分析師認為，由風險食慾而不是避風港需求驅動的比特幣集會

在對主流媒體報導的鮮明批評中，一位市場評論員呼籲CNBC將比特幣的突破超過100,000美元歸因於尋求庇護的投資者

In a pointed critique of mainstream financial media coverage, one market commentator has taken aim at CNBC for attributing Bitcoin's breakout above $100,000 to investors seeking refuge during uncertain times.

在對主流財務媒體報導的明確批評中，一位市場評論員旨在將CNBC歸因於比特幣的突破超過100,000美元，這是在不確定時期尋求避難所的投資者。

According to Ben Armstrong, host of the "Crypto хард кидал в Изюм", the surge was actually fueled by risk-on sentiment, with investors rotating out of traditional safe havens like the S&P 500 and into more speculative assets like BTC.

根據“ Crypto late” Ambstrong的說法，“Cryptoхрдкидалв刑”的主持人實際上是由風險的情緒助長的，投資者從S＆P 500等傳統的安全避風港中旋轉，並轉向了更具投機性的資產。

The distinction is critical: while the “digital gold” narrative remains a popular framework, recent market behavior suggests Bitcoin may still be viewed as a high-risk, high-reward asset — particularly appealing in bullish conditions. As capital flows shift in search of higher returns, Bitcoin's rise could reflect a broader appetite for risk, rather than a defensive strategy against macro uncertainty.

區別至關重要：雖然“數字黃金”的敘述仍然是一個流行的框架，但最近的市場行為表明比特幣仍被視為高風險，高回報的資產，在看漲條件下特別有吸引力。隨著資本流動以尋求更高回報的轉變，比特幣的崛起可能反映出對風險的更廣泛的興趣，而不是防禦性不確定性的防禦策略。

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Bitcoin Could Be Leading Global Monetary Trends, Says Analyst

分析師說，比特幣可能是領先的全球貨幣趨勢。

The analyst is referring to a recent CNBC report which attributed Bitcoin's rally to investors seeking safety during a time of geopolitical turmoil, rising inflation, and market volatility. However, Armstrong argues that this analysis is fundamentally flawed.

分析師指的是最近的CNBC報告，該報告將比特幣的集會歸因於在地緣政治動盪，通貨膨脹率上升和市場波動時尋求安全的投資者。但是，阿姆斯特朗認為，這種分析從根本上存在缺陷。

According to Armstrong, Bitcoin's surge is more likely linked to the broader rotation of capital out of traditional asset classes, such as the S&P 500, and into cryptocurrencies. This shift is being driven by investors seeking higher returns in a low-yield environment.

根據阿姆斯特朗（Armstrong）的說法，比特幣的激增更有可能與傳統資產類別（例如標準普爾500指數）以及加密貨幣的更廣泛的資本旋轉有關。這種轉變是由在低收益環境中尋求更高回報的投資者驅動的。

"They are pulling out of the S&P, they are pulling out of the stock market, they are pulling out of the bond market, they are pulling out of real estate. Where is the money going? It’s going into crypto," Armstrong stated.

阿姆斯特朗說：“他們正在退出標準普爾，他們正在退出股票市場，正在退出債券市場，他們從房地產中退出。

His skepticism toward the cryptocurrency has been consistent for over a decade, earning him a reputation as one of Bitcoin’s most vocal detractors in traditional finance circles. Here are some notable examples of his past negative comments:

十多年來，他對加密貨幣的懷疑一直是一致的，在傳統金融圈子中，他贏得了比特幣最具聲音批評者之一的聲譽。以下是他過去負面評論的一些值得注意的例子：

1. Bitcoin is “Fool’s Gold”

1。比特幣是“傻瓜的黃金”

Schiff has repeatedly argued that Bitcoin has no intrinsic value and likened it to “fool’s gold.” He insists that unlike gold — which has industrial uses and a history as a store of value — Bitcoin is purely speculative and destined to fail in the long run.

席夫（Schiff）反复爭辯說，比特幣沒有內在的價值，並將其比作“傻瓜的黃金”。他堅持認為，與具有工業用途和歷史作為價值存儲的黃金不同，比特幣純粹是投機性的，從長遠來看注定要失敗。

2. “Bitcoin Will Go to Zero”

2。 “比特幣將達到零”

On several occasions, Schiff has predicted that Bitcoin’s value would eventually collapse to zero. For example, in interviews and tweets from 2017–2020, he dismissed BTC rallies as bubbles and said that holders would be left with nothing once the hype faded.

席夫（Schiff）有時預測比特幣的價值最終會崩潰至零。例如，在2017 - 2020年的訪談和推文中，他將BTC集會視為泡沫，並說一旦炒作消失，持有人將一無所有。

3. Criticism During Bull Runs

3。牛跑期間的批評

Even during major bull markets, Schiff has maintained his bearish stance. In 2020 and early 2021, while Bitcoin surged to new all-time highs, Schiff warned investors it was a “sucker’s rally” and advised them to sell before the inevitable crash.

即使在主要的公牛市場上，席夫也保持了看跌的立場。在2020年和2021年初，比特幣飆升至新的歷史新高時，Schiff警告投資者，這是“吸盤的集會”，並建議他們在不可避免的崩潰之前出售。

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Gold Outpaces S&P 500 as Uncertainty Fuels Flight to SafetyArmstrong's comments come at a time when Bitcoin has been making headlines for its rapid price gains. The world's leading cryptocurrency recently surged to new all-time highs of over $103,000, before encountering resistance and pulling back slightly.

當不確定性燃料飛往SafetyArmstrong的評論時，黃金超過了S＆P 500。全球領先的加密貨幣最近在遇到阻力並稍微向後拉後的新歷史高度超過103,000美元。

As the crypto market continues to evolve and macroeconomic trends unfold, it will be interesting to see how this narrative develops further and what insights other market analysts provide.

隨著加密市場的不斷發展和宏觀經濟趨勢的發展，有趣的是，看到這種敘事如何進一步發展以及其他市場分析師提供的見解。