比特幣（BTC）處於低於110,000美元的$ 110,000

本文是出於一般信息目的，不打算被視為法律或投資建議。

Key takeaways:

關鍵要點：

* Bitcoin (BTC) price remained below the $110,000 mark on May 26 amid macroeconomic uncertainty and Nvidia's earnings, keeping traders cautious about new all-time highs.

*比特幣（BTC）的價格在5月26日的110,000美元低於宏觀經濟的不確定性和NVIDIA的收入，使交易員對新的歷史最高高點保持謹慎。

* Stellar (XLM) price showed strength with a 3.6% rally after President Trump postponed retaliatory European Union tariffs.

*恆星（XLM）的價格在特朗普總統推遲了報復性歐盟關稅後的3.6％集會上的實力。

* Bitcoin futures premium remained in the neutral range of 5% to 10%, while institutional interest in Bitcoin continued to grow.

*比特幣期貨保費在5％至10％的中性範圍內，而對比特幣的機構權益持續增長。

Bitcoin price failed to hold above the $110,000 level on May 26, even as European stock markets responded positively to President Donald Trump postponing his planned 50% tariffs on European Union imports.

比特幣的價格未能超過5月26日的110,000美元水平，即使歐洲股市對唐納德·特朗普總統的反應積極，推遲了他計劃對歐盟進口的50％關稅。

The broader market risk appetite will now depend partly on Nvidia's (NVDA) earnings report on May 28, and anticipation for this could explain why Bitcoin is yet to set a new all-time high, despite trading just 2.6% below its record high of $111,957 on May 25.

現在，更廣泛的市場風險食慾將部分取決於5月28日的NVIDIA（NVDA）收益報告，對此的期望可以解釋為什麼比特幣在5月25日低於其111,957美元的創紀錄高度的2.6％，但在5月25日的創紀錄高度僅低2.6％。

Bitcoin options markets are hinting at a higher probability of upward movement, which suggests that whales and market makers remain confident.

比特幣期權市場暗示了向上移動的可能性更高，這表明鯨魚和做市商保持自信。

The negative 6% Bitcoin options delta skew indicates that put (sell) options are trading at a discount, a typical characteristic of bullish markets. Readings closer to zero reflect a more balanced demand between put and call (buy) options, a trend which was observed on May 25.

負6％比特幣選項Delta偏斜表明PUT（賣出）期權以折扣價進行交易，這是看漲市場的典型特徵。接近零的讀數反映了Put和Call（買入）選項之間的更平衡的需求，這一趨勢於5月25日觀察到。

It’s likely that the persistent institutional demand for Bitcoin is gradually shifting the risk perception among the world’s largest investment firms. Michael Saylor’s firm, Strategy, purchased $427 million worth of Bitcoin between May 19 and May 25, at an average price of $106,237. Meanwhile, spot Bitcoin exchange-traded funds (ETFs) saw another $2.75 billion in inflows during the same period.

對比特幣的持續機構需求可能正在逐漸改變世界上最大的投資公司的風險感知。邁克爾·賽勒（Michael Saylor）的公司戰略在5月19日至5月25日之間以106,237美元的價格購買了價值4.27億美元的比特幣。同時，在同一時期，現貨比特幣交易所交易基金（ETF）的流入量為27.5億美元。

During JPMorgan’s Annual Investor Day on May 19, CEO Jamie Dimon announced that the bank would finally allow clients to purchase spot Bitcoin ETFs. While the move does not include custody or official recommendations of cryptocurrencies, it opens the door to indirect Bitcoin exposure for the bank’s $6 trillion in customer deposits.

在摩根大通（JPMorgan）5月19日的年度投資者日期間，首席執行官傑米·戴蒙（Jamie Dimon）宣布，該銀行最終將允許客戶購買現貨比特幣ETF。雖然此舉不包括保密貨幣的監護權或正式建議，但它為該銀行的6萬億美元客戶存款打開了大門。

Related: Bitcoin’s new highs may have been driven by Japan bond market crisis

相關：比特幣的新高點可能是由日本債券市場危機驅動的

US markets are closed on May 26 in observance of the Memorial Day holiday. As a result, any optimism stemming from the delayed US–EU tariffs may be tempered by ongoing concerns surrounding US government debt and the threat of a potential economic recession. The recent 5.1% drop in MBA Mortgage Applications for the week ending May 23 prompted traders to adopt a more cautious stance.

美國市場將於5月26日在紀念日假期關閉。結果，由於對美國政府債務的持續擔憂以及潛在的經濟衰退的威脅，因此延遲的美國 - 歐盟關稅引起的任何樂觀態度可能會緩解。截至5月23日的本週，最近在MBA抵押申請中下降了5.1％，促使交易者採取更加謹慎的立場。

While Bitcoin derivatives metrics remain healthy, upcoming economic data will be critical for market sentiment. Investors are closely watching the Richmond Fed manufacturing index due on May 28, followed by the PCE inflation data on May 30. These indicators will likely influence risk appetite and the chances of Bitcoin breaking above the $112,000 mark in the short term.

儘管比特幣衍生品指標保持健康，但即將到來的經濟數據對於市場情緒至關重要。投資者正在密切關注5月28日的里士滿美聯儲製造指數，其次是5月30日的PCE通貨膨脹數據。這些指標可能會影響風險的胃口，並且在短期內將比特幣破裂的機會超過了112,000美元。