比特幣和黃金與股票的解耦：BTC是否成為避風港資產？

比特幣和黃金一直在攀登，而傳統股票則絆倒。這個意外的分裂讓人問一個大問題：比特幣終於

Bitcoin has been showing some interesting strength in recent months as major U.S. stock indexes stumble.

隨著美國主要股票指數絆倒，比特幣在最近幾個月表現出一些有趣的實力。

What Happened: As reported by Benzinga earlier, gold prices hit a record high of $3,400 an ounce on April 21. Usually, this indicates that investors are skittish.

發生的事情是：正如Benzinga早些時候報導的那樣，黃金價格在4月21日每盎司3,400美元的創紀錄高點。通常，這表明投資者很不滿意。

At the same time, Bitcoin's price jumped around 7 percent on April 22, while major stock indexes and the U.S. dollar looked wobbly.

同時，比特幣的價格在4月22日上漲了7％，而主要股票指數和美元看上去搖搖欲墜。

Bitcoin is often treated as a high-risk asset, but lately, it has started to look a little more like gold's rebellious cousin.

比特幣通常被視為高風險資產，但最近，它看起來更像是黃金的叛逆堂兄。

This shift has not escaped the attention of big players. BlackRock (NYSE:BLK), the world's largest asset manager, is seeing Bitcoin act differently from traditional assets.

這種轉變並沒有消除大型球員的注意。貝萊德（NYSE：BLK）是世界上最大的資產經理，看到比特幣的行為與傳統資產不同。

"It's becoming less correlated, and I think that's a response to the massive global uncertainty that we're seeing, whether it's political or economic," said Jay Jacobs, BlackRock's U.S. Head of Equity ETFs.

萊克羅克（BlackRock）美國股本ETF的負責人傑伊·雅各布斯（Jay Jacobs）表示：“這變得越來越不相關，我認為這是對我們看到的大規模全球不確定性的回應，無論是政治還是經濟。”

In essence, as the world feels like it's splitting at the seams, Bitcoin might be devising its survival strategy.

從本質上講，由於世界感覺就像在接縫處分裂，比特幣可能正在設計其生存策略。

And when BlackRock starts talking about Bitcoin like this, you can bet the rest of Wall Street is paying attention.

當貝萊德開始談論這樣的比特幣時，您可以敢打賭，華爾街的其餘部分都在關注。

What Analysts Are Saying: Some analysts say the recent moves could just be a short-term blip. They argue that Bitcoin is still closely tied to risk assets like tech stocks and that liquidity surges and geopolitical jitters might temporarily skew the usual patterns.

分析師說的是：一些分析師說，最近的舉動可能只是短期的局面。他們認為，比特幣仍然與像技術股票這樣的風險資產緊密相關，流動性的激增和地緣政治煩惱可能會暫時偏向通常的模式。

In other words, Bitcoin might still be a teenager trying on different identities before settling down.

換句話說，比特幣可能仍然是一個在安頓下來之前嘗試不同身份的青少年。

"Decoupling of Bitcoin from equities and shedding its reputation as a leveraged NASDAQ proxy would be much more bullish for the long-term thesis than continuing to act as a high beta growth stock," one user noted on X.

一位用戶在X上指出：“將比特幣與股票脫鉤，並剝奪其作為槓桿的納斯達克代理人的聲譽比長期論文比繼續充當高beta增長股票要比持續的股票更樂觀。”

Others are a little more optimistic. They suggest that the longer Bitcoin shows strength while stocks fall, the more serious the case becomes that Bitcoin is growing into a true alternative asset.

其他人更加樂觀。他們認為，比特幣在股票下降時顯示出強度，比特幣越嚴重成為真正的替代資產。

The rally in Bitcoin and gold, against a backdrop of falling stocks, has sparked new debate about where Bitcoin fits in the global financial system.

在股票下降的背景下，比特幣和黃金的集會引發了有關比特幣在全球金融體系中適用的新辯論。

Some believe we are watching Bitcoin finally mature into a safe-haven asset. Others say we should not pop the champagne without seeing consistent proof.

有些人認為，我們最終觀看比特幣成熟的資產。其他人則說，我們不應該在沒有看到一致的證據的情況下彈出香檳。

Either way, one thing is clear: Bitcoin is no longer moving in lockstep with stocks. Whether this is just a phase or the start of a bigger shift is the story investors everywhere will be watching closely.

無論哪種方式，一件事都是清楚的：比特幣不再用股票移動。無論這只是一個階段還是更大的轉變的開始都是各地的故事投資者都將密切關注。