现货比特币 ETF 的回归：通往下一次牛市的路径？

自比特币决定重返 60,000 美元以上以来，加密货币市场正在复苏。好消息让我们重新点燃了迄今为止尚未出现的牛市前景。

As the price of bitcoin continues to trade above $60,000, following the recent macroeconomic data, the market seems to be paying close attention to the performance of the crypto.

随着比特币价格继续保持在 60,000 美元以上，根据最近的宏观经济数据，市场似乎正在密切关注加密货币的表现。

With the Fed lowering interest rates and China announcing a $140 billion stimulus plan, to name a few, the narrative appears to be shifting towards a bull run in the digital asset markets.

举几个例子，随着美联储降息和中国宣布 1400 亿美元的刺激计划，数字资产市场的叙述似乎正在转向牛市。

This is further supported by the recent political developments in the US, with Kamala Harris’ support for the crypto economy, and seems to be panning out in the markets.

美国最近的政治事态发展以及卡马拉·哈里斯对加密经济的支持进一步支持了这一点，并且似乎正在市场上取得成功。

While bitcoin has been trading sideways for months now, with the anticipation of a bull run, the entry of an exchange-traded fund in the US has brought a new dimension to the crypto market.

尽管比特币几个月来一直在横盘整理，但随着牛市的预期，交易所交易基金的进入为加密货币市场带来了新的维度。

With the bitcoin ETF now trading for several months, the attention has shifted towards its performance, and its role in driving crypto prices.

随着比特币 ETF 现在交易了几个月，人们的注意力已经转向它的表现以及它在推动加密货币价格方面的作用。

While the narrative has been largely positive, with the bitcoin ETF hitting new highs,踽 a deeper look into the data reveals a different picture.

尽管随着比特币 ETF 创下新高，人们的叙述在很大程度上是积极的，但更深入地研究数据却揭示了不同的情况。

Despite the bitcoin ETF seeing another day of inflows, with the BlackRock IBIT ETF seeing inflows of $184.4 million on Friday,彙 the total inflows into bitcoin ETFs were recorded at $105.9 million for the day.

尽管比特币 ETF 又迎来一天资金流入，其中贝莱德 IBIT ETF 周五流入 1.844 亿美元，但当天比特币 ETF 的总流入额为 1.059 亿美元。

This is due to outflows from the FBTC and ARKB ETFs, to the tune of $32.2 million and $47.4 million, respectively.

这是由于 FBTC 和 ARKB ETF 的资金流出分别为 3220 万美元和 4740 万美元。

According to CryptoQuant analyst Ki Young Ju, these inflows resulted in a net 30-day change in total holdings turning positive once again.

CryptoQuant 分析师 Ki Young Ju 表示，这些资金流入导致总持仓量的 30 天净变化再次转为正值。