机构比特币抛售纪录现已超过矿工产量的460%

bitcoinistPublished on 2026-06-11Last updated on 2026-06-11

Abstract

机构比特币抛售创下新纪录,当前抛售量已达到每日矿工产出量的460%。Capriole Investments创始人查尔斯·爱德华兹指出,“机构净买入”指标近期已深陷负值区间,显示机构正进行史无前例的净卖出。该指标通过现货ETF和数字资产国债(DAT)公司的持仓变化来衡量机构行为。 数据显示,今年四五月比特币上涨期间,机构曾积极增持。但随着市场回调,趋势发生逆转。当前抛售主要由ETF驱动,而DAT公司仍在净买入。这种强力抛压远超比特币每日新产出的通胀量。 比特币价格近期一度跌破6.1万美元,随后小幅反弹至约6.23万美元,整体处于震荡整理阶段。

比特币市场的机构抛售已达到新纪录,大型实体抛售的供应量相当于每日挖矿产出的460%。

比特币机构已进行显著的净抛售

正如Capriole Investments创始人查尔斯·爱德华兹在X帖文中所解释的那样,机构正在参与创纪录数量的比特币抛售。这里相关的指标是“机构净买入量”,该指标衡量机构持有量的变化。

为了近似评估机构行为,该指标使用了几个因素,包括现货交易所交易基金(ETF)和数字资产财库(DAT)公司的持有量。

现货ETF是一种代表其持有人购买和托管BTC的投资工具,从而让他们无需操作数字资产交易所和钱包即可接触加密货币的价格波动。同时,DAT公司是在其资产负债表上持有比特币的公司。通过这样做,它们也让其投资者能够间接接触加密货币。

由于现货ETF和DAT公司都受到监管并在传统市场上交易,机构实体可以发现它们是进入比特币等数字资产的便捷途径。

以下是爱德华兹分享的图表,显示了过去几年比特币机构净买入的趋势:

该指标的值在最近几天似乎已跌入负值区域 | 来源:X上的@caprioleio

如上图所示,比特币机构净买入量在四月和五月比特币上涨期间飙升至显著的正面水平,表明机构处于积累模式。

然而,自那时以来市场出现回调,该指标的趋势已经逆转。从图表中可见,在价格下跌之后,该指标的值已大幅跌入红色区域。

事实上,该指标不仅已转为高度负值,实际上还达到了有记录以来的最负水平。“我们目前正见证着创纪录的机构比特币抛售,”该分析师指出。

在图表中,ETF和DAT的供应量变化率数据也单独显示。从这些曲线可以看出,是基金推动了这次抛售,而公司持有者则继续净买入加密货币。

当前机构的抛售量相当于矿工每天在区块链上铸造的比特币供应量的464%。这意味着它们的抛售力度是该资产通胀的数倍。

比特币价格

比特币早前回落至61,000美元以下,但该币种已略有反弹,目前交易价格约为62,300美元。

看起来该币种的价格最近一直在盘整 | 来源:TradingView上的BTCUSDT

Related Questions

Q根据文章,当前机构比特币的净卖出量是每日矿工产出量的多少倍?

A根据文章,当前机构比特币的净卖出量是每日矿工产出量的464%,即约4.6倍。

Q文章中提到的‘净机构买入’指标是如何近似衡量机构行为的?

A该指标通过使用几个因素来近似衡量机构行为,主要包括现货交易所交易基金(ETF)和数字资产国债(DAT)公司的持仓变化。

Q在这次创纪录的比特币机构抛售中,主要是哪类机构在驱动卖出?

A根据文章中的图表曲线,主要是现货ETF基金在驱动这次卖出,而公司持有者(DAT)则继续净买入比特币。

Q文章中提到,比特币的‘净机构买入’指标在何时转为正值?这说明了什么?

A该指标在四月和五月比特币上涨期间转为显著的正值。这表明当时机构正处于积累(买入)模式。

Q文章发布时,比特币的价格大约在什么位置?

A文章发布时,比特币价格在经历一次下探后有所反弹,当时交易价格大约在62,300美元左右。

Related Reads

Warsh's Debut: Will the FED Chair Who Knows Crypto Best Bring Surprises or Shocks to the Market?

Kevin Warsh, the new Federal Reserve Chairman, prepares for his inaugural press conference amidst a challenging macroeconomic landscape: resurgent inflation, a bond market sell-off, and political pressure from President Trump for rate cuts. Uniquely, Warsh holds indirect investments in over 20 crypto and Web3 entities (e.g., Solana, dYdX), making him the first Fed Chair with disclosed crypto exposure. His stance may combine a hawkish, inflation-focused monetary policy with a crypto-friendly regulatory philosophy that shifts from Powell’s “same risk, same rule” approach toward a framework acknowledging blockchain’s productivity value. Warsh’s leadership could impact crypto markets across three dimensions: a paradigm shift in regulation (potentially accelerating pro-innovation legislation and stable币 rules), a re-pricing of risk premiums based on clearer communication and his view of AI as a structural disinflationary force, and a long-term reallocation of global institutional capital driven by increased legitimacy. Two potential scenarios for the press conference are outlined. A “positive surprise” would involve a dovish-leaning tone on rates coupled with signals of regulatory openness, potentially boosting crypto asset valuations. Conversely, a “negative shock” would see a more hawkish-than-expected stance on inflation and rates, triggering a broad risk-asset selloff that crypto markets would not escape. While ethics rules required Warsh to divest his crypto holdings upon confirmation, his deep understanding of the technology may fundamentally lower policy uncertainty and build a more receptive long-term foundation for digital assets’ integration into the mainstream financial system.

marsbit7h ago

Warsh's Debut: Will the FED Chair Who Knows Crypto Best Bring Surprises or Shocks to the Market?

marsbit7h ago

Trading

Spot
Futures

Hot Articles

What is $BITCOIN

DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. How DIGITAL GOLD ($BITCOIN) Works The operational mechanics of DIGITAL GOLD ($BITCOIN) can be elaborated on based on its blockchain design and network attributes: Consensus Mechanism: By leveraging Solana’s unique proof-of-history (PoH) combined with a proof-of-stake (PoS) model, the project ensures efficient transaction validation contributing to the network's high performance. Tokenomics: While specific deflationary mechanisms have not been extensively detailed, the vast maximum token supply implies that it may cater to microtransactions or niche use cases that are still to be defined. Interoperability: There exists the potential for integration with Solana’s broader ecosystem, including various decentralized finance (DeFi) platforms. However, the details regarding specific integrations remain unspecified. Timeline of Key Events Here is a timeline that highlights significant milestones concerning DIGITAL GOLD ($BITCOIN): 2023: The initial deployment of the token occurs on the Solana blockchain, marked by its contract address. 2024: DIGITAL GOLD gains visibility as it becomes available for trading on decentralized exchanges like PumpSwap, allowing users to trade it against SOL. 2025: The project witnesses sporadic trading activity and potential interest in community-led engagements, although no noteworthy partnerships or technical advancements have been documented as of yet. Critical Analysis Strengths Scalability: The underlying Solana infrastructure supports high transaction volumes, which could enhance the utility of $BITCOIN in various transaction scenarios. Accessibility: The potential low trading price per token could attract retail investors, facilitating wider participation due to fractional ownership opportunities. Risks Lack of Transparency: The absence of publicly known backers, developers, or an audit process may yield skepticism regarding the project's sustainability and trustworthiness. Market Volatility: The trading activity is heavily reliant on speculative behavior, which can result in significant price volatility and uncertainty for investors. Conclusion DIGITAL GOLD ($BITCOIN) emerges as an intriguing yet ambiguous project within the rapidly evolving Solana ecosystem. While it attempts to leverage the “digital gold” narrative, its departure from Bitcoin's established role as a store of value underscores the need for a clearer differentiation of its intended utility and governance structure. Future acceptance and adoption will likely depend on addressing the current opacity and defining its operational and economic strategies more explicitly. Note: This report encompasses synthesised information available as of October 2023, and developments may have transpired beyond the research period.

376 Total ViewsPublished 2025.05.13Updated 2025.05.13

What is $BITCOIN

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of BTC (BTC) are presented below.

活动图片