Gate News 訊息，4 月 23 日——比特幣的供給動態在 2026 年正經歷一個重大的結構性轉變，持倉正在從散戶交易者轉移到長期持有者 (LTHs)、ETF 以及機構策略。過去一個月，短期持有者 (STHs) 減持了約 290,000 BTC，而 LTHs、ETF 和結構化策略吸收了超過 370,000 BTC，顯示比特幣正在從由零售主導的風險資產，轉變為機構金庫的固定配置。 LTH 供給大幅飆升，從 1 月的 5.26 百萬 BTC 上升到 4 月中旬的約 8.32 百萬 BTC，現已占流通供給約 75% 14.8 million BTC。2026 年初的機構需求正在吸收新挖出的硬幣數量的約六倍，有效地通過購買幾乎 100% 的新增供給來中和減半後的賣壓。這種集中度正在充當波動率抑制器和價格底。 在 4 月，比特幣現貨 ETF 即使在 Crypto Fear \u0026 Greed 指數仍維持在“Extreme Fear”（極端恐懼）的情況下也錄得淨流入，顯示機構資本在零售恐慌之際採取逆向布局。比特幣現貨 ETF 現持有超過 1.3 百萬 BTC approximately 6-7% of total supply，其中 24.5% 的持倉被歸類為機構與基準驅動。定價權已從加密本土的炒作週期，轉向傳統金融指標，例如用於養老基金與保險基金的夏普比率與資產相關性模型。來自 GENIUS Act 與 CLARITY Act late 2025/early 2026 的監管明確性，提供了對沖基金與主要 401k 計畫所需的安全港，使其得以開始系統性配置。 持有在集中式交易所的比特幣已從 2023 年的超過 3.2 百萬 BTC 下滑至 2026 年 3 月的低於 2.7 百萬 BTC，因機構需求推動資金持續撤出並進入冷儲與託管。主要 CEX 在 3 月下旬出現了顯著的資金外流，大量代幣進入非流通庫存，並收緊了可供出售端的流動性。CryptoQuant 分析師將 $74,000-$75,000 區間辨識為新的機構支撐區。 企業採用加速，Strategy formerly MicroStrategy 在單週 April 13-19 內購買了 34,164 BTC，使其總持倉達到超過 815,000 BTC ~3.9% of total supply。截至目前，全球幾乎有 160 家上市公司已在其資產負債表上持有比特幣，總計約 1.1 百萬 BTC ~5.5% of total supply。在經歷 2026 年第一季的震盪之後，美國現貨 ETF 在 4 月重新出現積極的淨流入，過去四週累計接近 billion，其中 BlackRock 的 IBIT 僅在九天內就新增約 21,500 BTC。摩根士丹利於 2026 年 4 月推出其自有比特幣 ETF MSBT，提供具有競爭力的 14 個基點費率，以接入其顧問網路。

BlockBeats News: On March 26, X platform product manager Nikita Bier announced that they are testing new settings for the post reply function: expanding the "Accounts You Follow" option to include their followers, which means your second-degree connections. This allows more users to engage in interactions while maintaining privacy. Premium members can experience this feature early.

CoreWeave 創始人 Michael Intrator 表示，公司通過以太坊挖礦積累 GPU 應用能力，成功轉型為 AI 算力提供商，市值達 436 億美元。儘管面臨債務擴張質疑，Intrator 強調創新融資結構確保現金流管理。

Gate News report: On March 25, U.S. stock crypto concept stocks collectively declined, with Circle (CRCL) falling 20.1%. The contract for this asset on Hyperliquid is currently trading at $102.7. During the sharp decline, two on-chain whales (0xcee, 0x51b) simultaneously initiated bottom-fishing operations early this morning, each opening approximately $1 million CRCL long positions. Their average entry prices were $106 and $103 respectively, with liquidation prices at their closest point located at $95.8.

Robinhood announced on March 25 a stock repurchase program authorization of up to $1.5 billion, expected to be executed within three years. Chief Financial Officer Shiv Verma stated that this move reflects management's confidence in the company's continued innovation and shareholder value. Despite the stock price more than doubling last year, it has declined 39% since early 2026.

Gate News report: On March 25, SpaceX plans to submit an IPO application as early as this week. SpaceX's latest valuation is $125 billion, and it may raise over $75 billion through the IPO. The actual offering size and valuation will be finalized only a few weeks before the IPO.

Gate News reported that on March 25, a certain CEX announced approval of a new stock buyback plan, authorizing the company to repurchase up to 1.5 billion USD of its own shares, expected to be executed over approximately three years. The exchange's stock price has cumulatively declined 39% since early 2026, and the company views this as a buyback opportunity.

On March 23rd, Ethereum OG investor sold nearly $31 million worth of ETH, drawing market attention. The wallet "0xa2F…F85A" sold 15,002 ETH and still holds 14,814 ETH. Another whale sold 5,000 ETH to repay loans, holding approximately 126,000 ETH. Ethereum's price has recently declined, and on-chain fund flows show early holders gradually cashing in profits.

On March 23rd, gold prices fell 2%, approaching $4,400, marking a new low since the end of 2025, with selling wiping out nearly all gains from early 2026. The Iran war and oil crisis are impacting gold price movements, with rising crude oil prices exacerbating inflation, central banks maintaining interest rates or even hiking them, and rising bond yields weakening gold's appeal, while a stronger dollar suppresses demand. Insufficient speculative momentum is accelerating the selloff, with the market showing clear disagreement on the outlook. $4,300 serves as a key support level; a break below could trigger accelerated selling. Analysts predict gold could potentially return above $5,000, but market risks and external impacts warrant caution.