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DOGE $0.0769 +0.45%
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LINK $11.42 +0.60%
HYPE $77.02 +1.44%
AAVE $135.16 -0.51%
SUI $0.9138 +0.14%
XLM $0.1686 -0.18%
ZEC $1,223.34 +2.36%
AAPL $344.13 -0.84%
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GOOGL $322.45 +0.27%
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INTC $87.02 +0.58%
SPCX $148.22 +0.59%
MU $889.77 +0.27%
AMD $516.79 -0.16%
BTC $80,236.11 -0.09%
ETH $2,327.36 -0.09%
BNB $738.65 -0.26%
XRP $1.29 -0.37%
SOL $101.32 +0.50%
TRX $0.3306 +0.53%
DOGE $0.0769 +0.45%
ADA $0.2043 +0.42%
BCH $279.80 +2.63%
LINK $11.42 +0.60%
HYPE $77.02 +1.44%
AAVE $135.16 -0.51%
SUI $0.9138 +0.14%
XLM $0.1686 -0.18%
ZEC $1,223.34 +2.36%
AAPL $344.13 -0.84%
AMZN $249.12 +0.14%
GOOGL $322.45 +0.27%
MSFT $527.73 +0.73%
META $654.52 +2.12%
NVDA $212.14 0.00%
TSLA $379.38 +2.26%
SNDK $1,256.20 +1.42%
INTC $87.02 +0.58%
SPCX $148.22 +0.59%
MU $889.77 +0.27%
AMD $516.79 -0.16%

비트코인 “한정 2100만 개” 판매점이 시장의 의문을 사고 있으며, ETF와 선물이 “합성 공급”을 만들어 시장에 충격을 주고 있다

2026-02-05 20:35:54

随着比特币抛售加剧跌破 7 万美元,其"限量 2100 万枚"的核心卖点正遭市场质疑,分析人士指出 ETF、现金结算期货、期权及融资借贷等衍生工具已稀释比特币稀缺性,创造出"合成供应",使价格更多受衍生品交易而非供需驱动。

资深分析师 Bob Kendall 发文表示:"一旦可以合成供应,资产不再稀缺,价格就变成衍生品游戏,这正是比特币当前的现状。类似结构性变化也曾出现在黄金、白银、石油及股票市场。"

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