比特币（BTC）价格在5月19日徘徊在5月19日的$ 103,000

比特币（BTC）徘徊在$ 103,000附近

Bitcoin (BTC) hovered above $103,000 on Friday after notching its highest weekly close. The top cryptocurrency briefly touched $107,115 in early Monday trading before trimming gains.

比特币（BTC）在每周最高的收盘处获得最高的收入后，周五徘徊在103,000美元以上。最高加密货币在周一早些时候交易中短暂触及了107,115美元，然后修剪收益。

The surge propelled Bitcoin’s market capitalization above $2.18 trillion for the first time. This milestone is noteworthy as it signals an ongoing shift in institutional capital toward cryptocurrency.

这次激增首次推动了比特币的市值超过2.18万亿美元。这个里程碑值得注意，因为它表明机构资本向加密货币发生了持续的转变。

Insiders' Circle: Moody’s Cuts U.S. Credit Outlook, JPMorgan Warns of Recession

内部人士圈子：穆迪（Moody's）削减了美国信用前景，摩根大通（JPMorgan）警告

Amid rising global uncertainty, Moody’s downgraded the U.S. credit outlook, setting the stage for long-term fiscal deterioration, according to a report by Bloomberg.

根据彭博社的一份报告，在全球不确定性上升，穆迪降低了美国的信用展望，为长期财政恶化奠定了基础。

Meanwhile, JPMorgan (NYSE:JPM) CEO Jamie Dimon issued a stark warning of a potential recession in the United States. In an interview with CNBC, Dimon cited sticky inflation, unresolved trade tensions, and the return of protectionist policies as key threats.

同时，摩根大通（NYSE：JPM）首席执行官杰米·戴蒙（Jamie Dimon）明显警告美国潜在的衰退。在接受CNBC的采访时，戴蒙（Dimon）认为粘性通货膨胀，未解决的贸易紧张局势以及贸易保护主义政策作为关键威胁。

These signals have raised interest in safe-haven assets once again, with Bitcoin, gold, and select equities attracting capital inflows.

这些信号再次引起了对避风港资产的兴趣，比特币，黄金和精选股票吸引了资本流入。

In other developments, a high-stakes trade summit between the U.K. and EU raised concerns about future regulatory shifts that could alter capital flows. The uncertainty is already being felt in currency markets, where traders are pricing in higher volatility premiums for GBP and EUR pairs.

在其他发展中，英国和欧盟之间的高风险贸易峰会引起了人们对可能改变资本流量的未来监管转变的担忧。货币市场已经感觉到不确定性，在货币市场上，交易者的价格为GBP和EUR PAIRS的较高波动性保费。

In a separate development, Japanese firm Metaplanet has increased its Bitcoin holdings by over 1,000 BTC, bringing the total to 7,800 BTC. This move follows a report by Blockware Solutions, which highlighted a decrease in liquid BTC on exchanges and a potential shift in favor of structured products.

在另一个开发项目中，日本公司Metaplanet将其比特币持有量增加了1,000多个BTC，总计达到了7,800 BTC。此举遵循Blockware Solutions的一份报告，该报告强调了交换中液体BTC的减少，并有利于结构化产品的潜在转变。

Crypto Market Week Ahead: Technicals Flash Overheated Conditions, Macro Headwinds Grow Louder

加密市场一周：技术闪烁的条件过热，宏逆风变得更大

The crypto market is setting the stage for a volatile week as technicals flash overheated conditions and macro headwinds grow louder.

加密市场正在为一个动荡的一周奠定基础，因为技术闪烁的条件过热，宏观逆风变得更大。

On-chain data continues to reflect robust bullish undercurrents, echoing the macro narrative laid out in the opening section. Realized capitalization crossed a fresh record of $906 billion on Thursday, indicating heightened conviction from both institutional and long-term holders.

链上的数据继续反映出强大的看涨暗流，与开幕部分中阐述的宏观叙述相呼应。实现的资本化跨越了周四的9006亿美元新闻，这表明机构和长期持有人的定罪提高了。

This metric, which assigns value based on the price at which each Bitcoin last moved, adds weight to the ongoing accumulation phase and aligns with Bitcoin’s climb above $104,000.

该指标根据每个比特币上次移动的价格分配价值，它增加了正在进行的累积阶段的重量，并与比特币的攀登保持一致。

Notably, the realized cap increased by over $14.3 billion in just ten days, closely mirroring net inflows into Bitcoin spot ETFs and corporate holdings. BlackRock’s iShares Bitcoin Trust (IBIT) alone added more than 10,000 BTC during this stretch, reaffirming the strength of demand from institutional allocators.

值得注意的是，已实现的上限在短短十天内增加了143亿美元，将净流入量与比特币现场ETF和公司持有量紧密相似。在此期间，仅贝莱德的iShares比特币信托（IBIT）增加了10,000多个BTC，重申了机构分配者的需求强度。

At the same time, wallet activity in the 100 to 1,000 BTC range grew by 2.2%, with an additional 122,540 BTC being accumulated since May 8. This mid-size cohort often represents whales or treasury buyers, further reinforcing the strategic nature of accumulation at current price levels.

同时，100至1,000 BTC范围的钱包活动增长了2.2％，自5月8日以来又积累了122,540 BTC。这种中型队列通常代表鲸鱼或财政部买家，进一步增强了在当前价格水平上积累的战略性质。

Supporting this, Binance’s spot net volume delta flipped back into positive territory, reflecting a surge in spot market activity and waning sell-side pressure. Sharp increases in this metric have historically foreshadowed local tops. However, in this instance, the move aligns with healthy demand rather than euphoria, given the realized cap gains and ETF flows.

支持这一点，Binance的现货净量达美汇入了积极的领域，反映了现货市场活动的激增和销售端压力的增长。从历史上看，该指标的急剧增加已经预示了当地上衣。但是，在这种情况下，鉴于已实现的上限收益和ETF流动，这一举动与健康的需求而不是欣快感保持一致。

Finally, UTXO data shows that Bitcoin supply held by wallets in the 1–10 BTC and 10–100 BTC bands has continued to rise, showcasing investor confidence across different tiers. The combination of sustained realized cap growth, fresh ETF demand, and organic wallet accumulation paints a structurally bullish picture as BTC attempts to breach resistance near the $107,000 region.

最后，UTXO数据表明，在1-10 BTC和10-100 BTC频段中，钱包持有的比特币供应继续上升，从而展示了不同层次的投资者信心。随着BTC试图在107,000美元的地区违反抵抗力时，持续实现的帽增长，新鲜的ETF需求和有机钱包积累的结合绘制了一个结构上看涨的画面。