美國上市的比特幣ETFS記錄淨流入$ 26027萬

上市的現貨比特幣交易所交易基金（ETFS）的淨流入量為2.602億美元，將正資本運輸的趨勢擴展到數字資產產品中。

US-listed spot Bitcoin exchange-traded funds (ETFs) recorded net inflows of $260.27 million, extending a trend of positive capital movement into digital asset products, according to recent data.

根據最近的數據，美國上市的現貨比特幣交易所交易基金（ETFS）的淨流入量為2.6027億美元，將積極的資本運輸趨勢擴展到數字資產產品中。

However, open interest has now dropped 5% to $29.47 billion, marking a slowdown from recent weeks as Bitcoin’s price struggled to break key resistance levels.

但是，開放興趣現在已經下降了5％，至294.7億美元，這標誌著最近幾週比特幣的價格努力打破關鍵阻力水平的放緩。

The pullback in inflows follows a month-long run of heightened institutional interest, with investors now appearing more cautious.

流入中的回調是在一個月的機構興趣中增加了一個月，現在的投資者看上去更加謹慎。

During the five-day period, Bitcoin remained rangebound, trading between $102,711 and $104,971.

在為期五天的時間裡，比特幣保持不規則，交易在102,711美元至104,971美元之間。

This consolidation phase likely contributed to the softer demand for ETF exposure.

這個合併階段可能導致對ETF暴露的需求促進。

The lower inflow figure also reflects broader macroeconomic uncertainties, with traders reacting to global rate policies and mixed inflation data across key markets.

較低的流入數字還反映了更廣泛的宏觀經濟不確定性，交易者對全球利率政策和混合通貨膨脹數據做出了反應。

BTC trades sideways near $103K

BTC向側面交易$ 103K

Bitcoin’s lack of decisive price action has curbed some of the aggressive buying seen in prior weeks.

比特幣缺乏決定性的價格行動，遏制了前幾週內看到的一些積極購買。

On 19 May, BTC briefly touched $107,108 before correcting and is now trading at approximately $102,969.

5月19日，BTC在糾正之前短暫觸摸了107,108美元，現在交易約為102,969美元。

This suggests that despite occasional breakouts, strong overhead resistance is dampening short-term momentum.

這表明，儘管偶爾出現突破，但強烈的高架阻力正在抑制短期動量。

While ETFs remain a key avenue for institutional crypto exposure, last week’s inflow of $260.27 million highlights tempered enthusiasm compared to previous weekly figures that crossed $900 million.

儘管ETF仍然是機構加密貨幣曝光的關鍵途徑，但與以前的每週數量達到9億美元的數字相比，上週的26027萬美元的流入重點是脾氣暴躁的熱情。

The technical indecision may be prompting investors to wait for a more defined trend before deploying fresh capital.

技術猶豫可能會促使投資者在部署新資本之前等待更明確的趨勢。

Market observers have also noted a shift in investor focus toward other altcoins and layer-2 projects, which have shown stronger relative strength in recent sessions.

市場觀察家還指出，投資者將重點轉移到其他Altcoins和2層項目上，這些項目在最近的課程中表現出了更強的相對實力。

Derivatives activity

衍生物活性

Despite slower ETF inflows, data from the derivatives market points to ongoing bullish sentiment.

儘管ETF流入較慢，但從衍生品市場到正在進行的看漲情緒的數據。

Futures open interest dropped 5% to $29.47 billion.

期貨開放利息下降了5％，至294.7億美元。

Options market data also reflects positive bias. On 16 May, demand for call options outweighed puts, indicating that traders are positioning for an upward move.

期權市場數據還反映了積極的偏見。 5月16日，對呼叫選項的需求勝過排名，這表明交易者正在定位向上移動。

This suggests confidence in a possible short-term rebound above recent resistance, with some investors anticipating a push toward the $110,000 mark.

這表明對可能的短期反彈的信心超過了最近的抵抗力，一些投資者預計將推向110,000美元。

Still, analysts warn that leveraged positions may increase volatility, especially if BTC fails to hold above $100,000 in the coming days.

儘管如此，分析師仍警告說，槓杆位置可能會增加波動性，尤其是如果BTC在未來幾天未能持有超過100,000美元以上。

Resistance levels remain key to next move

阻力水平仍然是下一步的關鍵

Bitcoin’s near-term direction hinges on its ability to break through resistance around $105,000.

比特幣的近期方向取決於其突破抵抗力約105,000美元的能力。

A convincing move above this level, supported by volume, could reignite ETF inflows and validate bullish positioning in the derivatives market.

在數量支持的支持下，令人信服的舉動可以重新點燃ETF的流入並驗證在衍生品市場中的看漲定位。

Until then, institutional interest may continue to moderate.

在此之前，機構利益可能會繼續中等。

Even with the recent dip in net ETF flows, the broader 2025 trend reflects growing institutional acceptance of Bitcoin.

即使最近的淨ETF流量下降了，2025年的較廣泛趨勢也反映了比特幣的製度認可的日益增長。

Spot products have made it easier for asset managers to gain exposure without dealing directly with custody or regulatory complexities.

現貨產品使資產管理人員更容易獲得曝光率，而無需直接處理監護權或法規複雜性。

As BTC hovers near $102,969, the market awaits a clearer breakout or breakdown.

隨著BTC徘徊在$ 102,969的左右，市場等待著明確的突破或細分。

The next move could determine whether this consolidation is merely a pause in a longer uptrend or an early sign of a broader cooldown.

下一步可以確定這種合併是否僅僅是更長的上升趨勢或更廣泛冷卻的早期跡象。