比特币（BTC）处于低于110,000美元的$ 110,000

本文是出于一般信息目的，不打算被视为法律或投资建议。

Key takeaways:

关键要点：

* Bitcoin (BTC) price remained below the $110,000 mark on May 26 amid macroeconomic uncertainty and Nvidia's earnings, keeping traders cautious about new all-time highs.

*比特币（BTC）的价格在5月26日的110,000美元低于宏观经济的不确定性和NVIDIA的收入，使交易员对新的历史最高高点保持谨慎。

* Stellar (XLM) price showed strength with a 3.6% rally after President Trump postponed retaliatory European Union tariffs.

*恒星（XLM）的价格在特朗普总统推迟了报复性欧盟关税后的3.6％集会上的实力。

* Bitcoin futures premium remained in the neutral range of 5% to 10%, while institutional interest in Bitcoin continued to grow.

*比特币期货保费在5％至10％的中性范围内，而对比特币的机构权益持续增长。

Bitcoin price failed to hold above the $110,000 level on May 26, even as European stock markets responded positively to President Donald Trump postponing his planned 50% tariffs on European Union imports.

比特币的价格未能超过5月26日的110,000美元水平，即使欧洲股市对唐纳德·特朗普总统的反应积极，推迟了他计划对欧盟进口的50％关税。

The broader market risk appetite will now depend partly on Nvidia's (NVDA) earnings report on May 28, and anticipation for this could explain why Bitcoin is yet to set a new all-time high, despite trading just 2.6% below its record high of $111,957 on May 25.

现在，更广泛的市场风险食欲将部分取决于5月28日的NVIDIA（NVDA）收益报告，对此的期望可以解释为什么比特币在5月25日低于其111,957美元的创纪录高度的2.6％，但在5月25日的创纪录高度仅低2.6％。

Bitcoin options markets are hinting at a higher probability of upward movement, which suggests that whales and market makers remain confident.

比特币期权市场暗示了向上移动的可能性更高，这表明鲸鱼和做市商保持自信。

The negative 6% Bitcoin options delta skew indicates that put (sell) options are trading at a discount, a typical characteristic of bullish markets. Readings closer to zero reflect a more balanced demand between put and call (buy) options, a trend which was observed on May 25.

负6％比特币选项Delta偏斜表明PUT（卖出）期权以折扣价进行交易，这是看涨市场的典型特征。接近零的读数反映了Put和Call（买入）选项之间的更平衡的需求，这一趋势于5月25日观察到。

It’s likely that the persistent institutional demand for Bitcoin is gradually shifting the risk perception among the world’s largest investment firms. Michael Saylor’s firm, Strategy, purchased $427 million worth of Bitcoin between May 19 and May 25, at an average price of $106,237. Meanwhile, spot Bitcoin exchange-traded funds (ETFs) saw another $2.75 billion in inflows during the same period.

对比特币的持续机构需求可能正在逐渐改变世界上最大的投资公司的风险感知。迈克尔·赛勒（Michael Saylor）的公司战略在5月19日至5月25日之间以106,237美元的价格购买了价值4.27亿美元的比特币。同时，在同一时期，现货比特币交易所交易基金（ETF）的流入量为27.5亿美元。

During JPMorgan’s Annual Investor Day on May 19, CEO Jamie Dimon announced that the bank would finally allow clients to purchase spot Bitcoin ETFs. While the move does not include custody or official recommendations of cryptocurrencies, it opens the door to indirect Bitcoin exposure for the bank’s $6 trillion in customer deposits.

在摩根大通（JPMorgan）5月19日的年度投资者日期间，首席执行官杰米·戴蒙（Jamie Dimon）宣布，该银行最终将允许客户购买现货比特币ETF。虽然此举不包括保密货币的监护权或正式建议，但它为该银行的6万亿美元客户存款打开了大门。

Related: Bitcoin’s new highs may have been driven by Japan bond market crisis

相关：比特币的新高点可能是由日本债券市场危机驱动的

US markets are closed on May 26 in observance of the Memorial Day holiday. As a result, any optimism stemming from the delayed US–EU tariffs may be tempered by ongoing concerns surrounding US government debt and the threat of a potential economic recession. The recent 5.1% drop in MBA Mortgage Applications for the week ending May 23 prompted traders to adopt a more cautious stance.

美国市场将于5月26日在纪念日假期关闭。结果，由于对美国政府债务的持续担忧以及潜在的经济衰退的威胁，因此延迟的美国 - 欧盟关税引起的任何乐观态度可能会缓解。截至5月23日的本周，最近在MBA抵押申请中下降了5.1％，促使交易者采取更加谨慎的立场。

While Bitcoin derivatives metrics remain healthy, upcoming economic data will be critical for market sentiment. Investors are closely watching the Richmond Fed manufacturing index due on May 28, followed by the PCE inflation data on May 30. These indicators will likely influence risk appetite and the chances of Bitcoin breaking above the $112,000 mark in the short term.

尽管比特币衍生品指标保持健康，但即将到来的经济数据对于市场情绪至关重要。投资者正在密切关注5月28日的里士满美联储制造指数，其次是5月30日的PCE通货膨胀数据。这些指标可能会影响风险的胃口，并且在短期内将比特币破裂的机会超过了112,000美元。