比特币（BTC）交易所交易基金（ETF）上周记录了1500万美元的净流入

比特币交易所交易基金（ETFS）上周记录了1500万美元的适度净流入，这标志着上周的急剧外流超过7.13亿美元的明显转变。

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.

比特币交易所交易基金（ETFS）上周记录了1500万美元的适度净流入，这标志着上周的急剧外流超过7.13亿美元的明显转变。

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，尽管资本流量发生了积极变化，但上周的数字代表了自2025年初以来记录的最低每周净流入。

Bitcoin ETF Inflows Drop to 2025 Low

比特币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.

上周，跨越4月14日至17日，机构投资者向BTC Spot ETF增加了资金，将这些产品的净流入量提高到1585万美元。

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.

尽管有积极的动作，但最新基金涌入代表了自今年年初以来BTC ETF的最小净流入，进一步证实了看涨情绪的放缓。

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.

在不断升级的全球贸易紧张局势中，这种放缓是在金融市场引入新的不确定性的。随着主要经济体收紧贸易政策和报复性措施，机构投资者的情绪变得越来越谨慎，促使他们在重新分配资金时采取了拭目以待。

BTC Pushes Higher, But Traders Exit Positions

BTC推高，但交易者退出职位

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在发稿时的交易价格为87,64美元，在过去的24小时中的价值上涨了3％。但是，硬币的期货开放兴趣下降了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.

资产的开放利息是指未解决或关闭的未偿还期货或期权合同的总数。当它在价格集会期间下降时，这表明交易者正在关闭自己的职位，而不是打开新的职位，这表明缺乏对持续价格集会的坚定信念。

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

这种情绪扩展到了硬币的期权市场，如当今对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.

当交易者所定位的潜在缺点或寻求防止价格下降的保护时，比这样的呼吁更多的是看跌市场的情绪。

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%.

虽然这与BTC的开放兴趣相结合，但指向仍在仔细踩踏的市场，但由于更广泛的不确定性，硬币的积极融资率提供了喘息的机会。根据Coinglass的报道，发稿时间为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.

当这样的资金率是正面的时，长交易者正在支付短裤，表明看涨的情绪主导着，对长期头寸的需求更高。

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

这些表明，尽管衍生物和ETF流动的语气谨慎，但一些交易者仍然自信并期望更高。