保真度，比特币和ETF流出：有什么问题？

富达的比特币销售和随后的ETF流出引起了加密世界的嗡嗡声。让我们分解发生的事情以及为什么它很重要。

Alright, crypto enthusiasts, let's talk about Fidelity, Bitcoin, and those pesky ETF outflows. Fidelity's recent sale of Bitcoin tokens, coupled with significant outflows from their Bitcoin ETF (FBTC), has everyone wondering what's going on. Is this a blip, or a sign of things to come? Let's dive in.

好吧，加密爱好者，让我们谈谈富达，比特币和那些讨厌的ETF流出。 Fidelity最近出售比特币代币，再加上比特币ETF（FBTC）的大量外流，每个人都想知道发生了什么。这是闪烁还是即将发生的事情的迹象？让我们潜水。

Fidelity's Bitcoin Move: What Happened?

富达的比特币动作：发生了什么？

Fidelity, a major brokerage firm, reportedly sold over $276 million worth of Bitcoin. While the exact reason remains undisclosed, the move coincided with a dip in BTC prices. The timing suggests a potential strategy to mitigate further losses amid market volatility. This sale also seems correlated with the outflow from Spot Bitcoin ETFs, particularly Fidelity's FBTC.

据报道，富达（Fidelity）是一家主要的经纪公司，售出了价值超过2.76亿美元的比特币。尽管确切的原因仍然没有公开，但此举恰逢BTC价格下跌。时机表明，在市场波动中，可以减轻进一步损失的潜在策略。这次销售似乎还与现货比特币ETF的流出相关，尤其是Fidelity的FBTC。

The ETF Outflow Situation

ETF流出情况

On September 22, 2025, Spot Bitcoin ETFs experienced a substantial outflow of $363.1 million, with Fidelity's FBTC leading the charge with a negative flow of $276.7 million. According to Farside Investors, while the cumulative total inflow for Spot Bitcoin ETFs remains a hefty $57,315 million, Fidelity's FBTC lags behind BlackRock's IBIT in total inflow ($12,394 million vs. $60,644 million, respectively). This raises questions about investor sentiment and the competitive landscape of Bitcoin ETFs.

2025年9月22日，现场比特币ETF经历了3.631亿美元的大量外流，富达的FBTC领导了这一费用，负数为2.767亿美元。根据Farside Investors的数据，虽然现货比特币ETF的累计总流入仍然是573.15亿美元，但Fidelity的FBTC落后于BlackRock的IBIT总流入率（分别为1.2394亿美元，分别为6.6644亿美元）。这引发了有关投资者情绪和比特币ETF竞争格局的疑问。

Contrarian Moves: Strive and Strategy Buy the Dip

逆势行动：努力和策略购买蘸酱

Interestingly, while Fidelity was selling, others were buying. Vivek Ramaswamy’s Strive and Michael Saylor’s Strategy collectively purchased over 5,800 Bitcoin tokens. Strive snagged 5,816 tokens for a cool $655.4 million, and Strategy added 850 BTC for $96 million. This divergence highlights the contrasting strategies and perspectives within the crypto market.

有趣的是，当富达卖出时，其他人正在购买。 Vivek Ramaswamy的努力和Michael Saylor的策略共同购买了5800多个比特币代币。 Strive以6.554亿美元的价格抢购了5,816个代币，战略以9600万美元的价格增加了850 BTC。这种差异凸显了加密货币市场中的对比策略和观点。

BTC Price: A Rollercoaster Ride

BTC价格：过山车

The price of Bitcoin has been, shall we say, *dynamic*. While experiencing some dips over the past weeks, there have also been moments of slight recovery. Predictions suggest a potential surge in the near future, fueled by factors like the Federal Reserve's rate cut announcements. However, volatility remains a constant companion in the crypto world.

我们可以说，比特币的价格是 *动态 *。在过去几周中经历了一些蘸酱的同时，也有一些轻微恢复的时刻。预测表明，在不久的将来的潜在激增，这是由美联储削减公告等因素所推动的。然而，在加密货币世界中，波动率仍然是不断的伴侣。

Arthur Hayes' Bold Prediction: A Trump Card for Bitcoin?

亚瑟·海斯（Arthur Hayes）的大胆预测：比特币的王牌？

Adding another layer to the mix, BitMEX co-founder Arthur Hayes envisions a scenario where a second Trump term could dramatically reshape US monetary policy, ultimately benefiting Bitcoin. Hayes argues that a new administration might seek to influence the Federal Reserve, potentially leading to policies like Yield Curve Control and massive credit expansion. In such a scenario, Hayes believes investors would flock to hard assets like Bitcoin, potentially driving its price to astronomical levels. While speculative, this perspective underscores the potential impact of macroeconomic factors on Bitcoin's future.

Bitmex联合创始人Arthur Hayes添加了另一层，设想了一个特朗普第二个术语可以极大地重塑美国货币政策的情况，最终使比特币受益。海耶斯认为，新政府可能会试图影响美联储，这可能会导致政策，例如收益曲线控制和大规模的信用扩张。在这种情况下，海耶斯认为投资者会涌向比特币等硬资产，可能会将其价格推向天文学水平。在投机性的同时，这种观点强调了宏观经济因素对比特币未来的潜在影响。

The Big Picture: What Does It All Mean?

大局：这意味着什么？

Fidelity's Bitcoin sale and the ETF outflow are certainly noteworthy events. Whether they represent a temporary setback or a more significant trend remains to be seen. The contrasting moves of Strive and Strategy, coupled with the broader macroeconomic landscape, add further complexity to the situation. It's a reminder that the crypto market is a complex beast, influenced by a myriad of factors.

富达的比特币销售和ETF流出当然是值得注意的事件。它们是否代表暂时的挫折还是更重要的趋势尚待观察。努力和战略的对比运动，再加上更广泛的宏观经济景观，使情况更加复杂。提醒人们，加密货币市场是一只复杂的野兽，受到无数因素的影响。

So, what’s the takeaway? Keep an eye on those ETF flows, watch what the big players are doing, and always remember that in the world of crypto, anything can happen. Now, if you'll excuse me, I'm going to go check my own crypto portfolio... just in case!

那么，收获是什么？请密切注意那些ETF流动，观察大玩家在做什么，并始终记住，在加密货币世界中，一切都会发生。现在，如果您原谅我，我将去检查自己的加密货币组合...以防万一！