BlockBeats 消息，5 月 14 日，HTX Research 研究员 Chloe（@ChloeTalk1）在最新一期 HTX DeepThink 专栏中表示，5 月 13 日公布的 4 月美国 CPI 数据低于市场预期，强化了美联储年内降息的预期。在美联储量化紧缩（QT）节奏放缓、税收季财政资金回流以及货币市场基金资金从逆回购工具（RRP）流出等多重因素推动下，宏观流动性阶段性释放，加密市场资金明显回流，带动 BTC、ETH、SOL 等核心资产强劲反弹。
机构资金持续入场，BTC 期货未平仓合约（OI）维持高位，占现货流通量的 3.4%；ETH 与 SOL 衍生品市场同步回暖，流动性回升明显。
不过 Chloe 也警告称，当前 BTC 与 ETH 的短期持有者处于高盈利状态，且衍生品市场杠杆头寸密集，若价格突破或跌破关键技术位置，可能引发集中获利了结与强平链式反应，导致市场短期波动加剧。
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