比特幣（BTC）下降到100,000美元以下，但長期敘述仍然很強

在加密貨幣市場中，2025年應該是比特幣的一年（BTC -0.37％）。但是比特幣最近下跌低於最重要的100,000美元價格水平

Bitcoin (CRYPTO: BTC) has recently dipped below the all-important $100,000 price level for the first time during the Trump presidency. This has naturally caused some concern among investors, especially those who are new to the cryptocurrency market. However, for longtime crypto investors, this is nothing new. They know exactly what to do anytime Bitcoin suddenly declines in value. You buy the dip.

比特幣（Crypto：BTC）最近在特朗普總統任期期間首次降至最重要的100,000美元價格水平。這自然引起了投資者的關注，尤其是那些是加密貨幣市場的人。但是，對於長期的加密投資者來說，這並不是什麼新鮮事物。他們確切地知道該怎麼做的任何時間比特幣突然下降。你買蘸醬。

Bitcoin fell below the $100,000 mark earlier this week. So, what happened? Some think it has to do with the launch of DeepSeek, the new Chinese AI competitor to ChatGPT. According to this narrative, investors now need to revalue all risky tech assets -- and that includes Bitcoin. That's why we're seeing an across-the-board decline both in tech stocks and cryptos.

本週早些時候，比特幣低於100,000美元。那麼，發生了什麼事？有人認為這與新的中國人工智能競爭對手DeepSeek的推出有關。根據這一敘述，投資者現在需要重估所有有風險的技術資產，其中包括比特幣。這就是為什麼我們看到科技股和加密貨幣的全面下降的原因。

However, Bitcoin also fell to the $90,000 mark just two weeks earlier. The decline was attributed to macroeconomic weakness in the U.S. economy. There's an old saying: "Anytime the Fed sneezes, the market catches a cold." The new saying might well be, "Anytime the Fed sneezes, Bitcoin catches a cold." It's just an unfortunate reality -- the more that Bitcoin goes mainstream, the more susceptible it is to the macroeconomic factors that impact traditional financial assets.

但是，僅兩週前，比特幣也跌至90,000美元。下降歸因於美國經濟中的宏觀經濟弱點。有一個古老的話：“任何時候美聯儲打噴嚏，市場都會感冒。”新俗話很可能是：“每當美聯儲打噴嚏時，比特幣都會感冒。”這只是一個不幸的現實 - 比特幣成為主流越多，影響傳統金融資產的宏觀經濟因素越容易受到影響。

And don't forget about Bitcoin's weakness immediately after the inauguration. The popular explanation was that investors didn't think the Trump team was doing enough to support Bitcoin and crypto. On Day 1 of the Trump presidency, investors were expecting a raft of new policy changes and initiatives related to Bitcoin. What they got, however, was a Trump meme coin launch.

就職典禮後，不要忘記比特幣的弱點。流行的解釋是，投資者認為特朗普團隊在支持比特幣和加密貨幣方面做得不夠。在特朗普總統職位的第一天，投資者期望與比特幣相關的新政策變更和計劃。但是，他們得到的是特朗普模因硬幣的發射。

So, you can see where I'm going with this. Nobody really knows why Bitcoin is falling or how much further it might fall. If you talk to bearish investors, they're convinced that Bitcoin might fall all the way to $75,000 before it recovers. As might be imagined, this lack of clarity over Bitcoin's near-term trajectory is causing a lot of people to lose their faith in crypto.

因此，您可以看到我要去哪裡。沒有人真正知道為什麼比特幣會下降，或者可能會掉多大。如果您與看跌投資者交談，他們堅信比特幣在恢復之前可能會一直跌至75,000美元。正如可能想像的那樣，對比特幣的近期軌跡缺乏明確性，導致很多人對加密貨幣失去信心。

But now is no time to panic. The long-term narrative around Bitcoin is not going away. The world's most popular cryptocurrency clearly has the support of the Trump White House. It has the growing support of billionaire hedge fund managers, who increasingly view Bitcoin as "digital gold" and a hedge against economic uncertainty. And Bitcoin now has the support of top investment firms on Wall Street, which are busy launching new investment products such as new ETFs.

但是現在沒有時間驚慌。圍繞比特幣的長期敘述並沒有消失。世界上最受歡迎的加密貨幣顯然得到了特朗普白宮的支持。它得到了億萬富翁對沖基金經理的越來越多的支持，他們越來越多地將比特幣視為“數字黃金”和對沖經濟不確定性。現在，比特幣得到了華爾街頂級投資公司的支持，華爾街正忙於推出新的投資產品，例如新ETF。

Keep in mind that Larry Fink, CEO of BlackRock (NYSE:BLK), recently came out and said Bitcoin could go to $700,000 if institutional money managers adopt a more crypto-friendly policy. He should know since his asset management firm is among the largest in the world, with $11.5 trillion in assets under management. His firm is also the creator of a phenomenally successful spot Bitcoin ETF that has pulled in more than $60 billion from investors.

請記住，貝萊德（NYSE：BLK）首席執行官拉里·芬克（Larry Fink）最近出來，並說，如果機構貨幣經理採用更友好的加密貨幣政策，則比特幣可能會賺到70萬美元。他應該知道，因為他的資產管理公司是世界上最大的資產，而管理資產為11.5萬億美元。他的公司也是一家出色成功的現貨比特幣ETF的創造者，該公司已從投資者那裡獲得了超過600億美元的收入。

If Fink is correct, Bitcoin has the potential to 7x in value, perhaps in the next couple of years. What other asset can you think of with this much upside potential? And please don't say Nvidia (NASDAQ:NVDA), because this tech darling is also down big after the surprise launch of DeepSeek. In a single day, Nvidia lost $600 billion in market value.

如果Fink正確，則比特幣有可能在未來幾年內價值7倍。您還能以如此高的潛力來想到什麼其他資產？而且，請不要說NVIDIA（NASDAQ：NVDA），因為在DeepSeek出人意料的推出之後，這位科技寵兒也很大。在一天中，NVIDIA損失了6000億美元的市場價值。

For more than a decade, retail investors have been the driving force behind Bitcoin's rise. But now, large institutional investors are taking over, and the flow of money from these investors will far surpass anything the crypto market has ever seen. Fink, for example, thinks these large investors, some of them with tens of billions of dollars to put to work, could one day dedicate as much as 5% of their portfolios to Bitcoin.

十多年來，散戶投資者一直是比特幣崛起的推動力。但是現在，大型的機構投資者正在接管，這些投資者的資金流將遠遠超過加密市場所見過的一切。例如，芬克認為這些大型投資者，其中一些投資者可以投入數億美元，有一天可以將其投資組合的5％奉獻給比特幣。

Moreover, the U.S. now plans to create a strategic Bitcoin reserve, which would likely commit the federal government to buy 1 million Bitcoins over the next five years. Twelve U.S. states also now have plans for similar Bitcoin reserves. And some sovereign nations, including Brazil, are launching plans for Bitcoin reserves of their own.

此外，美國現在計劃創建一個戰略性的比特幣儲備，這可能會在未來五年內承諾聯邦政府購買100萬比特幣。現在，美國十二個州也有類似的比特幣儲備計劃。包括巴西在內的一些主權國家正在啟動自己的比特幣儲備計劃。

That's a big reason why I'm buying the dip in Bitcoin. There's a new institutional era for Bitcoin on the horizon, with governments, banks, and large institutions ramping up their buying of Bitcoin. All that buying, obviously, should be good for the price of Bitcoin. So, don't let a short-term drop below the $100,000 level distract you from the long-term outlook for Bitcoin

這是我購買比特幣蘸醬的重要原因。比特幣將有一個新的機構時代，政府，銀行和大型機構正在加大對比特幣的購買。顯然，所有購買都應該有利於比特幣的價格。因此，不要讓短期下降到100,000美元以下