比特币的价格上涨至102,819美元，自2月3日以来就没有达到高峰

随着公司参与者和交易所交易的资金（ETF）从公开市场上sc起更多的BTC，这些机构已全力以赴。

On Thursday, bitcoin’s price rose to $102,819, reaching a peak not seen since Feb. 3, and several analysts highlighted a growing wave of institutional involvement as the driving force behind the cryptocurrency’s climb.

周四，比特币的价格上涨至102,819美元，自2月3日以来就没有达到高峰，几位分析师强调了机构参与的日益增长，这是加密货币攀登背后的驱动力。

As more corporate players and exchange-traded funds (ETFs) continue to scoop up more BTC from the open market, industry chatter has seen institutions cited as a major factor in bitcoin’s bullish run.

随着越来越多的公司参与者和交易所交易的资金（ETF）继续从公开市场上挖出更多的BTC，行业chatter被认为是比特币看涨行为的主要因素。

With bitcoin cracking the $100,000 mark today, market watchers and crypto industry specialists chimed in with their thoughts on the latest upward run.

随着比特币今天的100,000美元大关，市场观察家和加密行业的专家对最新的上升的想法陷入了困境。

“Under the surface, spot ETF flows remain firm, particularly during U.S. hours. Open interest is high but not frothy, and funding is neutral—this is real demand, not leverage-driven price chasing. Exchange balances continue to decline, and onchain accumulation by long-term holders has resumed,” Bitfinex analysts told Bitcoin.com News on Thursday.

“在表面下，现货ETF流仍然牢固，尤其是在美国时间。开放的兴趣很高，但不是泡沫，资金是中性的 - 这是真正的需求，而不是杠杆驱动的价格追加。交换余额继续下降，长期持有人的链积累，Bitfinex Analyst恢复了，” Bitfinex Analyst在周四告诉Bitcoin.com新闻。

The market researchers added: “This is not a melt-up—it’s a structurally supported move. As long as ETF + institutional flows persist and macro stays stable, dips are likely to be brief and bought aggressively. The path of least resistance remains higher.”

市场研究人员补充说：“这不是一个融化，这是一个结构上支持的举动。只要ETF +机构流持续存在并且宏观保持稳定，倾角可能会进行简短并积极地购买。电阻最小的路径保持较高。”

Some see this moment as a full-blown plot twist, and Mike Cahill, CEO of Douro Labs—a major contributor to the Pyth Network—told Bitcoin.com News that’s exactly what it is.

有些人认为这一刻是一个成熟的情节转折，而杜罗实验室（Douro Labs）的首席执行官迈克·卡希尔（Mike Cahill）是Pyth Network的主要贡献者 - Told Bitcoin.com新闻，这正是它的本质。

“Bitcoin crossing $100K signals a full-on narrative reset: that’s because this milestone cements BTC’s role as a macro asset in institutional portfolios. We’re seeing coordinated flows from ETFs, sovereign wealth funds, and asset managers who increasingly view bitcoin as a hedge against policy uncertainty and a vehicle for long-duration growth. The price action that’s happening right now is just catching up to what the smart money’s been preparing for all year,” Cahill stated.

“穿越10万美元的比特币标志着一个全面的叙述重置：这是因为这个里程碑巩固了BTC在机构投资组合中作为宏观资产的作用。我们看到，从ETF，主权财富基金，主权经理以及资产管理人员之间的协调流动，以及越来越多地将比特币视为对政策不确定的行动的努力，这是一个越来越多的行动。钱全年都准备了。”卡希尔说。

Joe Burnett — Director of Market Research at crypto financial services firm Unchained — shared in a note to our newsdesk that Strive Asset Management’s newly announced tie-up with Asset Entities (NASDAQ:ASSET) might also be part of the mix.

加密金融服务公司Unchained的市场研究总监Joe Burnett在我们的Newsdesk的一份注释中分享了努力资产管理公司与资产实体新宣布的新宣布的合作（NASDAQ：ASSET）也可能是其中的一部分。

“Since the Strive announcement, the stock has surged over 700%. This underscores growing market excitement around bitcoin treasury companies—firms that convert balance sheet assets, cash flow, overvalued equity, and even leverage into bitcoin. It’s a powerful new model for capital allocation in a world of broken money,” Burnett disclosed.

“自从宣布宣布以来，该股票飙升了700％以上。这突显了比特币国库公司围绕比特币国库公司的市场兴奋，这些公司将转换资产负债表，现金流，现金流量，高估的股权甚至杠杆作用。它是一个有力的新模式，用于在损失世界中的资本分配中，这是一种强大的新模型，” Buntett公开。

Other industry figures weighed in on BTC’s latest price gains and what could be driving them.

其他行业数字也加剧了BTC的最新价格上涨以及可能推动它们的原因。

“Investors hate uncertainty, but on the flipside, clarity brings confidence,” Head of Finance at Parity Technologies Dave Sedacca, told Bitcoin.com News on Thursday. “Whether it’s Trump revealing positive developments in trade agreements or the FOMC reaffirming their commitment to stable interest rates, these signals help stabilize market sentiment. Combined with BTC’s recent outperformance of gold, BTC is becoming an increasingly attractive asset for institutional investors.”

“投资者讨厌不确定性，但在另一方面，清晰度会带来信心，” Parity Technologies Dave Sedacca的财务负责人周四对Bitcoin.com新闻说。 “无论是特朗普揭示贸易协定方面的积极发展，还是FOMC重申其对稳定利率的承诺，这些信号都有助于稳定市场情绪。与BTC最近的黄金表现相结合，BTC正成为机构投资者越来越有吸引力的资产。”

According to the original Fogo Contributor Doug Colkitt, this rally still has plenty of steam thanks to strong underlying fundamentals.

根据最初的Fogo贡献者Doug Colkitt的说法，由于强大的基本面，这次集会仍然有很多动力。

“$100K is less about hype and more about market structure. We’re finally seeing consistent, institutionally driven demand meet maturing infrastructure—liquid venues, transparent custody, and real settlement rails. Bitcoin’s rally is being fueled by fundamentals, not froth—and that’s what makes this moment more sustainable than previous cycles,” Colkitt added.

“ $ 10万美元不关乎炒作，而更多地与市场结构有关。我们终于看到了一致的，机构驱动的需求符合成熟的基础设施 - 液体的场所，透明的监护权和真实的和解轨道。比特币的集会源于基本面，而不是使这一刻更具可持续性的是比以前的节目更具可持续性的。”