宏觀張力和機構支持燃料比特幣的反彈

比特幣的複興高於$ 95K，在全球不確定的宏觀經濟環境中。關稅戰爭，地緣政治緊張局勢的上升以及通貨膨脹的憂慮使人們對老式金融市場產生了恐懼和不穩定的影響。

Since Donald Trump became president, Bitcoin (BTC) has had a series of ups and downs, with the price falling more than 28% from the all-time high of $106K to around $75K.

自唐納德·特朗普（Donald Trump）成為總統以來，比特幣（BTC）的起伏不已，價格從歷史最高售價106,000美元到7.5萬美元左右下降了28％以上。

However, it has now rebounded quite remarkably, and some folks (like this author) who are Bitcoin bulls and believe in the digital asset’s potential are hopeful and even somewhat confident about the big breakout to $94K and beyond. This was an unexpected breakout event for the digital asset, and it’s happening at a time when the world is more divided and in synergy than ever.

但是，現在它已經反彈了，有些人（如作者）是比特幣公牛，並且相信數字資產的潛力充滿希望，甚至對大型突破到9.4K及以後的大爆發充滿信心。對於數字資產來說，這是一個意想不到的突破事件，並且在世界比以往任何時候都更加分裂和協同作用的時候發生。

As for the level of greed being measured across social media, this is the highest spike yet, and it’s largely driven by retail traders’ optimism. The last time we saw greed reach this level of intensity was back in December 2024, when Bitcoin’s price dropped from the highs.

至於在社交媒體之間衡量的貪婪水平，這是迄今為止最高的尖峰，並且在很大程度上是由零售商人樂觀的驅動。我們上次看到貪婪達到了這種強度水平，回到了2024年12月，當時比特幣的價格從高點下降。

Rising Macro Tensions and Institutional Support Fuel Bitcoin’s Rebound

宏觀張力和機構支持燃料比特幣的反彈

Bitcoin’s resurgence above $95K comes amid a globally uncertain macroeconomic environment. Tariffs, geopolitical tensions, and inflation worries have induced fear and instability in old-school financial markets. This atmosphere has often been very good for Bitcoin, presumed by many to be a “safe-haven” asset during times of unease. Gold has long held that same mantle, but Bitcoin is now clearly in the conversation. And if things keep going the way they have been, the conversation might get a lot louder.

在全球不確定的宏觀經濟環境中，比特幣的複興超過$ 95K。關稅，地緣政治緊張局勢和通貨膨脹的憂慮引起了老式金融市場的恐懼和不穩定。這種氣氛通常對比特幣非常有利，在不安時，許多人推測許多人是“避風港”的資產。黃金長期以來一直保持著同樣的地幔，但比特幣現在顯然在談話中。而且，如果事情一直以來，對話可能會越來越大。

It is not only the state of the macroeconomy that has brought Bitcoin back. The recovery has, in large part, been driven by a huge uptick in institutional interest in the cryptocurrency. Heavyweights such as BlackRock have continued to shove force into Bitcoin and the crypto space writ large. Their recent participation in the recovery, along with the much-wanted movement toward institutional adoption of Bitcoin ETFs, has added a level of street cred and stability to the market that had been largely absent.

宏觀經濟的狀態不僅使比特幣恢復了。在很大程度上，復甦是由於加密貨幣的機構利益的巨大提升所驅動的。諸如貝萊德（Blackrock）之類的重量級人物繼續將力推入比特幣，而加密貨幣空間則大。他們最近參與了恢復，以及對比特幣ETF機構採用的備受矚目的運動，為市場上增加了一定程度的街頭信譽和穩定性，這在很大程度上沒有。

U.S. spot Bitcoin ETFs attracted an enormous $380 million in net inflows for the week ending April 25, 2025, marking the highest weekly net inflows since the week before Trump’s inauguration in mid-January. This trend is signaling something very positive for Bitcoin. It suggests that the interest in Bitcoin as a legitimate financial asset is going mainstream, especially among the kinds of large institutional players who presumably also have a lot of influence over retail investor sentiment.

美國現貨比特幣ETF吸引了截至2025年4月25日的一周的近3.8億美元淨流入，這是自特朗普在1月中旬就職典禮前一周以來每週最高的淨流入。這種趨勢是表明比特幣非常積極的東西。它表明，對比特幣作為合法金融資產的興趣正在成為主流，尤其是在大概對零售投資者情緒也很大影響的大型機構參與者中。

By the end of April 25, U.S. spot Bitcoin ETFs had seen six days of net inflows, while spot Ethereum ETFs saw a total net inflow of $104 million, and there were no net outflows across all nine ETFs.

到4月25日底，美國現貨比特幣ETF已經看到了六天的淨流入，而現貨以太坊ETF的總淨流入量為1.04億美元，並且所有9個ETF的淨流出都沒有。

The Crowd’s Growing Optimism and Rising Greed

人群的樂觀和貪婪日益增加

When Bitcoin soared over the $95,000 mark, there was a marked increase in the overall optimism of the crypto community. While the price of Bitcoin never dipped below $88,000 from November 20 to December 31, 2024, the sentiment surrounding crypto in general had many people thinking that any chance of a near-term price recovery was DOA (dead on arrival). On Christmas Day, Bitcoin’s price was at $91,550. Then it climbed to $95,000 on April 24.

當比特幣飆升超過95,000美元時，加密社區的整體樂觀態度顯著增加。從11月20日至2024年12月31日，比特幣的價格從未降到88,000美元以下，但圍繞加密貨幣的情緒總體上有很多人認為任何接近價格恢復的機會都是DOA（抵達時死亡）。在聖誕節那天，比特幣的價格為91,550美元。然後在4月24日攀升至95,000美元。

Despite the growing optimism about the market, some analysts have raised concerns that this could simply be a sign of an incipient top, with excessive greed and hubris fueling the latest rally. For the Bitcoin price to keep going up, we need to see a sufficient base of retail investors buying into the leading cryptocurrency.

儘管對市場的樂觀越來越樂觀，但一些分析師引起了人們的擔憂，即這可能只是初期頂級的跡象，過度貪婪和傲慢助長了最新的集會。為了使比特幣的價格不斷上漲，我們需要看到足夠的散戶投資者購買的基礎。

If too many traders try to take profits, it creates an opportunity for the institutional investors and whales who have been buying up the lower dips in Bitcoin to push the price up even further.

如果太多的交易者試圖獲利，它將為已經購買比特幣較低傾銷的機構投資者和鯨魚創造機會，以進一步提高價格。

The crowd’s sentiment is crucial in deciding whether Bitcoin can carry on with its present momentum or must soon retrace its steps. If the market gets too greedy and retail traders rush to take profits, we may see a temporary pullback in Bitcoin’s price. On the other hand, if the market remains patient and controlled greed is the order of the day, we could see Bitcoin push further into the uncharted territory of prices it has not seen before. In either case, sentiment is of the utmost importance.

人群的情緒對於決定比特幣是否可以以目前的勢頭繼續或必須很快追溯其步驟至關重要。如果市場變得太貪婪，零售商人急於獲利，我們可能會看到比特幣價格的暫時回調。另一方面，如果市場保持耐心並且受控的貪婪是一天的順序，我們可以看到比特幣進一步推向了以前從未見過的價格的未知領域。無論哪種情況，情感都是最重要的。

Bitcoin’s Future Outlook: Will $100K Be Within Reach?

比特幣的未來前景：$ 100K可以觸及嗎？

With Bitcoin approaching $95K, the question on many investors’ minds is whether the cryptocurrency can keep up its current trajectory and finally break through the $100K barrier. The road to $100K may not be without its bumps, but the combination of strong institutional support, an increasingly worrisome macroeconomic picture, and a steadily rising tide of retail and institutional investors gives Bitcoin a solid foundation to continue its upward

隨著比特幣接近95,000美元，許多投資者的想法是加密貨幣是否可以保持其當前的軌跡並最終突破10萬美元的障礙。達到10萬美元的道路可能不會沒有顛簸，但是強大的機構支持，越來越令人擔憂的宏觀經濟形像以及零售和機構投資者穩步上升的潮流的結合，為比特幣提供了堅實的基礎，以繼續其上升