<h2><strong>關鍵要點</strong></h2>
<p><em>數字資產流出 2.23 億美元，結束了 14 周的連續流入。比特幣承受了主要壓力，而以太坊則繼續吸引資金流入。</em></p>
<hr/>
<p>截至 8 月 2 日的一週，數字資產投資產品錄得 2.23 億美元的淨流出，這是連續 14 周流入後的首次回撤。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/3B3EEB8D-B262-4DE8-90C2-E3961468BDD5.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/3B3EEB8D-B262-4DE8-90C2-E3961468BDD5.webp"/></p>
<p>來源：CoinShares</p>
<p>這一週以 8.83 億美元的流入強勁開局，但隨着總加密市場市值下降 9.48%，投資者情緒迅速轉變，約 3700 億美元的市值被抹去。</p>
<p>觸發因素？美國聯邦儲備委員會的鷹派語氣。</p>
<h2><strong>鷹派美國政策引發投資者拋售</strong></h2>
<p>拋售是由於美國投資者對鷹派的聯邦公開市場委員會（FOMC）報告作出的反應，該報告指出，</p>
<blockquote>
<p>“通貨膨脹仍然處於相對高位。”</p>
</blockquote>
<p>在報告發布後，美國投資者拋售了價值 3.83 億美元的數字資產產品，使得本月迄今的流出總額達到 9.74 億美元，距離 10 億美元僅一步之遙。</p>
<p>來自德國、瑞典和巴西的投資者也參與了拋售，共同拋售了價值 8100 萬美元的加密產品。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/51DA85CA-BAB7-427F-A10F-A9F06159F464.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/51DA85CA-BAB7-427F-A10F-A9F06159F464.webp"/></p>
<p>來源：CoinShares</p>
<p>比特幣 [BTC] 佔據了流出的主要部分，錄得 4.04 億美元的淨損失，幾乎將其本月迄今的流出額削減了一半，降至 8.44 億美元。</p>
<p>Sui [SUI] 和萊特幣 [LTC] 的流出相對較小，各為 100 萬美元。</p>
<p>另一方面，以太坊 [ETH] 仍然是一個例外。它錄得連續第 15 周的資金流入，增加了 1.339 億美元，表明投資者偏好向以太坊轉移，而非比特幣。</p>
<p>與此同時，投資者對索拉納 [SOL]、瑞波幣 [XRP] 和卡爾達諾 [ADA] 的興趣也增加了 4100 萬美元的累計流入。</p>
<h2><strong>黑石逆勢而為，積極增持</strong></h2>
<p>儘管大多數機構投資者退出了他們的比特幣和以太坊交易所交易基金（ETF）頭寸，黑石卻採取了相反的做法。</p>
<p>該公司的現貨比特幣和以太坊 iShares ETF 分別錄得 3.553 億美元和 3.942 億美元的流入，表明黑石認為這兩種資產的交易價格處於折扣狀態。</p>
<p>然而，廣泛的機構情緒並未反映這一舉動。這一週以顯著的拋售開始。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Screenshot-2025-08-05-at-10.14.30.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Screenshot-2025-08-05-at-10.14.30.png"/></p>
<p>來源：CoinGlass</p>
<p>根據 CoinGlass 的數據，僅在過去一天內，價值 3.235 億美元的比特幣現貨 ETF 被出售。以太坊現貨 ETF 部分的撤回幅度更大——創下單日最大流出記錄。</p>
<p>持續的拋售壓力錶明一種廣泛的撤資趨勢，這可能會對比特幣和以太坊的價格造成壓力。</p>
<p>儘管如此，市場的長期前景仍然保持穩定。</p>
<p>數字資產產品的管理總資產（AUM）保持在 2150 億美元，表明這可能是一次暫時的回撤，而非長期的逆轉。</p>

ETHE

<p>數字資產經歷了 2.23 億美元的資金流出，結束了連續 14 周的資金流入，主要是由於比特幣損失了 4.04 億美元。此次拋售是由於美國聯邦儲備委員會發布的鷹派報告引發的，導致整個加密市場市值下降了 9.48%。相比之下，以太坊連續第 15 周實現資金流入，增加了 1.339 億美元。儘管趨勢如此，黑石公司仍積極增持比特幣和以太坊 ETF，表明對數字資產的潛在長期看好，管理的總資產保持在 2150 億美元</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>關鍵要點</strong></h2>
</div><p><em>Digital assets saw $223 million in outflows, ending a 14-week streak. Bitcoin bore the brunt, while Ethereum continued to attract inflows.</em></p>
<div class="lb-trans"><p><em>數字資產流出 2.23 億美元，結束了 14 周的連續流入。比特幣承受了主要壓力，而以太坊則繼續吸引資金流入。</em></p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p>Digital asset investment products recorded $223 million in net outflows during the week ending the 2nd of August, the first pullback after 14 straight weeks of inflows.</p>
<div class="lb-trans"><p>截至 8 月 2 日的一週，數字資產投資產品錄得 2.23 億美元的淨流出，這是連續 14 周流入後的首次回撤。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/3B3EEB8D-B262-4DE8-90C2-E3961468BDD5.webp" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/08/3B3EEB8D-B262-4DE8-90C2-E3961468BDD5.webp"/></p>
<p>Source: CoinShares</p>
<div class="lb-trans"><p>來源：CoinShares</p>
</div><p>The week began strong with $883 million in inflows, but investor sentiment shifted quickly as the total crypto market cap fell 9.48%, erasing approximately $370 billion.</p>
<div class="lb-trans"><p>這一週以 8.83 億美元的流入強勁開局，但隨着總加密市場市值下降 9.48%，投資者情緒迅速轉變，約 3700 億美元的市值被抹去。</p>
</div><p>The trigger? A hawkish U.S. Federal Reserve tone.</p>
<div class="lb-trans"><p>觸發因素？美國聯邦儲備委員會的鷹派語氣。</p>
</div><h2><strong>Hawkish U.S. policy sparks investor sell-off</strong></h2>
<div class="lb-trans"><h2><strong>鷹派美國政策引發投資者拋售</strong></h2>
</div><p>The sell-off was triggered by U.S. investors reacting to a hawkish Federal Open Market Committee (FOMC) report, which stated that,</p>
<div class="lb-trans"><p>拋售是由於美國投資者對鷹派的聯邦公開市場委員會（FOMC）報告作出的反應，該報告指出，</p>
</div><blockquote>
<p>“Inflation remains somewhat elevated.”</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>“通貨膨脹仍然處於相對高位。”</p>
</blockquote>
</div><p>Following the report, U.S. investors offloaded $383 million worth of digital asset products, pushing the month-to-date outflow to $974 million, just shy of the $1 billion mark.</p>
<div class="lb-trans"><p>在報告發布後，美國投資者拋售了價值 3.83 億美元的數字資產產品，使得本月迄今的流出總額達到 9.74 億美元，距離 10 億美元僅一步之遙。</p>
</div><p>Investors from Germany, Sweden, and Brazil also contributed to the sell-off, collectively dumping $81 million worth of crypto products.</p>
<div class="lb-trans"><p>來自德國、瑞典和巴西的投資者也參與了拋售，共同拋售了價值 8100 萬美元的加密產品。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/51DA85CA-BAB7-427F-A10F-A9F06159F464.webp" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/08/51DA85CA-BAB7-427F-A10F-A9F06159F464.webp"/></p>
<p>Source: CoinShares</p>
<div class="lb-trans"><p>來源：CoinShares</p>
</div><p>Bitcoin [BTC] accounted for the bulk of outflows, recording $404 million in net losses, almost halving its month-to-date outflow of $844 million.</p>
<div class="lb-trans"><p>比特幣 [BTC] 佔據了流出的主要部分，錄得 4.04 億美元的淨損失，幾乎將其本月迄今的流出額削減了一半，降至 8.44 億美元。</p>
</div><p>Sui [SUI] and Litecoin [LTC] saw relatively minor outflows of just $1 million each.</p>
<div class="lb-trans"><p>Sui [SUI] 和萊特幣 [LTC] 的流出相對較小，各為 100 萬美元。</p>
</div><p>Ethereum [ETH], on the other hand, remained an outlier. It recorded its 15th consecutive week of inflows, adding $133.9 million, suggesting a shift in investor preference toward Ethereum over Bitcoin.</p>
<div class="lb-trans"><p>另一方面，以太坊 [ETH] 仍然是一個例外。它錄得連續第 15 周的資金流入，增加了 1.339 億美元，表明投資者偏好向以太坊轉移，而非比特幣。</p>
</div><p>Meanwhile, investor interest in Solana [SOL], Ripple [XRP], and Cardano [ADA] added another $41 million in cumulative inflows.</p>
<div class="lb-trans"><p>與此同時，投資者對索拉納 [SOL]、瑞波幣 [XRP] 和卡爾達諾 [ADA] 的興趣也增加了 4100 萬美元的累計流入。</p>
</div><h2><strong>BlackRock defies trend with aggressive accumulation</strong></h2>
<div class="lb-trans"><h2><strong>黑石逆勢而為，積極增持</strong></h2>
</div><p>While most institutional investors exited their Bitcoin and Ethereum exchange-traded fund (ETF) positions, BlackRock took the opposite approach.</p>
<div class="lb-trans"><p>儘管大多數機構投資者退出了他們的比特幣和以太坊交易所交易基金（ETF）頭寸，黑石卻採取了相反的做法。</p>
</div><p>The firm’s spot Bitcoin and Ethereum iShares ETFs recorded inflows of $355.3 million and $394.2 million, respectively, suggesting that BlackRock views both assets as trading at a discount.</p>
<div class="lb-trans"><p>該公司的現貨比特幣和以太坊 iShares ETF 分別錄得 3.553 億美元和 3.942 億美元的流入，表明黑石認為這兩種資產的交易價格處於折扣狀態。</p>
</div><p>However, the wider institutional sentiment didn’t mirror this move. The week began with a significant sell-off.</p>
<div class="lb-trans"><p>然而，廣泛的機構情緒並未反映這一舉動。這一週以顯著的拋售開始。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Screenshot-2025-08-05-at-10.14.30.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/08/Screenshot-2025-08-05-at-10.14.30.png"/></p>
<p>Source: CoinGlass</p>
<div class="lb-trans"><p>來源：CoinGlass</p>
</div><p>According to CoinGlass, $323.5 million worth of Bitcoin spot ETFs were sold in the past day alone. The Ethereum spot ETF segment saw an even steeper withdrawal—its single-largest one-day outflow yet.</p>
<div class="lb-trans"><p>根據 CoinGlass 的數據，僅在過去一天內，價值 3.235 億美元的比特幣現貨 ETF 被出售。以太坊現貨 ETF 部分的撤回幅度更大——創下單日最大流出記錄。</p>
</div><p>Continued selling pressure like this signals a broad divestment trend that could weigh on the prices of both Bitcoin and Ethereum.</p>
<div class="lb-trans"><p>持續的拋售壓力錶明一種廣泛的撤資趨勢，這可能會對比特幣和以太坊的價格造成壓力。</p>
</div><p>Still, the market’s longer-term outlook remains intact.</p>
<div class="lb-trans"><p>儘管如此，市場的長期前景仍然保持穩定。</p>
</div><p>The total assets under management (AUM) for digital asset products remain steady at $215 billion, suggesting that this could be a temporary pullback rather than a long-term reversal.</p>
<div class="lb-trans"><p>數字資產產品的管理總資產（AUM）保持在 2150 億美元，表明這可能是一次暫時的回撤，而非長期的逆轉。</p>
</div>

比特幣出現 4.04 億美元的資金流出，而以太坊則連續 15 周資金流入：這背後發生了什麼？