加密資金在減少不確定性的情況下看到流出：下一步是什麼？

加密資金經歷了大量的流出，因為對美聯儲降低的希望降低了。這是臨時傾斜還是更大趨勢的跡象？

Hold on to your hats, crypto enthusiasts! The world of crypto funds is experiencing some turbulence. Recent data reveals a significant outflow, primarily driven by shifting expectations around Federal Reserve rate cuts. Let's dive into what's happening and what it might mean for the future.

抓住您的帽子，加密愛好者！加密資金的世界正在經歷一些動盪。最近的數據顯示出大量流出，主要是由於對美聯儲削減稅率的期望轉移而驅動。讓我們深入了解正在發生的事情以及將來可能意味著什麼。

The Great Crypto Outflow of '24

'24的大加密流出

Last week saw a whopping $812 million flow out of crypto investment products, according to CoinShares. Bitcoin and Ethereum were hit the hardest, with outflows of $719 million and $409 million, respectively. This reversal comes despite a strong year-to-date inflow of $39.6 billion, suggesting a possible shift in investor sentiment.

據Coinshares稱，上週從加密投資產品中流出了8.12億美元。比特幣和以太坊的打擊最大，流出分別為7.19億美元和4.09億美元。儘管從年初至今的大量流入396億美元，這表明投資者的情緒可能會轉變。

Why the Sudden Exit?

為什麼突然退出？

The primary culprit appears to be stronger-than-expected macroeconomic data, which tempered expectations for aggressive interest rate cuts by the Fed. Remember that the anticipation of lower interest rates often fuels investment in riskier assets like crypto. So, when those rate cuts seem less likely, investors might pull back.

罪魁禍首似乎是宏觀經濟數據的強大，這使美聯儲對積極的利率降低的期望得到緩解。請記住，對較低利率的預期通常會為加密貨幣等風險較高的資產提供投資。因此，當這些降低的可能性似乎較小時，投資者可能會退縮。

Adding fuel to the fire, US outflows dominated the regional picture, accounting for more than the total global outflow figure with $1.037 billion in weekly redemptions. On the flip side, Switzerland, Canada, and Germany demonstrated resilience with positive inflows, showing European institutional conviction despite US jitters.

為火災增加了燃料，美國的流出佔據了區域性的占主導地位，佔全球流出數字的總數超過了每週贖回的103.7億美元。另一方面，瑞士，加拿大和德國表現出了積極流入的韌性，儘管我們有些不安，但表現出歐洲機構的信念。

Altcoins buck the trend?

AltCoins逆轉趨勢？

While Bitcoin and Ethereum struggled, some altcoins are showing great potential. Solana attracted significant inflows of $291 million, driven by anticipation of upcoming ETF launches. XRP also saw $93.1 million in inflows. It seems investors are eyeing these altcoins, possibly seeking diversification or higher growth potential.

儘管比特幣和以太坊掙扎，但一些山寨幣表現出巨大的潛力。由於預期即將推出的ETF發布，Solana吸引了2.91億美元的大量流入。 XRP還看到了9310萬美元的流入。看來投資者正在關注這些替代幣，可能會尋求多元化或更高的增長潛力。

ETF Month? Maybe Not for Everyone

ETF月？也許不是每個人

October is being dubbed “ETF month” as the SEC makes final decisions on 16 crypto ETFs. Coins like Solana, XRP, Litecoin, and even Dogecoin are in the spotlight. However, some major players like Fidelity and BlackRock are notably absent from this initial wave. Still, the approval of these ETFs could trigger an altcoin rally by giving investors exposure to these coins with less risk.

十月被稱為“ ETF月”，因為SEC對16個加密ETF做出了最終決定。諸如Solana，XRP，Litecoin甚至Dogecoin之類的硬幣是聚光燈。但是，一些主要的球員像Fidelity和BlackRock這樣的最初浪潮中顯然沒有。儘管如此，這些ETF的批准可能會通過使投資者接觸這些硬幣的風險較小，從而觸發Altcoin Rally。

Ethereum's Potential Rally

以太坊的潛力集會

Don't count Ethereum out just yet! CryptoQuant analysts point to falling spot exchange reserves as a sign of growing investor confidence. As investors move ETH to private wallets and staking accounts, sell-side liquidity decreases, potentially setting the stage for a major rally, if demand rises in the future. Keep an eye on macroeconomic conditions and demand, it will be key!

不要剛才算以太坊！加密分析師指出，下降現貨交換儲量是投資者信心不斷增長的標誌。隨著投資者將ETH轉移到私人錢包和存放帳戶時，賣方流動性下降，如果將來需求上升，則有可能為重大集會奠定基礎。密切關注宏觀經濟條件和需求，這將是關鍵！

The Bottom Line

底線

So, what does all this mean? The recent outflows are a reminder that the crypto market is sensitive to macroeconomic factors, particularly expectations around interest rates. While Bitcoin and Ethereum are experiencing some headwinds, altcoins and potential ETF approvals offer glimmers of hope. Also, analysts are keeping a close eye on demand, and believe that if demand continues to rise, it will be a strong signal for a future ETH rally.

那麼，這意味著什麼？最近的流出提醒人們，加密市場對宏觀經濟因素敏感，尤其是對利率的期望。儘管比特幣和以太坊正在遭受一些逆風，但Altcoins和潛在的ETF批准帶來了希望的光芒。此外，分析師正在密切關注需求，並相信，如果需求繼續上升，這將是未來ETH集會的強烈信號。

The market is not always rational and can be driven by fear and greed, but the underlying technology and the increasing adoption of crypto assets suggest that the long-term trend remains positive.

市場並不總是理性的，可以由恐懼和貪婪驅動，但是基礎技術以及加密資產的越來越多的採用表明，長期趨勢仍然是積極的。

Until next time, keep your crypto close and your rate cut expectations even closer!

直到下一次，請保持加密貨幣的關閉，並使您的費率降低了期望！