比特幣（BTC）ETF產品的表現優於黃金（XAU），因為旗艦硬幣享有看漲的情感

美國的現貨比特幣ETF產品最近已經超過了黃金，旗艦硬幣享有看漲的情緒，

The competitive landscape between Bitcoin (BTC) ETF products and the traditional asset, gold, is heating up, with interesting tidbits emerging.

比特幣（BTC）ETF產品與傳統資產黃金之間的競爭格局正在加熱，並且出現了有趣的小動物。

As the flagship coin enjoys a bullish sentiment, mainly fueled by optimism over the first-ever spot Bitcoin ETF approval in the U.S., the traditional asset is mainly waning.

由於旗艦硬幣具有看漲的情緒，這主要是對美國有史以來第一個現場比特幣ETF批准的樂觀情緒，因此傳統資產主要是在減弱。

Recent price metrics reveal that BTC topped the $96K mark, up nearly 2% over the week. Whereas, gold’s price lost nearly 2% over the last 5 days, at $3,247.40 per ounce.

最近的價格指標表明，BTC超過了9.6萬美元的高位，比一周的價格上漲了近2％。而在過去的5天中，黃金的價格下跌了近2％，為每盎司3,247.40美元。

Bitcoin ETF Products Saw Record Breaking Inflows As Institutional Demand Soars

比特幣ETF產品看到了隨著機構需求飆升的創紀錄的流入

比特幣ETF產品看到了隨著機構需求飆升的創紀錄的流入

In sync with this bullish price action, U.S. Bitcoin ETF products have also quietly recorded robust net outflows, to the tune of nearly $2 billion in the past 7 days.

與這種看漲的價格行動同步，美國比特幣ETF產品還悄悄記錄了強勁的淨外流，在過去的7天中，近20億美元的收益。

According to the latest statistics by SosoValue, these exchange-traded products recorded consecutive weekly net outflows for the second time this quarter.

根據Sosovalue的最新統計數據，這些交換貿易產品本季度第二次連續記錄了每週的淨流出。

Last week (ending April 25), U.S. BTC ETF products saw a staggering $3.06 billion in outflows, marking the first week of consecutive outflows since March end. Now, with nearly $2 billion worth of outflows as of the week ending May 2, it seems that institutional demand for the flagship crypto is on a notable rise.

上週（截至4月25日），美國BTC ETF產品的流出量達到了驚人的30.6億美元，標誌著自3月底以來連續出發的第一周。現在，截至5月2日截至一周的一周，價值近20億美元的流出，對旗艦加密的機構需求似乎正在顯著上升。

At the beginning of this year, gold has been outperforming Bitcoin. But it will be interesting to see if we'll continue to see a paradigm shift in risk assets’ market sentiment.

在今年年初，黃金的表現優於比特幣。但是，有趣的是，我們是否會繼續看到風險資產市場情緒的範式轉變。

As of reporting time, these U.S.-based BTC ETF products held $113.15 billion worth of assets.

截至報告時間，這些總部位於美國的BTC ETF產品持有價值1,131.5億美元的資產。

On the other hand, it’s also worth pointing out that although gold has been outperforming Bitcoin since the beginning of this year, a paradigm shift in risk assets’ risk-return trade-offs seems to be emerging.

另一方面，還值得指出的是，儘管自今年年初以來黃金一直優於比特幣，但風險資產的風險回收權衡的範式似乎正在出現。

Sharpe Ratio For BTC Is At 0.40, Whereas Gold’s Is At 1.33

BTC的Sharpe比率為0.40，而黃金為1.33

BTC的Sharpe比率為0.40，而黃金為1.33

According to Fidelity’s Global Macro Director Jurrien Timmer’s X post, the see-saw dynamic between Bitcoin & Gold suggests that the crypto is about to outweigh the traditional asset. The Sharpe Ratio for BTC is at 0.40, whereas gold’s is at 1.33.

根據Fidelity的全球宏觀總監Jurrien Timmer的X帖子的說法，比特幣和黃金之間的遠見動態表明，加密貨幣將超過傳統資產。 BTC的夏普比率為0.40，而黃金為1.33。

For context, the Sharpe Ratio measures the risk-adjusted returns of an asset. The higher the ratio, the better the return per risk unit. However, the negative correlation between the two assets suggests that BTC’s ratio highlights an underwhelming movement. Trimmer stresses, “So perhaps we are due for a baton-pass from gold to bitcoin.”

在上下文中，夏普比率衡量了資產的風險調整後收益。比率越高，每個風險單位的回報越好。但是，這兩個資產之間的負相關性表明，BTC的比率突出了一個令人難以置信的運動。 Trimmer強調：“因此，也許我們應該從黃金到比特幣的指揮棒。”

Besides, CoinGape also reported that crypto critic Peter Schiff still predicts a Gold rally is possible, mainly driven by U.S. macroeconomic policies. Broader market participants continue to extensively eye Bitcoin ETF products relatively more than Gold, speculating over potential investment opportunities amid dynamic stats.

此外，Coingape還報導說，加密批評家彼得·希夫（Peter Schiff）仍然預測，主要是由美國宏觀經濟政策驅動的黃金集會。更廣泛的市場參與者在動態統計數據中猜測潛在的投資機會相比，更廣泛的更廣泛的比特幣ETF產品相對較高。