在飆升了107,000美元，達到了四個月的高點，並消耗了超過6億美元的加密衍生品職位

在飆升至107,000美元到四個月的高點並消耗了超過6億美元的加密衍生品職位之後，比特幣迅速下降到約103,000美元。

Bitcoin quickly dropped to about $103,000 on Monday after surging past $107,000 to a four-month high and wiping out more than $600 million in crypto derivatives positions.

比特幣在周一飆升了107,000美元，至4個月的高點，並消耗了超過6億美元的加密衍生品職位後，比特幣迅速降至約103,000美元。

The token hit its highest level since late January early on Monday, just short of breaking its all-time high of $109,228. Despite gyrating wildly on Monday, Bitcoin has now stabilized at around $105,000.

該令牌達到了自1月初以來的最高水平，僅僅打破了其歷史最高點109,228美元。儘管週一狂奔，但比特幣現在穩定在105,000美元左右。

Bitcoin's price surged over $2,500 in less than an hour during late Sunday trading, driven by algorithmic buying at critical technical levels and very low weekend liquidity. It looks like the surge set off the traditional short squeeze, which is when sellers quickly book profits or try to avoid losses.

比特幣的價格在周日晚些時候的交易中不到一個小時的時間內飆升了2500美元，這是由於算法以關鍵的技術水平和非常低的周末流動性而驅動的。似乎激增引起了傳統的短擠壓，這是賣方快速預訂利潤或試圖避免損失的時候。

Macro Shifts & Wider Adoption Into Mainstream Boost Bitcoin

宏觀變化並更廣泛地採用到主流的提升比特幣

Thanks to rising hopes that the world's two biggest economies will be able to resolve their trade spat, Bitcoin's value has increased by nearly 11% so far this month. Several other drivers also contributed to this increase.

由於人們希望世界上兩個最大的經濟體能夠解決其貿易爭吵，因此本月到目前為止，比特幣的價值增長了近11％。其他幾個駕駛員也為這一增加做出了貢獻。

Investors remained wary of a tariff-induced acceleration in inflation, even if last week's muted US inflation prints strengthened prospects of a Federal Reserve rate cut this year. Bitcoin and other alternative assets become more appealing when the US currency weakens due to lower inflation and the possibility of lowered interest rates.

即使上週的通貨膨脹印刷加強了今年的美聯儲降低的前景，投資者仍然對關稅引起的通貨膨脹加速的加速保持警惕。當由於通貨膨脹率降低以及利率降低的可能性削弱時，比特幣和其他替代資產變得更具吸引力。

Investments by large institutions have also been crucial; for example, Strategy bought 13,390 BTC for $1.34 billion, demonstrating the increasing interest of corporations in Bitcoin as a serious strategic asset.

大型機構的投資也至關重要。例如，戰略以13.4億美元的價格購買了13,390 BTC，這表明公司對比特幣的興趣不斷增加，這是一項嚴肅的戰略資產。

Investors are looking for new ways to store their wealth due to macroeconomic risks, such as Moody's decision to reduce the US national credit rating.

由於宏觀經濟風險，投資者正在尋找存儲財富的新方法，例如穆迪決定降低美國國家信用評級。

“A head-scratching metric has dominated crypto discussions this week: retail investors are net sellers of BTC in 2025, while institutions are scooping it up,” said Ira Auerbach, head of Tandem at Offchain Labs, the team behind Arbitrum.

“本週的一個抓斗指標主導了加密貨幣討論：散戶投資者是2025年的BTC的淨賣方，而機構正在將其sc起，” OffChain Labs的Tandem負責人Ira Auerbach說，The Notum背後的團隊。

“For veterans of this space, this reversal is truly odd and potentially lays the groundwork for a new era of bullish Bitcoin price action,” Auerbach added.

奧爾巴赫補充說：“對於這個空間的退伍軍人來說，這種逆轉確實是奇怪的，並且有可能為看漲比特幣價格行動的新時代奠定了基礎。”

Recent advances in Bitcoin's value have been fueled by a confluence of factors, including geopolitical changes, institutional acceptance, and the belief that it can protect against economic volatility.

比特幣價值的最新進展是由多種因素匯合而推動的，包括地緣政治變化，機構接受以及它可以防止經濟波動的信念。

The cryptocurrency offerings of major exchanges were also growing. Coinbase Global was the first company involved with digital assets to be included in the S&P 500 index.

主要交易所的加密貨幣產品也在增長。 Coinbase Global是第一家與數字資產有關的公司，該公司已包含在標準普爾500指數中。

On Friday, the Nasdaq saw the debut of Mike Novogratz's Galaxy Digital, concluding a significant week for the public markets in the cryptocurrency sector. Retail brokerage eToro has also made its public debut.

週五，納斯達克（Nasdaq）在邁克·諾沃格茨（Mike Novogratz）的Galaxy Digital首次亮相，為加密貨幣領域的公共市場結束了一個重要的一周。零售經紀人Etoro也在公開亮相。

On Monday, Bitcoin ETFs experienced a surge in activity, absorbing $667 million in inflows, marking its largest daily inflow figure in weeks. Ethereum ETFs also saw positive movement, with $14 million in inflows.

週一，比特幣ETF經歷了活動的激增，吸收了6.67億美元的流入，標誌著其數週內最大的每日流入數字。以太坊ETF也看到了積極的運動，流入了1400萬美元。

“We view the recent strength in the price of ether as being driven more by organic demand than institutional flows—a potential sign of rising retail activity and decoupling performance between bitcoin and altcoins,” BRN analyst Valentin Fournier stated in a note.

BRN分析師Valentin Fournier在一份註釋中說：“我們認為，最近的Ether價格的優勢比機構流動更多地是由有機需求驅動的，這是零售活動不斷上漲和比特幣與替代幣之間的潛在跡象。”

Elsewhere

別處

Singapore's Bitcoin Candidate Jeremy Tan on Disrupting Politics & Finance

新加坡的比特幣候選人傑里米·譚（Jeremy Tan）破壞政治與金融

This week we have a special guest, Jeremy Tan, the independent candidate for Mountbatten SMC who garnered a surprising 36% of the vote in Singapore's general election by centering his campaign on, among other things, Bitcoin adoption. Jeremy discusses his motivations for bringing Bitcoin into the political arena, highlighting the need for Singapore to consider it as a hedge against US dollar instability, and addresses the Monetary Authority of Singapore's (MAS) cautious stance on crypto, suggesting a disconnect between the official narrative and behind-the-scenes activity.

本週，我們有一個特別的嘉賓傑里米·譚（Jeremy Tan），他是蒙巴頓SMC的獨立候選人，他在新加坡的大選中獲得了驚人的36％的選票，將其競選活動以比特幣的採用為中心。傑里米（Jeremy）討論了他將比特幣帶入政治舞台的動機，強調了新加坡需要將其視為對美元不穩定的樹籬，並解決了新加坡（MAS）對加密貨幣的謹慎立場，暗示了官方敘述和背後的活動之間的脫節。

Blockcast is hosted by Head of APAC at Ledger, Takatoshi Shibayama. Previous episodes of Blockcast can be found here, with guests like Alex Ryvkin (Rho), Hassan Ahmed (Coinbase), Sota Watanabe (Startale), Nic Young (Oh), Jacob Phillips (Lombard), Chris Yu (SignalPlus), Kathy Zhu (Mezo), Jess Zeng (Mantle), Samar Sen (Talos), Jason Choi (Tangent), Lasanka Perera (Independent Reserve), Mark Rydon (Aethir), Luca Prosperi (M^0), Charles Hoskinson (Cardano), and Yat Siu (Animoca Brands) on recent shows.

Blockcast由Apac的主管在高田shibayama的Ledger主持。以前的封播集可以在此處找到，例如Alex Ryvkin（Rho），Hassan Ahmed（Coinbase），Sota Watanabe（Startale）（Startale），Nic Young（OH），Jacob Phillips（Lombard）（Lombard），Chris Yu（Chris Yu（signalPlus），Kathy Zhu（Mezo），Jesh Zeng（Mezo），Jase Zeng（Mezo）（Meze），Jase Zenle（Merjes），Samar，Samar，Samar，Samar，Samar） （切線），拉桑卡·佩雷拉（Lasanka Perera）（獨立儲備），馬克·瑞登（Mark Rydon），盧卡·普羅斯普（Luca Prosperi）（M^0），查爾斯·霍斯金森（Charles Hoskinson（Cardano）和Yat Siu（Animoca Brands）在最近的節目中。