比特幣（BTC）交易所交易基金（ETF）上週記錄了1500萬美元的淨流入

比特幣交易所交易基金（ETFS）上週記錄了1500萬美元的適度淨流入，這標誌著上週的急劇外流超過7.13億美元的明顯轉變。

Bitcoin exchange-traded funds (ETFs) recorded a modest net inflow of $15 million last week, marking a significant turnaround from the previous week’s sharp outflows exceeding $713 million.

比特幣交易所交易基金（ETFS）上週記錄了1500萬美元的適度淨流入，這標誌著上週的急劇外流超過7.13億美元的明顯轉變。

However, despite the positive shift in capital flow, last week’s figure represents the lowest weekly net inflow recorded since the beginning of 2025.

然而，儘管資本流量發生了積極變化，但上週的數字代表了自2025年初以來記錄的最低每週淨流入。

Bitcoin ETF Inflows Drop to 2025 Low

比特幣ETF流入下降到2025低

Last week, spanning April 14 to 17, saw institutional investors adding capital to BTC spot ETFs, bringing net inflows into these products to $15.85 million.

上週，跨越4月14日至17日，機構投資者向BTC Spot ETF增加了資金，將這些產品的淨流入量提高到1585萬美元。

Despite the positive movement, this latest fund influx represents the smallest net inflow for BTC ETFs since the beginning of the year, further confirming the slowdown in bullish sentiment.

儘管有積極的動作，但最新基金湧入代表了自今年年初以來BTC ETF的最小淨流入，進一步證實了看漲情緒的放緩。

The slowdown comes amid escalating global trade tensions, which have introduced fresh uncertainty into financial markets. As major economies tighten trade policies and retaliatory measures mount, institutional investor sentiment has become more cautious, prompting them to adopt a wait-and-see approach as they reallocate their capital.

在不斷升級的全球貿易緊張局勢中，這種放緩是在金融市場引入新的不確定性的。隨著主要經濟體收緊貿易政策和報復性措施，機構投資者的情緒變得越來越謹慎，促使他們在重新分配資金時採取了拭目以待。

BTC Pushes Higher, But Traders Exit Positions

BTC推高，但交易者退出職位

BTC trades at $87,64 at press time, having gained 3% in value over the past 24 hours. However, the coin’s futures open interest has fallen by 2%.

BTC在發稿時的交易價格為87,64美元，在過去的24小時中的價值上漲了3％。但是，硬幣的期貨開放興趣下降了2％。

An asset’s open interest refers to the total number of outstanding futures or options contracts that have not been settled or closed. When it falls during a price rally, it suggests that traders are closing out their positions rather than opening new ones, indicating a lack of strong conviction for a sustained price rally.

資產的開放利息是指未解決或關閉的未償還期貨或期權合同的總數。當它在價格集會期間下降時，這表明交易者正在關閉自己的職位，而不是打開新的職位，這表明缺乏對持續價格集會的堅定信念。

This sentiment extends to the coin’s options market, as reflected by today’s high demand for put contracts.

這種情緒擴展到了硬幣的期權市場，如當今對PUT合同的高需求所反映的。

When there are more puts than calls like this, it indicates a bearish market sentiment, as traders are positioning for potential downside or seeking protection against price declines.

當交易者所定位的潛在缺點或尋求防止價格下降的保護時，比這樣的呼籲更多的是看跌市場的情緒。

While this, combined with BTC’s falling open interest, points to a market that is still treading carefully amid broader uncertainty, the coin’s positive funding rate offers respite. At press time, according to Coinglass, this stands at 0.0052%.

雖然這與BTC的開放興趣相結合，但指向仍在仔細踩踏的市場，但由於更廣泛的不確定性，硬幣的正資金率提供了喘息的機會。根據Coinglass的報導，發稿時間為0.0052％。

When the funding rate is positive like this, long traders are paying shorts, indicating that bullish sentiment dominates and demand for long positions is higher.

當這樣的資金率是正面的時，長交易者正在支付短褲，表明看漲的情緒主導著，對長期頭寸的需求更高。

These suggest that, despite the cautious tone in derivatives and ETF flows, some traders remain confident and anticipate further upside.

這些表明，儘管衍生物和ETF流動的語氣謹慎，但一些交易者仍然自信並期望更高。