加密幣市場情緒分歧:華爾街堅定看多比特幣、非美投資人卻急撤退

全球比特幣市場的情緒分歧正在擴大。最新數據顯示,正當美國境外資金大舉撤退之際,來自華爾街的機構投資人卻顯得老神在在,持續堅守陣地。 這股「冷熱溫差」在期貨市場尤為明顯。根據 NYDIG 研究主管 Greg Cipolaro 的說法,作為美國避險基金、機構法人主戰場的芝商所(CME),目前仍顯示投資人願意支付溢價來維持比特幣多頭部位。 若觀察「一個月期的年化基差(期貨價格相對與現貨價格的溢價幅度)」可以發現,芝商所的溢價水準明顯高於美國境外最大的加密貨幣衍生品交易所 Deribit 。 Greg Cipolaro 指出:「境外市場基差下降更為顯著,顯示市場對高槓桿多頭部位的胃口正在降溫。」 他認為,芝商所與 Deribit 兩者基差的擴大,儼然成為衡量全球不同地區資金「風險偏好」的即時溫度計:美國機構仍在買單,但境外投資人已開始縮手。 回顧本月稍早,比特幣一度下探 60,000 美元大關後展開反彈。當時市場曾流傳一派說法,擔憂「量子運算」技術的突破可能破解比特幣的加密機制,進而引發恐慌性拋售。 不過,NYDIG 認為,相關數據並不支持這種說法。首先,比特幣的走勢其實與上市量子運算公司 —— 如 IONQ(IONQ)、 D-Wave Quantum(QBTS)—— 連動性極高。邏輯很簡單:如果量子電腦真的是「比特幣終結者」,那麼當量子技術突破、相關公司股價大漲時,比特幣理應大跌才對。 然而,實際情況卻是兩者同步走弱。換言之,這更像是一場針對「長期、未來敘事型資產」的全面風險偏好降溫,而非單一針對比特幣的技術性疑慮。

免責聲明:本頁面資訊可能來自第三方,不代表 Gate 的觀點或意見。頁面顯示的內容僅供參考,不構成任何財務、投資或法律建議。Gate 對資訊的準確性、完整性不作保證,對因使用本資訊而產生的任何損失不承擔責任。虛擬資產投資屬高風險行為,價格波動劇烈,您可能損失全部投資本金。請充分了解相關風險,並根據自身財務狀況和風險承受能力謹慎決策。具體內容詳見聲明

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