比特币（BTC）的价格达到了新历史最高高于$ 109,000，这是向机构采用的信号转变

比特币的迅速崛起继续了本周不可阻挡的轨迹，全球最大的加密货币在109,400美元以上达到了新的纪录。

Bitcoin price broke to a new all-time high of $109,400 during U.S. morning trade on Thursday, hitting the milestone rate for the first time in seven months.

比特币价格在周四的美国早晨交易中达到了新的109,400美元的新历史高价，这是七个月来首次达到里程碑式的速度。

The largest and oldest cryptocurrency rose to $109,486 according to the Brave New Coin Bitcoin Liquid Index, surpassing the previous record set just hours before President Trump’s inauguration on January 20.

根据勇敢的新硬币比特币液体指数，最大，最古老的加密货币上升至109,486美元，超过了先前的纪录，就在特朗普总统1月20日就职典礼之前。

This latest milestone represents a 46% surge from its April trough induced by mounting fears over global trade war and U.S. tariffs, highlighting Bitcoin’s remarkable resilience and growing institutional acceptance.

这一最新的里程碑是由于对全球贸易战和美国关税的恐惧越来越多，其4月份的潮流激增了46％，这强调了比特币的非凡韧性和日益增长的机构接受。

At the same time, the current price surge has been largely fueled by unprecedented institutional demand. Spot bitcoin exchange traded funds (ETF) gobbled up $3.6 billion in net inflows in May, signaling renewed confidence among traditional investors.

同时，目前的价格涨幅在很大程度上是由前所未有的机构需求推动的。现货比特币交易所交易基金（ETF）在5月吞噬了36亿美元的净流入，这表明传统投资者之间的信心恢复了信心。

This marks a dramatic turnaround from earlier in the year when ETFs saw significant outflows, and as of May 16, cumulative inflows into U.S. spot Bitcoin ETFs pulled in more than $2.8 billion.

这标志着年初ETF看到大量外流的戏剧性转变，截至5月16日，进入美国比特币ETF的累积流入超过28亿美元。

The iShares Bitcoin Trust (IBIT) has been leading the charge, with BlackRock’s iShares contributed 1,250 Bitcoins to the total inflow, bringing its total Bitcoin holdings to 633,212, worth $66.28 billion.

iShares比特币信托基金（IBIT）一直领先于这项指控，贝莱德的iShares贡献了1,250个比特币，使其总流入量，其总比特币持有量达到633,212，价值662.8亿美元。

The sustained institutional buying has created what analysts describe as a more durable foundation for Bitcoin’s current rally compared to previous speculative runs.

与以前的投机性运行相比，持续的机构购买创造了分析师所说的比特币当前集会更耐用的基础。

Bitcoin: Technical Strength and Price Targets

比特币：技术实力和价格目标

From a technical perspective, Bitcoin’s strength is evident in its sustained upward momentum. Bitcoin hit a new all-time high of $109,458 on Binance and reached a peak of $109,678 on Bitstamp.

从技术的角度来看，比特币的实力在其持续的向上势头中显而易见。比特币的二手币在Binance上达到了新的109,458美元，并在BitStamp上达到了109,678美元的高峰。

This marks seven consecutive green weekly candles in a row since the price bounced from its swing low of $74,500.

这是连续七个绿色每周蜡烛，因为价格从其秋千低至74,500美元的价格弹起。

If Bitcoin closes the current weekly candle above $106,500 on May 25, it will mark its longest streak of consecutive green weekly closes since October 2023, highlighting the strength of the current bullish momentum.

如果比特币在5月25日关闭了当前的每周蜡烛以上的$ 106,500，它将标志着自2023年10月以来，它将连续绿色每周结束最长的连胜纪录，从而突出了当前的看涨势头的实力。

Capitalization metrics are also reaching new heights, with Bitcoin’s market cap and realized cap also achieving new highs of $2.17 trillion and $911.5 billion, according to Glassnode data.

根据GlassNode的数据，资本化指标还达到了新的高度，比特币的市值和CAP还达到了2.17万亿美元和9115亿美元的新高点。

Several prominent analysts are calling for significantly higher prices throughout 2025:

几位著名的分析师呼吁整个2025年的价格明显更高：

• Ben Lilly, an analyst at the crypto hedge fund Arcaro, is targeting a price of $135,000 by the end of the year.

•加密对冲基金Arcaro的分析师Ben Lilly的目标是到今年年底的价格为13.5万美元。

• Alphractal CEO João Wedson sees potential for Bitcoin to reach $300,000 in 2025.

•Alphractal首席执行官JoãoWedson认为比特币在2025年达到300,000美元。

• Standard Chartered bank is also projecting a year-end price of $110,000 for Bitcoin.

•标准特许银行还预计比特币的年终价格为110,000美元。

At the same time, the crypto community’s price targets for Bitcoin remain remarkably bullish.

同时，加密货币社区的比特币价格目标仍然非常看涨。

Corporate treasury adoption continues to provide fundamental support for Bitcoin’s price. A slew of bitcoin-focused treasury companies, including Michael Saylor’s MicroStrategy and newly-launched firm Twenty One Capital added to the buying spree, helping lift BTC to a new record.

公司财政部采用继续为比特币价格提供基本支持。包括迈克尔·塞勒（Michael Saylor）的微型保险箱和新推出的公司二十一家资本在内，包括迈克尔·赛勒（Michael Saylor）的一系列以比特币为重点的财政部公司增加了购买，这有助于将BTC提升为新的记录。

This corporate treasury trend represents a structural shift in how businesses view Bitcoin as a legitimate treasury asset, providing additional buying pressure beyond traditional retail and institutional investors.

这一公司财政趋势代表了企业如何将比特币视为合法财政资产的结构性转变，从传统零售和机构投资者中提供了额外的购买压力。

Positive regulatory shifts in the U.S. have further supported the market, lending legitimacy of digital assets as an asset class for investors. Additionally, the U.S. Senate this week advanced a bill to regulate stablecoins while several states and sovereign nations are moving forward with legislation to create bitcoin reserves.

美国的积极监管转变进一步支持了市场，将数字资产作为投资者的资产类别的合法性。此外，美国参议院本周提出了一项法案，以规范稳定股，而几个州和主权国家正在通过立法前进以创建比特币储备。

The technical breakout has been accompanied by significant forced buying from short liquidations. Bitcoin on Binance recorded its largest short liquidation yet over the past 24 hours.

技术突破伴随着大量的强制性购买。 Binance上的比特币记录了过去24小时内最大的短清算。

Shifting sentiment saw short traders losing $66.3 million within this period as Bitcoin jumped from $103,195 to $105,535.

不断变化的情绪使短贸易商在此期间损失了6630万美元，因为比特币从103,195美元跃升至105,535美元。

Short liquidation tends to open the door for further market rallies, as it indicates likely new capital inflow into the market, fueling momentum, according to market analysis.

根据市场分析，短暂的清算倾向于为进一步的市场集会打开大门，因为这表明可能会进入市场的新资本流入，从而助长了势头。

Potential Headwinds on the Horizon

潜在的逆风在地平线上

Despite the bullish momentum, some analysts are warning of potential selling pressure ahead.

尽管有看涨的动力，但一些分析师仍警告未来的潜在销售压力。

Market data suggests investors may be moving their Bitcoin because new market data suggests it is overbought, with Bitcoin crossing the 70-line mark on the chart, meaning its current market price is far higher than its intrinsic value.

市场数据表明，投资者可能正在移动其比特币，因为新的市场数据表明它的购买力过高，比特币在图表上越过70线标记，这意味着其当前市场价格远高于其内在价值。

Additionally, Alphractal CEO João Wedson recommended caution and patience for investors, noting that BTC heatmaps reveal price movement toward high-leverage zones, suggesting market makers may target overconfident traders for liquidations.

此外，Alphractal首席执行官JoãoWedson建议对投资者谨慎和耐心，并指出BTC Heatmaps揭示了向高杠杆区域的价格转移，这表明做市商可能会针对过度自信的交易员进行清算。

What sets this rally apart from previous Bitcoin surges is its apparent institutional foundation.

这次集会与以前的比特币浪潮不同的是其明显的机构基础。

Analysts suggested that the current rally is more sustainable than previous ones, citing favorable financial conditions, stablecoin flows and

分析师认为，目前的集会比以前的集会更可持续，理由是有利的财务状况，Stablecoin流动和