ETF 流動緩慢，比特幣陷入拉鋸戰

週四早些時候，比特幣 (BTC) 多頭和空頭爭奪主導地位，反彈嘗試在 64,000 美元處被拒絕，隨後空頭試圖跌破 62,745 美元，但遇到阻力。價格波動與美國上市的 BTC ETF 流入放緩同時發生，但隨著摩根士丹利考慮允許經紀商向客戶推薦 ETF，購買活動可能會增加。儘管價格波動，富達數位資產仍長期看漲，指出自 2024 年初以來，持有 1,000 美元或更多 BTC 的錢包增加了 20%。

Bitcoin's Price Action in Flux as Bulls and Bears Contest Control

隨著多頭和空頭爭奪控制權，比特幣的價格走勢不斷變化

The ongoing battle between Bitcoin bulls and bears continued on Thursday, with each camp vying for dominance in the early hours of trading. An attempt by bulls to rally off support at $64,000 was swiftly thwarted, even before the uptrend could gain momentum.

週四，比特幣多頭和空頭之間的持續戰鬥仍在繼續，每個陣營都在早盤爭奪主導地位。多頭試圖從 64,000 美元的支撐位反彈的嘗試很快就遭到挫敗，甚至在上升趨勢獲得動力之前也是如此。

Bears seized the opportunity and pressed their advantage, driving Bitcoin down to a low of $62,745 shortly after the market opened in the United States. However, their triumph proved ephemeral as bulls regrouped and pushed prices back above $63,800, where Bitcoin currently trades.

空頭抓住機會並發揮優勢，在美國開盤後不久，比特幣就跌至 62,745 美元的低點。然而，隨著多頭重新集結並將價格推回 63,800 美元（比特幣目前的交易價格）上方，他們的勝利被證明是短暫的。

ETF Flows Slow, Impacting Bitcoin's Price Dynamics

ETF 流動緩慢，影響比特幣的價格動態

The indecisive price action in Bitcoin mirrors the fading enthusiasm for U.S.-listed sports Bitcoin exchange-traded funds (ETFs). The feverish pace of inflows witnessed in the months following their launch has subsided to a mere trickle.

比特幣價格走勢的猶豫不決反映出人們對美國上市體育比特幣交易所交易基金（ETF）的熱情正在消退。在其推出後的幾個月裡，資金流入的狂熱速度已經減弱為涓涓細流。

Wednesday's trading session saw ETFs experience a collective outflow of $120.64 million, marking the end of a 71-day inflow streak for BlackRock's iShares Bitcoin Trust (IBIT), as noted by Bloomberg Senior ETF Analyst Eric Balchunas.

彭博社高級 ETF 分析師 Eric Balchunas 指出，週三交易時段 ETF 集體流出 1.2064 億美元，標誌著貝萊德 iShares 比特幣信託 (IBIT) 連續 71 天的資金流入結束。

Morgan Stanley Mulls Direct ETF Recommendations

摩根士丹利考慮直接 ETF 建議

Despite the slowdown in ETF flows, there are signs of potential buying activity on the horizon. According to AdvisorHub, Morgan Stanley is contemplating allowing its 15,000 brokers to recommend Bitcoin ETFs to clients.

儘管 ETF 流量放緩，但有跡象表明潛在的購買活動即將出現。根據 AdvisorHub 報道，摩根士丹利正在考慮允許其 15,000 名經紀人向客戶推薦比特幣 ETF。

Morgan Stanley has previously only offered unsolicited access to ETFs, requiring customers to initiate contact with their advisors about investing. The firm is now considering permitting advisors to actively recommend these products to clients, a move that could boost demand while exposing the wirehouse to increased liability.

摩根士丹利先前僅主動提供 ETF 存取權，要求客戶就投資事宜主動與顧問聯繫。該公司目前正在考慮允許顧問積極向客戶推薦這些產品，此舉可能會增加需求，同時使電線公司承擔更多的責任。

Hong Kong Embraces Spot BTC ETFs

香港擁抱現貨 BTC ETF

In a positive development for Bitcoin, Hong Kong regulators have approved three spot BTC ETFs, set to commence trading on April 30. This marks the first wave of approvals in the region.

香港監管機構批准了三隻現貨 BTC ETF，預計於 4 月 30 日開始交易，這標誌著比特幣的積極發展。

Moreover, Hong Kong will also see the launch of three Ethereum (ETH) ETFs, surpassing U.S. issuers who continue to face hurdles in gaining approval from the Securities and Exchange Commission (SEC).

此外，香港還將推出三隻以太坊（ETH）ETF，超過在獲得美國證券交易委員會（SEC）批准方面繼續面臨障礙的美國發行人。

Decisions on spot Ether ETF applications from VanEck and ARK Investment Management are expected by May 23 and May 24, respectively. However, sources have expressed pessimism about the SEC's receptiveness to these applications, with Reuters reporting that discouragingly one-sided meetings with the agency have heightened concerns.

VanEck 和 ARK Investment Management 預計將分別於 5 月 23 日和 5 月 24 日對以太坊 ETF 現貨申請做出決定。然而，消息人士對美國證券交易委員會對這些申請的接受程度表示悲觀，路透社報道稱，與該機構的一面倒的會議令人沮喪，加劇了人們的擔憂。

Fidelity's Long-Term Optimism

富達的長期樂觀態度

Amidst the daily fluctuations and ETF chatter, Fidelity Digital Assets maintains a bullish stance on Bitcoin's long-term prospects. The firm has observed a 20% increase in the number of wallets holding $1,000 or more worth of BTC since the beginning of 2024.

儘管日常波動和 ETF 的討論不斷，富達數位資產仍對比特幣的長期前景保持看漲立場。該公司觀察到，自 2024 年初以來，持有價值 1,000 美元或以上 BTC 的錢包數量增加了 20%。

"This increase shows that despite the upward trend in prices, there is a continued increase in the number of smaller addresses purchasing and holding Bitcoin," Fidelity analysts noted in a report. "As a result, this increase shows that Bitcoin is bought and adopted by more people."

富達分析師在一份報告中指出：“這一增長表明，儘管價格呈上漲趨勢，但購買和持有比特幣的較小地址數量仍在持續增加。” “因此，這種增長表明比特幣被更多的人購買和採用。”

The analysts concluded that the surge in smaller investors embracing Bitcoin represents a significant milestone and bodes well for its future.

分析師的結論是，接受比特幣的小投資者激增是一個重要的里程碑，預示著比特幣的未來。