美投资者远离比特币，继续下跌担忧加剧

Core Viewpoint - Bitcoin is currently hovering around the $60,000 range, having dropped to about half of its all-time high, with concerns about further declines as U.S. investment funds are flowing out of the market [2][4]. Group 1: Market Trends - In the past 30 days, the outflow of funds from major cryptocurrencies like Bitcoin, Ethereum, and leading stablecoins has reached $40 billion, marking the largest outflow since the FTX Trading collapse in 2022 [6]. - The price of Bitcoin has been in a downward trend since reaching a historical high of $126,000 in October 2025, exacerbated by stalled progress on the Digital Asset Market Clarity Act and the nomination of Kevin Walsh as the next Federal Reserve Chair [4][6]. Group 2: Institutional Investor Behavior - The outflow of funds is primarily attributed to U.S. institutional investors, with the Coinbase premium indicator reflecting a lack of buying interest among American investors, as it has remained negative since late 2025 [6][7]. - The Bitcoin spot ETF listed in the U.S. has seen outflows exceed inflows since November 2025, with expectations of a record four consecutive months of net outflows starting in February 2026 [6]. Group 3: Price Correlation and Future Outlook - Bitcoin was initially included in asset allocations by U.S. institutional investors to enhance diversification, but its price has increasingly correlated with traditional assets like stocks since fall 2025, leading to significant sell-offs [7]. - Analysts suggest that the potential for a price reversal hinges on policy support, particularly regarding the Digital Asset Market Clarity Act, with some expressing skepticism about the likelihood of its passage [8].