隨著風險的情感回報，比特幣（BTC）接近歷史新高

世界上最受歡迎的加密幣比特幣（BTC）正在近歷史新高。雖然不久前，比特幣是用便士來衡量的，但如今，它的價值數万美元。

The world’s most popular crypto, Bitcoin (BTC), is nearing new all-time highs as recent days saw the cryptocurrency hover around $104,000, nearing its top in January, when it hit $106,000.

隨著最近幾天，加密貨幣懸停在104,000美元左右，一月份達到106,000美元，這是世界上最受歡迎的加密貨幣（BTC），即將懸停在104,000美元左右，即將接近其最高點。

For perspective, not that long ago, Bitcoin was measured in pennies. Today, it is valued in tens of thousands of dollars.

從角度來看，不久前，比特幣是在便士中衡量的。如今，它的價值數万美元。

So why the big move when Bitcoin was in the mid-80s just a month ago?

那麼，為什麼一個月前比特幣在80年代中期進行的重大舉措呢？

Matteo Greco, Senior Associate & Research Analyst at Finequia, says it is because of the return to risk-on sentiment.

Finequia的高級副和研究分析師Matteo Greco表示，這是因為重返風險情緒。

Greco reports that around $600 million in net inflows moved into spot BTC ETFs in the past week—the fourth week in a row that money was moving into Bitcoin instead of out. Total net inflows now top $41 billion.

Greco報導說，過去一周，大約有6億美元的淨流入進入了BTC ETF，這是連續第四周，金錢正在投入比特幣而不是淘汰。總淨流入目前最高410億美元。

This was also buttressed by easing geopolitical and economic worries. As the UK and US announced a trade deal, followed by a 90-day pause regarding China tariffs (still keeping the 10%), markets breathed a sigh of relief—at least for the moment.

這也是通過緩解地緣政治和經濟擔憂來支撐的。當英國和美國宣布達成一項貿易協議時，隨後在中國的關稅（仍保持10％）的90天停頓時，市場呼吸了一口氣，至少目前暫時享受。

Meanwhile, the US labour market remains resilient, prompting the Federal Reserve to hold interest rates steady in its latest meeting. The Fed shared that a reduction in Quantitative Tightening (QT) is not currently being considered, due to “strong economic data as the reason for maintaining its policy stance.”

同時，美國勞動力市場仍然有彈性，促使美聯儲在其最新會議上保持利率穩定。美聯儲分享說，由於“強大的經濟數據是維持其政策立場的原因，因此目前尚未考慮減少定量收緊（QT）。”

“This shift in expectations is largely due to the combination of positive developments in US-China trade talks, continued labor market strength, and stable inflation readings. Together, these factors point to an economy that may be able to sustain higher interest rates without faltering,” said Greco. “Earlier projections assumed that rising inflation, driven by Trump’s anticipated tariff increases, would force the Fed into action. However, the recent diplomatic progress with China has dampened inflation expectations, reducing the urgency for policy easing and alleviating fears of a full-blown commercial war.”

格雷科說：“期望的這種轉變很大程度上是由於美國 - 中國貿易談判，持續的勞動力市場實力和穩定通貨膨脹式閱讀的積極發展的結合。這些因素共同指出了一種經濟，可能能夠在不動搖的情況下維持更高的利率，”格雷科說。 “較早的預測假設，由於特朗普預期的關稅增加，通貨膨脹率上升將迫使美聯儲采取行動。但是，最近與中國的外交進展減弱了通貨膨脹的預期，從而減少了對政策緩解的緊迫性，並減輕了對一場全面吹牛商業戰爭的擔憂。”

Fears of stagflation, receding, fears of rising unemployment, and higher prices have also lessened fears.

對停滯，退縮，對失業率上升的恐懼以及更高價格的恐懼也減輕了恐懼。

While Greco does not mention this, traditional markets have been on the rise, too, making people feel wealthier and encouraging money on the sidelines to be put to work, perhaps in crypto.

儘管Greco並未提及這一點，但傳統市場也在上升，使人們感到更富有，並鼓勵在場外投入工作，也許是在加密貨幣中。

So, how high can Bitcoin go? Will it go to the moon? Will it move from hundreds of thousands to millions of dollars? Heck, Michael Saylor, CEO of Bitcoin proxy firm Microstrategy, thinks Bitcoin will hit $13 million by 2045.

那麼，比特幣可以多高？它會去月球嗎？它會從數十萬美元轉移到數百萬美元嗎？比特幣代理公司Microstrategy首席執行官Michael Saylor認為比特幣將在2045年達到1300萬美元。

Some predict it can move into seven digits as soon as this year. Others are not as bullish, expecting it to take a bit longer. However, most sentiment is that Bitcoin will continue to move higher, just not in a straight line.

有些人預測，今年它可能會進入七位數字。其他人並不像看漲，期望它需要更長的時間。但是，大多數情緒是比特幣將繼續移動更高，只是直線不直線。