据 Woofun AI 消息，BTC 价格在 77,000 美元附近剧烈震荡，ETF 投资者持仓随之波动，市场宏观背景与核心矛盾由此显现。
尽管波动剧烈，过去 30 天比特币 ETF 仍获超过 30 亿美元新增资金流入，带动 BTC 涨幅达 22%。相比之下，其他加密货币 ETF 趋势平稳，以太坊、瑞波及 Solana 相关产品持续吸引资金。Woofun AI 整理数据显示，即便在比特币疲软期，上述资产仍保持流入态势。
周三市场出现反转，山寨币 ETF 遭遇近两周以来首次资金流出。此前以太坊相关 ETF 累计净流入约 130.3 亿美元，但这一势头被打破。Hyperliquid、BNB 及其他几款山寨币 ETF 净资金流归零，未能填补缺口，反转幅度虽相对较小，但信号明确。
每日数据未证实投资者从山寨币抽资转向比特币，但两大阵营状态迥异：比特币连续四个交易日资金流入与流出交替，而以太坊等失去持续资金需求。接下来的交易情况将揭示买入势头能否迅速恢复，或 ETF 需求整体是否发生转变。
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