Grayscale推出比特幣採用者ETF（BCOR），向擁有大量BTC持有的公司提供接觸

Grayscale Investments已推出了其比特幣採用者ETF（BCOR），為擁有大量BTC持有的公司提供了股票市場，而GlassNode的分析表明，比特幣正在從其最近的更正階段過渡。

Grayscale’s latest product is the Bitcoin Adopters ETF (BCOR), an ETF that will provide equity market exposure to firms that have applied a treasury reserve strategy with substantial BTC holdings, beginning with at least 100 BTC.

Grayscale的最新產品是比特幣採用者ETF（BCOR），ETF將向已採用大量BTC持有的財政儲備戰略的公司提供股票市場的敞口，從至少100 BTC開始。

The ETF is linked to the Indxx Bitcoin Adopters Index, which includes over 33 companies from 15 sectors, all boasting market capitalizations exceeding $100 million and collectively holding over 170,000 BTC at the last reporting period.

ETF與Indxx比特幣採用者指數相關聯，其中包括來自15個行業的33多家公司，所有的市值超過1億美元，並在上一個報告期間共同持有170,000多個BTC。

These companies are engaged in varied industries, spanning technology, energy, and consumer staples, among others. The commonality among them is their integration of Bitcoin into their treasury reserves.

這些公司從事各種行業，跨越技術，能源和消費者的主食等。他們之間的共同點是將比特幣整合到財政部儲備中。

As more companies incorporate Bitcoin into their balance sheets, BCOR offers a forward-looking strategy to capture this momentum through traditional equity markets,” said David LaValle, Global Head of ETFs at Grayscale.

隨著越來越多的公司將比特幣納入資產負債表中，BCOR提供了一種前瞻性的策略，可以通過傳統的股票市場來捕捉這一勢頭。

Grayscale is venturing into a space where Bitwise has already launched its ETF focused on firms with Bitcoin on their balance sheet. However, the arrival of BCOR could further introduce Bitcoin to equity-focused investors who might not otherwise have engaged with the cryptocurrency market.

Grayscale正在冒險進入一個空間，在該空間中，Bitwise已經將其ETF推向了使用比特幣上的公司的ETF。但是，BCOR的到來可能會進一步將比特幣引入以股權為中心的投資者，這些投資者可能不會與加密貨幣市場互動。

Glassnode: BTC in Structural Reset, Not Bear Market Territory

玻璃節：結構重置中的BTC，不佔據市場領域

According to a recent analysis by Glassnode, Bitcoin’s recent drawdown should not be viewed as a full-fledged bear market but rather as a natural transition out of the recent parabolic correction phase.

根據GlassNode最近的分析，比特幣最近的縮水不應被視為成熟的熊市，而應視為從最近的拋物線校正階段出現的自然過渡。

This analysis focuses on key observations:

該分析的重點是關鍵觀察：

After a year-long consolidation in a $40k–$50k range, Bitcoin finally broke out, quickly rising above $95k. This breakout follows a period of minimal investor stress, evident in the MVRV Ratio, Percent Supply in Profit, and SOPR.

經過一年的合併為4萬美元 - $ 50K範圍，比特幣終於爆發了，迅速上漲了95,000美元以上。這一突破是在一段時間的最小投資者壓力之後，在MVRV比率，利潤百分比和SOPR中明顯看出。

Bitcoin has recently broken above both of these levels, signaling potential for renewed bullish momentum, provided the price sustains above this range.

比特幣最近在這兩個水平上都打破了，只要價格持續到該範圍以上，就可以提示新的看漲勢頭。

Moreover, metrics like the MVRV Ratio, Percent Supply in Profit, and SOPR indicate that investor stress has eased, and the majority of BTC holders are back in profit.

此外，MVRV比率，利潤百分比和SOPR等指標表明投資者的壓力已經緩解，大多數BTC持有人都重新獲得了利潤。

The MVRV recently bounced off its long-term mean (1.74), a historical support level during consolidations. A reading above 1.74 suggests that on average, investors are in profit.

MVRV最近彈起了其長期平均值（1.74），這是合併期間的歷史支持水平。以上1.74的閱讀表明，平均而言，投資者正在獲利。

Glassnode further notes that $95k–$98k poses a critical resistance zone due to the 3.618 Fibonacci extension from the 2011–2015 bear market cycle bottom.

GlassNode進一步指出，由於2011 - 2015年熊市週期底部的3.618斐波那契延伸，$ 95K至98K構成了關鍵的阻力區。

A break above this zone could pave the way for a vacuum of resistance up to 4.236 Fib, which stands at $104,935.

高於該區域的突破可能為高達4.236 FIB的阻力真空鋪平道路，為104,935美元。