美国上市的比特币ETFS记录净流入$ 26027万

上市的现货比特币交易所交易基金（ETFS）的净流入量为2.602亿美元，将正资本运输的趋势扩展到数字资产产品中。

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.

根据最近的数据，美国上市的现货比特币交易所交易基金（ETFS）的净流入量为2.6027亿美元，将积极的资本运输趋势扩展到数字资产产品中。

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，开放兴趣现在已经下降了5％，至294.7亿美元，这标志着最近几周比特币的价格努力打破关键阻力水平的放缓。

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

流入中的回调是在一个月的机构兴趣中增加了一个月，现在的投资者看上去更加谨慎。

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

在为期五天的时间里，比特币保持不规则，交易在102,711美元至104,971美元之间。

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

这个合并阶段可能导致对ETF暴露的需求促进。

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

较低的流入数字还反映了更广泛的宏观经济不确定性，交易者对全球利率政策和混合通货膨胀数据做出了反应。

BTC trades sideways near $103K

BTC向侧面交易$ 103K

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

比特币缺乏决定性的价格行动，遏制了前几周内看到的一些积极购买。

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

5月19日，BTC在纠正之前短暂触摸了107,108美元，现在交易约为102,969美元。

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

这表明，尽管偶尔出现突破，但强烈的高架阻力正在抑制短期动量。

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.

尽管ETF仍然是机构加密货币曝光的关键途径，但与以前的每周数量达到9亿美元的数字相比，上周的26027万美元的流入重点是脾气暴躁的热情。

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

技术犹豫可能会促使投资者在部署新资本之前等待更明确的趋势。

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.

市场观察家还指出，投资者将重点转移到其他Altcoins和2层项目上，这些项目在最近的课程中表现出了更强的相对实力。

Derivatives activity

衍生物活性

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

尽管ETF流入较慢，但从衍生品市场到正在进行的看涨情绪的数据。

Futures open interest dropped 5% to $29.47 billion.

期货开放利息下降了5％，至294.7亿美元。

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.

期权市场数据还反映了积极的偏见。 5月16日，对呼叫选项的需求胜过排名，这表明交易者正在定位向上移动。

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

这表明对可能的短期反弹的信心超过了最近的抵抗力，一些投资者预计将推向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.

尽管如此，分析师仍警告说，杠杆位置可能会增加波动性，尤其是如果BTC在未来几天未能持有超过100,000美元以上。

Resistance levels remain key to next move

阻力水平仍然是下一步的关键

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

比特币的近期方向取决于其突破抵抗力约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.

在数量支持的支持下，令人信服的举动可以重新点燃ETF的流入并验证在衍生品市场中的看涨定位。

Until then, institutional interest may continue to moderate.

在此之前，机构利益可能会继续中等。

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

即使最近的净ETF流量下降了，2025年的较广泛趋势也反映了比特币的制度认可的日益增长。

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

现货产品使资产管理人员更容易获得曝光率，而无需直接处理监护权或法规复杂性。

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

随着BTC徘徊在$ 102,969的左右，市场等待着明确的突破或细分。

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

下一步可以确定这种合并是否仅仅是更长的上升趋势或更广泛冷却的早期迹象。