创纪录的比特币流入是否刺激了短期巨额利润？

Has Historic Bitcoin Inflow Fueled Short-Term Whale Profits?

历史性的比特币流入是否刺激了短期巨额利润？

CryptoQuant founder Ki Young Ju asserts that the unprecedented inflow of funds into Bitcoin is driving the profitability of short-term whales, including spot Bitcoin exchange-traded fund (ETF) buyers. According to on-chain data, these investors have accumulated an unrealized profit of approximately $16.3 billion, representing a 16% gain.

CryptoQuant 创始人 Ki Young Ju 断言，前所未有的资金流入比特币正在推动短期鲸鱼的盈利能力，包括现货比特币交易所交易基金 (ETF) 买家。链上数据显示，这些投资者累计未实现利润约163亿美元，涨幅达16%。

Bitcoin's Bullish Rebound: A Turning Point?

比特币的看涨反弹：一个转折点？

Just 24 hours after breaching the $70,000 mark, Bitcoin extended its weekend gains, rising sharply above the $69,000 resistance level. On March 16, BTC traded above the middle BB, a technical indicator that signals support or resistance based on the price trend. The analyst suggests that further extension on March 25 could push the coin above $73,800.

在突破 70,000 美元大关后仅 24 小时，比特币就扩大了周末涨幅，大幅升至 69,000 美元阻力位上方。 3 月 16 日，BTC 交投于中线 BB 上方，这是一项根据价格趋势发出支撑或阻力信号的技术指标。分析师表示，3 月 25 日的进一步延期可能会推动代币突破 73,800 美元。

Spot Bitcoin ETFs: Shaping Price Momentum

现货比特币 ETF：塑造价格势头

Spot Bitcoin ETFs have exerted a significant influence on the coin's price action. Rumors of their approval by the Securities and Exchange Commission (SEC) in mid-January 2024 spurred a price rally to $47,200. Post-approval, prices initially contracted before soaring to new all-time highs in early March 2024.

现货比特币 ETF 对比特币的价格走势产生了重大影响。有关其于 2024 年 1 月中旬获得美国证券交易委员会 (SEC) 批准的传言刺激价格上涨至 47,200 美元。批准后，价格最初出现收缩，然后于 2024 年 3 月上旬飙升至历史新高。

Unprecedented Demand for Bitcoin ETFs

对比特币 ETF 的需求空前

The total assets under management (AUM) of spot Bitcoin ETFs have surged to $60 billion within just ten weeks, a milestone that took Gold ETFs approximately 15 years to achieve. This rapid growth indicates a surging demand for Bitcoin exposure from various market participants, including institutions.

现货比特币 ETF 的管理总资产 (AUM) 在短短 10 周内飙升至 600 亿美元，这是黄金 ETF 花了大约 15 年时间才实现的里程碑。这种快速增长表明包括机构在内的各种市场参与者对比特币敞口的需求激增。

Inflows Drive Price Rebound, but Cracks Emerge

资金流入推动价格反弹，但出现裂缝

While spot Bitcoin ETFs continue to influence price action, cracks are starting to appear. The coin recently experienced five consecutive days of outflows, the second time in its history. Increased outflows coincided with a decline in Bitcoin prices to $63,500. However, this trend reversed on March 25, with Fidelity's FBTC leading the rebound.

虽然现货比特币 ETF 继续影响价格走势，但裂缝已经开始出现。该代币最近连续五天流出，这是其历史上第二次。资金流出增加的同时，比特币价格也跌至 63,500 美元。然而，这一趋势在 3 月 25 日发生逆转，富达 (Fidelity) 的 FBTC 领涨。

Sustained Inflows Could Fuel Further Price Recovery

持续的资金流入可能会推动价格进一步回升

The analyst anticipates that if spot Bitcoin ETF issuers continue to attract capital, reversing the outflows seen last week, prices are likely to recover. However, it remains to be determined whether Bitcoin can surpass $74,000 before the next halving event.

该分析师预计，如果现货比特币 ETF 发行人继续吸引资金，扭转上周的资金外流情况，价格可能会回升。不过，在下一次减半事件之前，比特币能否突破 74,000 美元仍有待确定。