比特币（BTC）的价格下跌，但市场上的优势正在上升

5月2日达到97,900美元后，在过去三天的最后三天中，比特币（BTC）的价格下跌了4.3％。

Bitcoin (BTC) price dropped by 4.3% over the last three days after nearly touching $97,900 on May 2. Despite showing resilience at the $94,000 level on May 5, some traders are disappointed that strong institutional inflows have not been enough to sustain bullish momentum. However, several positive signs suggest that a new all-time high for Bitcoin in 2025 might still be in sight.

5月2日几乎接触97,900美元后，在过去三天中，比特币（BTC）的价格下跌了4.3％。尽管5月5日在94,000美元的水平上显示出弹性，但一些交易者对强劲的机构流入不足以维持看涨的势头感到失望。但是，一些积极的迹象表明，2025年比特币的新历史最高点可能仍在看到。

Bitcoin’s dominance over the broader cryptocurrency market surged to 70%, its highest since January 2021. This occurred despite a wave of new token launches, including several top-50 projects like SUI, Toncoin (TON), PI, Official Trump (TRUMP), Bittensor (TAO), Ethena (ENA), and Celestia (TIA). Such a high level of dominance makes riskier altcoins less appealing to new market entrants.

比特币在更广泛的加密货币市场上的主导地位飙升至70％，最高的是2021年1月。这是尽管有新的代币发射，其中包括一些前50个项目，例如Sui，Toncoin（Toncoin（Toncoin），Pi（Ton），PI（Trump），Trump（Trump），Trump（Trump），Bittensor（Tao），Ethena（Ethena），Ethena（Ena）和celestia（tia）（tia）。如此高的统治地位使风险较高的山寨币对新市场进入者的吸引力较小。

The spot Bitcoin ETFs recorded $4.5 billion in net inflows between April 22 and May 2. At the same time, the increasing appetite for Bitcoin futures signals greater institutional adoption, whether for leverage to hedge against downside risks or for bullish bets.

现货比特币ETF在4月22日至5月2日之间记录了45亿美元的净流入。与此同时，对比特币期货期货的需求日益增加，无论是用于抵抗下行风险还是对贝利什的赌注的杠杆作用。

According to CoinGlass, the total open interest in Bitcoin futures markets reached 669,090 BTC, a 21% increase since March 5. Even after Bitcoin's price crashed below $75,000 in early April, demand for leveraged positions remained strong. The open interest in BTC futures on the Chicago Mercantile Exchange (CME) alone exceeded $13.5 billion, highlighting substantial institutional demand.

根据Coinglass的数据，比特币期货市场的总开放息息率达到669,090 BTC，自3月5日以来增长了21％。即使在4月初比特币的价格跌至75,000美元以下，对杠杆头寸的需求仍然很大。仅芝加哥商业交易所（CME）对BTC期货的开放兴趣超过135亿美元，强调了实质性的需求。

Several factors explain why Bitcoin struggled to regain the $100,000 level. Traders who bought in anticipation of the US Strategic Bitcoin Reserve bill on March 6 grew increasingly frustrated as the government never disclosed its BTC holdings or announced plans for further purchases. Similarly, state-level Bitcoin bills repeatedly failed, with the latest setback occurring in the US state of Arizona.

几个因素解释了为什么比特币努力重新获得100,000美元的水平。由于政府从未透露其BTC控股公司或宣布进一步购买的计划，因此3月6日在美国战略比特币储备法案中购买的交易者越来越沮丧。同样，州一级比特币账单反复失败，最新的挫折发生在美国亚利桑那州。

Strategy doubles its plans for BTC acquisitions despite the global trade war

尽管全球贸易战

Over the last three months, gold has outperformed most assets, increasing by 16%, while Bitcoin dropped by 5% and the S&P 500 corrected by 6.5%. This finding challenges the narrative of Bitcoin as an uncorrelated asset, as the cryptocurrency repeatedly failed to decouple from the S&P 500 amid increasing economic risks. The global trade war led investors to prefer fixed-income assets and cash positions.

在过去的三个月中，黄金的表现优于大多数资产，增长了16％，而比特币下降了5％，而标准普尔500指数则纠正了6.5％。这一发现挑战了比特币作为一种不相关的资产的叙述，因为加密货币一再未能使标准普尔500指数中的经济风险增加。全球贸易战使投资者更喜欢固定收益资产和现金头寸。

Bitcoin's recent fall to $94,000 is especially noteworthy given that Strategy, a US-listed company headed by Michael Saylor, announced the acquisition of 1,895 BTC on May 5, after doubling its capital increase plan to fund further Bitcoin purchases. However, since investors were initially unsure about Strategy's ability to generate additional capital, the announcement of an $84 billion plan on May 1 has mitigated some of this risk.

鉴于该策略是由迈克尔·塞勒（Michael Saylor）领导的一家美国上市公司，比特币最近的跌至94,000美元尤其值得注意，他于5月5日宣布收购1,895 BTC，此前其资本增加计划增加了一倍，以资助进一步的比特币购买。但是，由于最初不确定策略能够产生额外资本的能力，因此5月1日发布了840亿美元的计划，已经减轻了一些风险。

For Bitcoin to attain a new all-time high, investors might need to see signs of improving US-China trade relations, as tariffs have impacted overall risk appetite. Nonetheless, the crucial elements for a BTC bull run above $100,000 appear to be in place.

为了使比特币达到历史最高的高度，投资者可能需要看到改善美中贸易关系的迹象，因为关税已经影响了整体风险胃口。尽管如此，BTC公牛运行的关键要素似乎已到位。

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

本文是出于一般信息目的，不打算被视为法律或投资建议。这里表达的观点，思想和观点是作者独自一人，不一定反映或代表Cointelegraph的观点和观点。