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BTC $76,179.67 +2.08%
ETH $2,369.98 +1.25%
BNB $635.87 +2.32%
XRP $1.46 +3.17%
SOL $88.84 +4.07%
TRX $0.3241 -0.74%
DOGE $0.1000 +3.53%
ADA $0.2604 +4.03%
BCH $451.82 +2.76%
LINK $9.61 +3.12%
HYPE $44.11 -2.09%
AAVE $116.71 +9.27%
SUI $1.00 +3.21%
XLM $0.1706 +5.59%
ZEC $340.54 -0.95%

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
수집

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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