BTC $77,699.45 -0.49%
ETH $2,416.98 -1.60%
BNB $683.43 -1.21%
XRP $1.34 -3.59%
SOL $101.57 -3.60%
TRX $0.3358 -1.20%
DOGE $0.0815 -4.06%
ADA $0.1928 -3.84%
BCH $243.43 -1.00%
LINK $11.09 -2.77%
HYPE $80.20 -3.67%
AAVE $122.49 -2.40%
SUI $0.7118 -3.97%
XLM $0.1742 -2.78%
ZEC $823.47 -1.41%
BTC $77,699.45 -0.49%
ETH $2,416.98 -1.60%
BNB $683.43 -1.21%
XRP $1.34 -3.59%
SOL $101.57 -3.60%
TRX $0.3358 -1.20%
DOGE $0.0815 -4.06%
ADA $0.1928 -3.84%
BCH $243.43 -1.00%
LINK $11.09 -2.77%
HYPE $80.20 -3.67%
AAVE $122.49 -2.40%
SUI $0.7118 -3.97%
XLM $0.1742 -2.78%
ZEC $823.47 -1.41%

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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