加密货币市场持续第三周负面情绪，比特币价值暴跌

以比特币为首的加密投资产品资金流大幅下降，上周资金流出量高达 4.35 亿美元。这是自 2023 年 3 月以来最大规模的资金外流。负资金流还伴随着交易量的暴跌，仅比特币投资产品就遭受了 4.32 亿美元的资金外流。

In a tumultuous turn of events, the cryptocurrency market has witnessed a sustained period of negative sentiment, with Bitcoin, the bellwether of digital assets, enduring the brunt of the impact. According to the latest weekly report by CoinShares, a digital asset manager that closely monitors fund flows in Bitcoin and other cryptocurrency investment products, the third consecutive week of negative flow has resulted in a staggering $6.2 billion decline in trading volume.

风云突变，加密货币市场持续低迷，数字资产领头羊比特币首当其冲。根据密切监控比特币和其他加密货币投资产品资金流向的数字资产管理公司 CoinShares 最新的每周报告，连续第三周的负流导致交易量惊人地下降了 62 亿美元。

The report highlights that last week's outflows of $435 million represented the largest since March 2023, signaling a marked shift in investor sentiment. This negative flow has been accompanied by a precipitous collapse in the volume of crypto exchange-traded products (ETPs), which plummeted to $11.8 billion last week, a significant $6.2 billion deficit compared to the previous week's $18 billion record.

该报告强调，上周的资金流出量为 4.35 亿美元，是 2023 年 3 月以来最大的一次，表明投资者情绪发生了显着转变。这种负流量伴随着加密货币交易所交易产品（ETP）交易量的急剧下滑，上周暴跌至 118 亿美元，与前一周 180 亿美元的记录相比，大幅赤字 62 亿美元。

The CoinShares report underscores that amidst the decline in ETP trading volume and negative inflows, Bitcoin has lost approximately 6% of its value, a significant indicator of the market's bearish sentiment.

CoinShares 报告强调，在 ETP 交易量下降和资金负流入的情况下，比特币价值损失了约 6%，这是市场看跌情绪的一个重要指标。

Notably, Bitcoin has been disproportionately affected by the outflows compared to other crypto assets. Bitcoin investment products alone experienced outflows of $432 million, while Ethereum-based investments witnessed significantly lower negative flows of $38 million.

值得注意的是，与其他加密资产相比，比特币受到资金外流的影响尤为严重。仅比特币投资产品就经历了 4.32 亿美元的资金流出，而基于以太坊的投资则出现了 3800 万美元的负流量，大幅减少。

In contrast, a diverse array of altcoins, including multi-coin investment products, have attracted inflows totaling $7 million. Additionally, popular investments such as Solana (SOL), Litecoin (LTC), and Chainlink (LINK) have maintained their appeal, attracting inflows of $4 million, $3 million, and $2.8 million, respectively.

相比之下，包括多币种投资产品在内的多种山寨币吸引了总计 700 万美元的资金流入。此外，Solana (SOL)、Litecoin (LTC) 和 Chainlink (LINK) 等热门投资仍保持吸引力，分别吸引了 400 万美元、300 万美元和 280 万美元的资金流入。

A geographical analysis of the fund flows reveals that the majority of the outflows from crypto investment products originated from the Bitcoin ETF market in the United States. The U.S. spot ETF market witnessed a significant drain of $388 million, primarily driven by the negative sentiment surrounding Grayscale Bitcoin Trust (GBTC). GBTC alone recorded a substantial outflow of $440 million last week, representing the lowest inflow in the past nine weeks.

对资金流向的地理分析显示，加密货币投资产品的大部分流出源自美国的比特币 ETF 市场。美国现货 ETF 市场大幅流失 3.88 亿美元，主要是由于围绕灰度比特币信托 (GBTC) 的负面情绪。仅 GBTC 上周就录得 4.4 亿美元的大幅流出，创下过去九周以来的最低流入量。

While Grayscale's negative flow trend has shown signs of gradual decline, other ETF issuers have also experienced a drop in inflows. For instance, last week, U.S. spot Bitcoin ETFs saw an influx of $126 million, a 50% decrease from the $254 million inflow in the previous week. Despite this decline, the U.S. Bitcoin spot ETF market has still commanded an impressive inflow of $13.6 billion since its inception.

尽管灰度的负流量趋势已显示出逐渐下降的迹象，但其他ETF发行人也出现了流入量下降的情况。例如，上周美国现货比特币 ETF 资金流入 1.26 亿美元，较前一周的 2.54 亿美元流入减少 50%。尽管出现下滑，美国比特币现货 ETF 市场自成立以来仍然吸引了 136 亿美元的资金流入。

Other regions, such as Germany and Canada, have also mirrored the bearish sentiment, with outflows of $16 million and $32 million, respectively, last week. However, Switzerland and Brazil have defied this trend, experiencing inflows of $5 million and $4 million, respectively.

德国和加拿大等其他地区也反映了看跌情绪，上周分别流出 1,600 万美元和 3,200 万美元。然而，瑞士和巴西却逆势而上，分别流入了 500 万美元和 400 万美元。

The sustained period of negative sentiment in the cryptocurrency market has raised concerns among investors, who are closely monitoring the evolving market dynamics. As the market continues to navigate these choppy waters, it remains to be seen whether this negative trend will persist or if a reversal of fortunes lies ahead.

加密货币市场持续的负面情绪引起了投资者的担忧，他们正在密切关注不断变化的市场动态。随着市场继续在波涛汹涌的水域中航行，这种负面趋势是否会持续，或者命运是否会逆转，还有待观察。