比特幣可能正在進入自2020年以來最看漲的階段 - 這就是為什麼

根據天鵝的市場見解，當前的環境可能是自2020年以來比特幣最看漲的設置。

Bitcoin (BTC) may be entering its most bullish phase since 2020, according to market insights from Swan.

根據Swan的市場見解，比特幣（BTC）可能正在進入自2020年以來最看漲的階段。

As the cryptocurrency market continues to heat up, a recent analysis by Swan reveals that the current environment could be setting up for the most bullish setup for Bitcoin since the 2020 bull market.

隨著加密貨幣市場的繼續升溫，天鵝最近的一項分析表明，自2020年牛市以來，當前的環境可能正在為比特幣的最看漲設置設置。

A combination of cooling gold prices, rising global liquidity, and increasing macro uncertainty seems to be paving the way for a major move by the flagship cryptocurrency.

冷卻黃金價格，全球流動性上漲和宏觀不確定性增加的結合似乎為旗艦加密貨幣的重大行動鋪平了道路。

While gold, the traditional safe haven asset, experienced a 3% decline this week, Bitcoin quietly rose by approximately 4%. Swan points out that in the past, such patterns in the same time frame—like BTC’s ascent from $70K to $108K—have followed a similar type of divergence.

傳統的避風港資產黃金本週下降了3％，但比特幣悄悄上升了約4％。天鵝指出，過去，這種模式在同一時間範圍內（例如BTC的上升從70k美元上升到108K $ 108K）都遵循類似類型的發散類型。

Furthermore, global liquidity, measured by the M2 money supply, is increasing for the first time since 2021. As Swan highlights, every major Bitcoin bull market has been accompanied by expanding money supply, leading to softening financial conditions and declining trust in fiat currency—conditions that are now resurfacing.

此外，以M2貨幣供應衡量的全球流動性自2021年以來首次增加。正如天鵝的亮點一樣，每個主要的比特幣牛市都伴隨著貨幣供應的擴大，導致財務狀況的軟化和對法定貨幣的信任下降 - 現在正在重新鋪設的條件。

"The last time we saw this level of VIX volatility was in March 2020, at the onset of the coronavirus pandemic," adds Swan.

天鵝補充說：“我們上次看到這種VIX波動率是在2020年3月，在冠狀病毒大流行病開始時。”

However, despite the VIX index stabilizing, the underlying uncertainty persists. Bitcoin typically flourishes in such environments due to its certainty, neutrality, and immunity to systemic risk.

但是，儘管VIX指數穩定，但潛在的不確定性仍然存在。由於比特幣的確定性，中立性和對系統性風險的免疫力，比特幣通常會在這種環境中蓬勃發展。

Together, these signals suggest that Bitcoin may be on the verge of another major rally, with Swan analysts hinting at a potentially explosive move in the months ahead.

總之，這些信號表明比特幣可能處於另一個主要集會的邊緣，天鵝分析師暗示了未來幾個月的潛在爆炸性動作。