在过去的两个星期中

截至4月中旬，这种持有的持股量使鲸鱼的总平衡总计超过349.8万BTC。

output: Whales have accumulated over 43,100 Bitcoin (BTC), worth nearly $4 billion, in the past two weeks, according to data shared by Ali Martinez.

产量：根据阿里·马丁内斯（Ali Martinez）的数据，鲸鱼在过去两周中累积了超过43,100个比特币（BTC），价值近40亿美元。

This surge in holdings brings the total whale balance to over 3.54 million BTC, up from 3.498 million BTC as of mid-April.

截至4月中旬，这种持有的持股量使鲸鱼的总平衡总计超过349.8万BTC。

The timing is notable: Bitcoin has reclaimed strength in April, currently trading just below $94,100 after a strong rebound from sub-$80K levels earlier in the month.

时机是值得注意的：比特币在四月份恢复了实力，目前的交易价格低于94,100美元，此前本月早些时候从低于80k的水平篮板上有强劲的反弹。

Spot Bitcoin ETFs have continued to attract capital despite macro uncertainty. The nine-day stretch from April 21 to April 29 saw consistent inflows totaling over $4 billion, led by IBIT and EZBC.

尽管宏观不确定性，但现货比特币ETF仍继续吸引资本。从4月21日到4月29日的9天延长，由IBIT和EZBC领导，总计超过40亿美元。

April 23–24 alone generated $1.36 billion, demonstrating a persistent appetite among U.S. institutions. While GBTC outflows remain a drag, net ETF demand continues to support BTC’s price floor near current levels.

仅4月23日至24日，就产生了13.6亿美元，证明了美国机构中持续的食欲。尽管GBTC流出仍然是一个阻力，但净ETF需求继续支持BTC在当前水平附近的价格平台。

Derivatives Send Mixed Signals Amid Higher Volume

衍生品在较高的卷中发出混合信号

Bitcoin derivatives volume jumped 17% in the last 24 hours to $91.5 billion, but open interest dipped slightly by 1.68%. Long/short ratios across Binance and OKX show a nearly neutral bias, just under 1.0, suggesting traders remain cautious near local highs.

在过去的24小时内，比特币衍生品数量增长了17％，达到915亿美元，但开放式利息略有下降1.68％。整个Binance和OKX的长/短比率显示出几乎中立的偏见，不到1.0，这表明贸易商在当地高点附近保持谨慎。

Notably, top trader positioning on Binance remains skewed long, and liquidation data reveals over $77 million in 24-hour rekt positions, primarily short.

值得注意的是，最高交易者在二元方面的定位仍然很长，清算数据显示24小时的REKT位置超过7,700万美元，主要是很短。

Smart Money Loads Up, But Momentum Needs Confirmation

明智的钱增加了，但是动力需要确认

Whales are clearly buying with conviction, and ETF flows back the narrative of strong institutional support. But the flattening of open interest and cautious leverage metrics hint that momentum isn’t guaranteed.

鲸鱼显然是通过信念购买的，而ETF则回流了强大的机构支持的叙述。但是，开放兴趣和谨慎的杠杆指标的扁平化暗示，不能保证势头。

Bitcoin may need another catalyst—or a clean break above $95K—to unlock the next leg. Until then, the market appears to be coiling in anticipation of a decisive move, with derivatives data showing traders hedging more than speculating. If inflows persist and volatility returns, BTC could be gearing up for another push toward six figures.

比特币可能需要另一个催化剂，或者比比特币以高于$ 95k的清洁休息来解锁下一条腿。在此之前，市场似乎是由于决定性的举动而盘绕的，衍生品数据显示，贸易商的套期保值远不止于猜测。如果流入持续且波动率返回，BTC可能会为六位数的另一个推动而努力。