 consecutive days before the Bitcoin Halving.

美国现货比特币 ETF 的净流出是全球每周资金流出的重要贡献者，达到 2.043 亿美元。在这一趋势中，贝莱德的 IBIT 成为比特币 ETF 维持每周资金流入的唯一场所。 IBIT 获得了 1.654 亿美元的资金流入，在比特币减半前连续 69 天流入。

Regional Crypto Fund Flows and Market Trends

区域加密货币资金流向和市场趋势

While the US saw significant outflows, Canada and Switzerland-based funds experienced net inflows of $30 million and $8 million, respectively. Global Bitcoin funds accounted for $192 million of the total net weekly outflows.

虽然美国出现大量资金流出，但加拿大和瑞士的基金分别净流入 3000 万美元和 800 万美元。全球比特币基金占每周净流出总额的 1.92 亿美元。

Minimal Outflows for Short-Bitcoin Products

做空比特币产品的资金流出极少

Despite the outflows, short-Bitcoin products experienced minimal outflows of $300,000. According to Butterfill, this indicates that few investors viewed the outflows as an opportunity to short Bitcoin.

尽管出现资金流出，但做空比特币产品的资金流出量仅为 30 万美元。 Butterfill 表示，这表明很少有投资者将资金外流视为做空比特币的机会。

Ethereum-Based Funds Continue Outflow Streak

基于以太坊的资金继续流出

Ethereum-based investment vehicles continued their outflow streak for the sixth consecutive week, with $34 million in outflow. Conversely, Litecoin and Chainlink products saw inflows of $3.2 million and $1.7 million, respectively.

基于以太坊的投资工具连续第六周继续流出，流出金额达 3400 万美元。相反，Litecoin 和 Chainlink 产品分别流入 320 万美元和 170 万美元。

Blockchain Equities Face Consecutive Week of Outflows

区块链股票面临连续一周的资金流出

Blockchain equities faced an eleventh consecutive week of outflows totaling $9 million. James Butterfill attributes this to investor concerns over the consequences of the Bitcoin Halving on mining companies.

区块链股票连续第十一周面临总计 900 万美元的资金流出。詹姆斯·巴特菲尔（James Butterfill）将此归因于投资者担心比特币减半对矿业公司的影响。

Crypto Market Shows Slight Uptick Despite Outflows

尽管资金外流，加密货币市场仍小幅上涨

Amidst these fund flows, the overall crypto market has shown a slight uptick in the past 24 hours. Bitcoin, the largest cryptocurrency by market capitalization, recorded a 1.2% increase, while Ethereum, the second largest, saw nearly 1% growth over the same period.

在这些资金流向中，整个加密货币市场在过去 24 小时内出现了小幅上涨。市值最大的加密货币比特币增长了 1.2%，而第二大加密货币以太坊同期增长了近 1%。

Bitcoin's Fourth Halving Coincides with Price Action

比特币第四次减半与价格走势同时发生

This price action coincided with Bitcoin's fourth halving on April 20, reducing miners' block subsidy rewards from 6.25 BTC to 3.125 BTC. The halving event marks a significant milestone in the Bitcoin ecosystem, potentially impacting the supply and demand dynamics of the cryptocurrency.

此次价格走势恰逢 4 月 20 日比特币第四次减半，矿工的区块补贴奖励从 6.25 BTC 减少至 3.125 BTC。减半事件标志着比特币生态系统的一个重要里程碑，可能会影响加密货币的供需动态。

Conclusion

结论

The global crypto investment landscape is facing headwinds as outflows and investor concerns persist. The Federal Reserve's monetary policy, concerns over the halving, and broader market sentiment have all contributed to the current market conditions. While some segments, such as Bitcoin ETFs, have shown resilience, the overall outlook remains uncertain as investors navigate the complex landscape of crypto investments.

由于资金外流和投资者担忧持续存在，全球加密货币投资格局正面临阻力。美联储的货币政策、对减半的担忧以及更广泛的市场情绪都导致了当前的市场状况。尽管比特币 ETF 等一些细分市场表现出弹性，但随着投资者应对加密货币投资的复杂格局，整体前景仍然不确定。