随着机构加入，比特币多头反击，目标为 10 万美元

多种因素共同推动需求激增，比特币市场呈现看涨势头。伦敦证券交易所宣布 5 月份推出比特币和以太坊交易，这为机构投资开辟了途径，而私人银行和基金经理分配的客户询盘激增则表明兴趣不断上升。有利的即期远期基础和累积策略为投资者提供了有吸引力的切入点，进一步支撑了涨势。在波动性加剧的情况下，比特币通过与传统相关性脱钩而表现出弹性，这表明支撑其近期涨幅的结构性力量正在转向更强大的力量。

Bitcoin Bulls Reignite Rally, Eyeing $100,000 as Institutions Enter the Fray

随着机构加入竞争，比特币多头重新点燃反弹，瞄准 10 万美元

After a month of erratic price swings, the bulls are regaining control of the Bitcoin market, rekindling hopes of the cryptocurrency soaring past its previous all-time high and reaching the coveted $100,000 mark.

经过一个月不稳定的价格波动后，多头正在重新控制比特币市场，重新点燃了加密货币飙升至历史新高并达到令人垂涎的 10 万美元大关的希望。

Catalysts for the Resurgence

复兴的催化剂

The latest upswing is attributed to several key drivers, primarily the groundbreaking announcement by the London Stock Exchange of its intention to launch Bitcoin and Ethereum exchange-traded notes (ETNs) in May. This move has shattered barriers and paved the way for institutional investors to participate in the cryptocurrency market through regulated channels.

最新的上涨归因于几个关键驱动因素，主要是伦敦证券交易所突破性地宣布打算在 5 月份推出比特币和以太坊交易所交易票据 (ETN)。此举打破了壁垒，为机构投资者通过受监管的渠道参与加密货币市场铺平了道路。

Surge in Institutional Demand

机构需求激增

The demand for Bitcoin is surging at exclusive private banks. Wealth advisors have been inundated with inquiries from clients eager to invest in BTC, ranging from direct spot purchases to advanced financial products like accumulators and forwards. Fund managers are also allocating funds to crypto, attracted by Bitcoin's perceived diversification benefits.

高端私人银行对比特币的需求正在激增。财富顾问已经被渴望投资比特币的客户淹没，咨询范围从直接现货购买到累加器和远期等先进金融产品。受比特币多元化优势的吸引，基金经理也将资金分配给加密货币。

Trading Strategies

交易策略

Within the trading community, investors are pursuing opportunities to capitalize on the rally. The elevated Bitcoin spot-forward basis, with yields hovering above 20%, offers an attractive entry point. Meanwhile, the use of accumulators, which enable investors to buy Bitcoin at a discount while capturing the influx of institutional interest, is emerging as a strategic play.

在交易界，投资者正在寻找利用反弹的机会。比特币现货远期基础较高，收益率徘徊在 20% 以上，提供了一个有吸引力的切入点。与此同时，累积器的使用正在成为一种战略策略，它使投资者能够以折扣价购买比特币，同时吸引机构利益的涌入。

Decoupling from Traditional Correlations

与传统相关性脱钩

Despite Bitcoin's volatility, particularly during U.S. trading hours, the digital asset has surprisingly shrugged off rising real yields in excess of 2%. This divergence from historical correlations suggests that Bitcoin's remarkable 50% year-to-date gains are rooted in more structural factors, namely, the growing institutional adoption and resulting capital inflows.

尽管比特币波动很大，尤其是在美国交易时段，但这种数字资产却出人意料地摆脱了超过 2% 的实际收益率上涨的影响。这种与历史相关性的背离表明，比特币今年迄今为止 50% 的惊人涨幅源于更多的结构性因素，即不断增长的机构采用和由此产生的资本流入。

Sustaining the Rally

维持集会

As the market evolves from speculative fervor to more rational investment strategies, the focus turns to Bitcoin's ability to sustain its upward trajectory. If Bitcoin can break through previous highs, it could reignite the bull market, culminating in six-figure valuations and rekindling the "fear of missing out" narrative that has historically fueled crypto's growth.

随着市场从投机热情转向更加理性的投资策略，焦点转向比特币维持其上升轨迹的能力。如果比特币能够突破之前的高点，它可能会重新点燃牛市，最终达到六位数的估值，并重新点燃历史上推动加密货币增长的“害怕错过”的说法。

Conclusion

结论

The resurgence of Bitcoin, driven by the entry of institutional players, presents a compelling opportunity for investors seeking diversification and potential upside. However, it remains to be seen whether Bitcoin can maintain its momentum and break through its previous all-time high. The market will continue to closely monitor the cryptocurrency's performance as it navigates a transformed landscape characterized by growing institutionalization and evolving trading dynamics.

在机构参与者的进入推动下，比特币的复苏为寻求多元化和潜在上涨空间的投资者提供了绝佳的机会。不过，比特币能否保持势头并突破此前的历史高点还有待观察。市场将继续密切关注加密货币的表现，因为它正在经历一个以日益制度化和不断变化的交易动态为特征的变革格局。