比特币，defi和tradfi：在2025年弥合差距

探索如何针对传统金融（TradFI）基准测量比特币和DEFI，从而揭示了融合和剩余的差异。

Bitcoin, DeFi, and TradFi are increasingly intertwined. Let's dive into how these sectors compare and what it means for the future of finance.

比特币，Defi和Tradfi越来越相互交织。让我们深入了解这些部门的比较以及它对财务的未来意味着什么。

Bitcoin's Evolution: From Niche to Mainstream

比特币的演变：从利基到主流

Bitcoin has transformed from an internet experiment into a recognized financial instrument. The launch of spot Bitcoin ETFs in the U.S. accelerated this, providing regulated access and signaling strong demand. Now, it's essential to understand Bitcoin in relation to traditional systems.

比特币已从互联网实验转变为公认的金融工具。美国在美国的斑点比特币ETF的推出加速了这一点，提供了受监管的访问和信号强劲的需求。现在，了解与传统系统有关的比特币至关重要。

Measuring Crypto's Scale Against TradFi

衡量加密对Tradfi的规模

Comparing crypto metrics to TradFi provides context. Consider the number of crypto users versus bank card holders, Bitcoin ETF AUM against equity and gold funds, and Bitcoin futures notional size versus S&P contracts. Even on-chain payments can be weighed against Visa and Mastercard. Similarly, DeFi's total value locked and stablecoin float can be viewed alongside hedge fund AUM.

将加密指标与tradfi进行比较提供了上下文。考虑加密用户与银行卡持有人的数量，比特币ETF AUM相对于股权和黄金基金的数量，以及比特币期货的名义规模与标准普尔合同。即使是链上的付款也可以与Visa和MasterCard相比。同样，可以与对冲基金AUM一起查看Defi的总价值锁定和Stablecoin Float。

Gold vs. Bitcoin: The Safe Haven Debate

黄金与比特币：避风港辩论

Interestingly, precious metals like gold, silver, and platinum have outperformed Bitcoin this year. Gold has surged by 44%, while Bitcoin has risen just over 20%. Central banks' diversification into gold supports this trend, as they cumulatively hold around 36,000 metric tons. Bitcoin's role as a reserve asset is limited, as it hasn't yet found its way onto central bank balance sheets.

有趣的是，今年黄金，银和白金等贵金属表现优于比特币。黄金飙升了44％，而比特币的增长刚刚上升了20％。中央银行对黄金的多元化支持了这一趋势，因为它们累计拥有约36,000公吨。比特币作为储备资产的作用有限，因为它尚未找到中央银行资产负债表。

DeFi's Integration with Real-World Assets

Defi与现实世界资产的集成

Lendr.fi's $RWAL token launch on September 23, 2025, highlights DeFi's move towards real-world asset (RWA) tokenization. This platform offers liquid-staked RWA tokens, allowing users to participate in the multi-trillion dollar RWA market. Token holders can vote on protocol upgrades and earn a share of RWA performance fees. This move integrates traditional Web2 assets like ETFs and real estate into the DeFi space.

Lendr.Fi于2025年9月23日发布的$ RWAL代币启动，突出了Defi朝着现实世界中的资产（RWA）代币化的发展。该平台提供了液体固定的RWA代币，使用户可以参与数万亿美元的RWA市场。令牌持有人可以对协议升级进行投票并赚取RWA性能费用。此举将传统的Web2资产（例如ETF和房地产）集成到Defi空间中。

TradFi's Influence on Bitcoin Volatility

Tradfi对比特币波动的影响

Wall Street's influence might be taming Bitcoin's volatility. As noted on September 21, 2025, Bitcoin held near $115,700, sparking debate on whether TradFi is steadying Bitcoin's swings. Michael Saylor believes calmer price action is beneficial, attracting mega institutions. CME Group's crypto options notional open interest hit a record $7.1 billion on September 9, indicating expanding hedging tools.

华尔街的影响力可能是驯服比特币的波动性。正如2025年9月21日所述，比特币举行的$ 115,700，引发了关于Tradfi是否正在稳定比特币的波动的辩论。迈克尔·塞勒（Michael Saylor）认为，平静的价格行动是有益的，吸引了大型机构。 CME集团的加密货币选项名义上的开放兴趣在9月9日达到了创纪录的71亿美元，表明扩大了对冲工具。

Bitcoin Cycle Analysis and Future Outlook

比特币周期分析和未来前景

Historical patterns suggest Bitcoin might be on the verge of another explosive rally. According to trader Merlijn, Bitcoin's long-term chart echoes its historical cycle patterns, with a mid-cycle “trap” shaking out weaker hands before resuming its rise. Similarly, Ash Crypto pointed out a hidden bullish divergence on Bitcoin’s weekly chart, suggesting a potential Q4 rally. Buyers holding the $114,000-$115,000 range support this constructive outlook.

历史模式表明，比特币可能处于另一个爆炸性的集会的边缘。根据Trader Merlijn的说法，比特币的长期图表呼应其历史周期模式，中期的“陷阱”在恢复其上升之前摇晃着弱的手。同样，Ash Crypto指出了比特币每周图表上隐藏的看涨差异，这表明潜在的Q4集会。持有$ 114,000- $ 115,000范围的买家支持这种建设性的前景。

Final Thoughts

最后的想法

The convergence of Bitcoin, DeFi, and TradFi is reshaping the financial landscape. While challenges remain, the progress is undeniable. It's like watching your favorite indie band finally get a record deal – things are about to get interesting!

比特币，Defi和Tradfi的融合正在重塑金融领域。尽管仍然存在挑战，但进展是不可否认的。就像看着您最喜欢的独立乐队终于获得了唱片交易一样 - 事情将变得有趣！