Bernstein:比特币资金流入大幅放缓源于散户转投 AI,而非量子计算风险

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ChainCatcher 消息,据 CoinDesk 报道,华尔街券商 Bernstein 发布研究报告指出,2026 年 Bitcoin 价格走弱的主要驱动因素是资本流动放缓,而非市场担忧的量子计算威胁。

报告显示,今年 Bitcoin 国库公司及 ETF 合计吸引约 120 亿美元流入,较 2025 年的 600 亿美元大幅缩水;ETF 在 750 亿美元资产规模基础上录得约 26 亿美元净流出,新增需求主要来自以 Strategy(MSTR)为代表的企业买家。Bernstein 分析师将资金放缓归因于散户大量涌入 AI 相关资产,今年加密市场表现最强的领域集中于代币化股票与大宗商品。

尽管如此,分析师认为 ETF 流出规模尚属温和,Bitcoin 投资者结构已从散户主导转向 ETF、企业财库、财富管理平台、养老金及主权投资者等多元主体,市场结构更趋健康,长期价值储存逻辑并未受损。

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