比特币（BTC）价格上涨至110k $ 110k

随着比特币越过111,000美元的成绩，通过其首席分析师瑞安·李（Ryan Lee）达到了111,825美元的新历史最高高价。

Bitcoin (BTC) continued its impressive rally, briefly touching $111,825 early on May 23 as analysts from Bitget Research offered insights into the factors driving the cryptocurrency’s recent surge in value.

比特币（BTC）继续其令人印象深刻的集会，并于5月23日早些时候短暂触及111,825美元，因为Bitget Research的分析师提供了对推动加密货币最近价值激增的因素的见解。

As the cryptocurrency crossed the $111,000 mark, reaching a new all-time high at $111,825, Bitget Research, through its chief analyst Ryan Lee, offers critical insights into the drivers behind the surge and what might lie ahead. Lee pinpoints rising demand from spot Bitcoin exchange-traded funds and a tightening supply following the recent halving as primary catalysts.

随着加密货币越过了111,000美元的成绩，通过其首席分析师瑞安·李（Ryan Lee）的首席分析师瑞安·李（Ryan Lee）达到了111,825美元的新历史最高点，对激增的驱动因素和可能的情况提供了重要的见解。 Lee指出了现货比特币交易所贸易资金的需求不断上升，并且在最近减半后作为主要催化剂而收紧了供应。

The macroeconomic backdrop is also pivotal. Expectations of interest rate cuts by the Federal Reserve and ongoing inflation have increased the appeal of Bitcoin as a hedge against currency debasement. “Many investors are watching for a move to $113,000 by June 2025,” said Lee.

宏观经济背景也是关键的。美联储和持续通货膨胀率降低利率的期望增加了比特币的吸引力，作为抵抗货币贬值的对冲。李说：“许多投资者正在关注到2025年6月的搬迁至113,000美元。”

The chief analyst further explained that the launch of spot Bitcoin ETFs has brought sustained inflows of institutional money into the cryptocurrency market. Since their inception, these ETFs have consistently seen an influx of funds from investors seeking a regulated avenue for exposure to Bitcoin.

首席分析师进一步解释说，现货比特币ETF的推出已将机构资金持续流入到加密货币市场中。自成立以来，这些ETF一直从寻求受监管的比特币途径的投资者大量资金涌入。

Highlighting the magnitude of institutional interest, Lee pointed out that the total inflow into Bitcoin ETF has surpassed $43.7 billion. U.S. Bitcoin ETFs record inflows of over $600 million in the last 24 hours.

李强调了机构兴趣的幅度，指出，进入比特币ETF的总流入超过了437亿美元。在过去的24小时内，美国比特币ETF的创纪录流入超过6亿美元。

However, despite its current strength, Lee noted that Bitcoin’s price remains vulnerable. He mentioned that a stronger U.S. dollar, renewed geopolitical tensions, or negative regulatory developments could stall or reverse gains.

但是，尽管目前的实力，李指出，比特币的价格仍然很容易受到伤害。他提到，更强大的美元，更新的地缘政治紧张局势或负面的监管发展可能会停滞或逆转收益。

Lee also mentioned that Bitcoin’s history of sharp corrections following rapid rallies has left some market participants cautious. The rapid rise in the cryptocurrency’s price over the past few months, especially after the recent halving event, has raised concerns about a potential setback.

李还提到，在快速集会之后，比特币对锐利校正的历史使一些市场参与者谨慎。在过去的几个月中，加密货币价格的迅速上涨，尤其是在最近的减半事件之后，人们对潜在的挫折引起了人们的担忧。

Moreover, regulatory developments will also be crucial. The advancement of the GENIUS Act in the U.S., which is designed to provide clear regulatory guidelines for cryptocurrency, could influence investor confidence and institutional participation in the months ahead.

此外，监管发展也将是至关重要的。 《天才法》在美国的发展，旨在为加密货币提供明确的监管准则，可能会影响投资者的信心和未来几个月的机构参与。

As Bitcoin continues to move at the apex of the crypto market, its price movements are being followed closely by both market participants and industry experts.

随着比特币继续在加密货币市场的顶点移动，市场参与者和行业专家都紧随其后的价格变动。