<p>投资者本周退缩，因为不断变化的押注和快速的获利了结使资金流出现货加密货币 ETF。市场变化迅速，一些最大的波动是由短期反应驱动的，而不是长期观点的变化。</p>
<p><strong>现货加密货币 ETF 资金流动</strong></p>
<p>根据 Farside 的报告，美国的现货比特币 ETF 在五个交易日内流出约 15 亿美元，而现货以太坊 ETF 的流出大约为 3.27 亿美元。</p>
<p>这在短短几天内总共从这些基金中抽走了约 18 亿美元。1 月 14 日的报告显示，比特币 ETF 有非常大的流入——8.4 亿美元，这表明资金进出是多么迅速。</p>
<p>一些交易者将那一天视为买入时机，而其他人则利用它来获利。这种推拉关系在数字中显现出来。</p>
<p><strong>金属的上涨，然后是突然的下跌</strong></p>
<p>当黄金和白银攀升至新高时，引起了人们的关注。价格飙升，许多投资者将资金转入贵金属。</p>
<p>但这次上涨是短暂的。在一个交易日内，黄金从高点急剧下跌，白银的跌幅甚至更大。</p>
<p>报告称，这些突然的逆转让一些投资者重新考虑他们的举动，并帮助在其他风险资产（包括加密货币）中形成了一波抛售。比特币价格动态</p>
<p>比特币波动不定。在过去一周，BTC 下跌约 6.50%，而以太坊下跌约 8.90%，根据 CoinMarketCap 的数据，它们的交易价格分别约为 82,500 美元和 2,685 美元。</p>
<p>在谈论美国 CLARITY 法案后，市场短暂上涨，但价格随后回落。这种波动通常与头寸、保证金要求以及交易者对新闻的反应有关。</p>
<p>有时，大量资金流入 ETF 会推高价格。而其他时候，资金流出与交易者迅速平仓的波动日相吻合。分析师的看法</p>
<p>报告指出，一些市场观察者认为此次回调是暂时的。ETF 分析师 Eric Balchunas 表示，目前对比特币价格的负面情绪是短视的，并指出过去几年的强劲表现作为背景。</p>
<p>另一位声音，Bitwise 的 Matt Hougan，建议持续的 ETF 需求可能会使比特币在未来一段时间内进入更高的轨道。</p>
<p>这些观点反映了不同的时间框架——有些关注即时流动，有些则关注稳定的需求如何在未来几个月影响价格。</p>
<p><em>图片来自 Unsplash，图表来自 TradingView</em></p>

<p>投资者本周从现货加密货币 ETF 中撤回了 18 亿美元，其中 15 亿美元来自比特币 ETF，3.27 亿美元来自以太坊 ETF。这一回撤与黄金和白银的短暂反弹相吻合，但随后迅速逆转，导致风险资产（包括加密货币）的进一步抛售。比特币本周下跌了 6.50%，以太坊下跌了 8.90%。分析师认为，这一回撤可能是暂时的，一些人预计持续的 ETF 需求将对比特币的价格在长期内产生积极影响</p>

<p>Investors stepped back this week as a mix of shifting bets and quick profit-taking pushed money out of spot crypto ETFs. Markets moved fast, and some of the biggest swings were driven by short-term reactions rather than a change in long-term views.</p>
<div class="lb-trans"><p>投资者本周退缩，因为不断变化的押注和快速的获利了结使资金流出现货加密货币 ETF。市场变化迅速，一些最大的波动是由短期反应驱动的，而不是长期观点的变化。</p>
</div><p><strong>Spot Crypto ETF Flows</strong></p>
<div class="lb-trans"><p><strong>现货加密货币 ETF 资金流动</strong></p>
</div><p>Based on reports from Farside, US-based spot Bitcoin ETFs saw about $1.50 billion leave over five trading days, while spot Ether ETFs had roughly $327 million in outflows.</p>
<div class="lb-trans"><p>根据 Farside 的报告，美国的现货比特币 ETF 在五个交易日内流出约 15 亿美元，而现货以太坊 ETF 的流出大约为 3.27 亿美元。</p>
</div><p>That adds up to about $1.80 billion pulled from these funds in just a few days. On Jan. 14, reports note a very large inflow for Bitcoin ETFs — $840 million — which shows how quickly money can go in and out.</p>
<div class="lb-trans"><p>这在短短几天内总共从这些基金中抽走了约 18 亿美元。1 月 14 日的报告显示，比特币 ETF 有非常大的流入——8.4 亿美元，这表明资金进出是多么迅速。</p>
</div><p>Some traders treated that day as a buying moment. Others used it to take profit. That push-and-pull shows up in the numbers.</p>
<div class="lb-trans"><p>一些交易者将那一天视为买入时机，而其他人则利用它来获利。这种推拉关系在数字中显现出来。</p>
</div><p><strong>A Rally In Metals, Then A Sudden Drop</strong></p>
<div class="lb-trans"><p><strong>金属的上涨，然后是突然的下跌</strong></p>
</div><p>Gold and silver grabbed attention when they climbed to fresh highs. Prices surged, and many investors moved money into precious metals.</p>
<div class="lb-trans"><p>当黄金和白银攀升至新高时，引起了人们的关注。价格飙升，许多投资者将资金转入贵金属。</p>
</div><p>But the rally was short-lived. On a single trading day, gold fell sharply from its peak and silver tumbled even more.</p>
<div class="lb-trans"><p>但这次上涨是短暂的。在一个交易日内，黄金从高点急剧下跌，白银的跌幅甚至更大。</p>
</div><p>Reports say those sudden reversals left some investors rethinking their moves and helped create a wave of selling across other risk assets, including crypto. Bitcoin Price Action</p>
<div class="lb-trans"><p>报告称，这些突然的逆转让一些投资者重新考虑他们的举动，并帮助在其他风险资产（包括加密货币）中形成了一波抛售。比特币价格动态</p>
</div><p>Bitcoin has been swinging. Over the past week, BTC fell about 6.50% while Ether dropped around 8.90%, and they were trading around $82,500 and $2,685, respectively, according to CoinMarketCap.</p>
<div class="lb-trans"><p>比特币波动不定。在过去一周，BTC 下跌约 6.50%，而以太坊下跌约 8.90%，根据 CoinMarketCap 的数据，它们的交易价格分别约为 82,500 美元和 2,685 美元。</p>
</div><p>The market had a short spike after talk of the US CLARITY Act, but prices then cooled. Moves like this are often tied to positioning, margin calls, and traders reacting to headlines.</p>
<div class="lb-trans"><p>在谈论美国 CLARITY 法案后，市场短暂上涨，但价格随后回落。这种波动通常与头寸、保证金要求以及交易者对新闻的反应有关。</p>
</div><p>At times, large flows into ETFs have pushed prices up. Other times, outflows coincide with volatile days when traders close positions quickly.What Analysts Are Saying</p>
<div class="lb-trans"><p>有时，大量资金流入 ETF 会推高价格。而其他时候，资金流出与交易者迅速平仓的波动日相吻合。分析师的看法</p>
</div><p>Reports note that some market watchers view the pullback as temporary. ETF analyst Eric Balchunas said the current negativity about Bitcoin’s price is short-sighted and pointed to strong performance in prior years as context.</p>
<div class="lb-trans"><p>报告指出，一些市场观察者认为此次回调是暂时的。ETF 分析师 Eric Balchunas 表示，目前对比特币价格的负面情绪是短视的，并指出过去几年的强劲表现作为背景。</p>
</div><p>Another voice, Bitwise’s Matt Hougan, suggested that continued ETF demand could send Bitcoin into a much higher trajectory over time.</p>
<div class="lb-trans"><p>另一位声音，Bitwise 的 Matt Hougan，建议持续的 ETF 需求可能会使比特币在未来一段时间内进入更高的轨道。</p>
</div><p>These views reflect different timeframes — some focus on immediate flows, others on how steady demand might shape prices months from now.</p>
<div class="lb-trans"><p>这些观点反映了不同的时间框架——有些关注即时流动，有些则关注稳定的需求如何在未来几个月影响价格。</p>
</div><p><em>Featured image from Unsplash, chart from TradingView</em></p>
<div class="lb-trans"><p><em>图片来自 Unsplash，图表来自 TradingView</em></p>
</div>

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