“比特币的价格在五月一直在稳步上涨，到目前为止，比特币的价格上涨了16％”

“我们进入了一个替代宇宙，与4月初，当全球宏观担忧达到顶峰，比特币跌至74,000美元时”

As global macro concerns reached their peak in early April and bitcoin fell to $74,000, the price of the cryptocurrency has since rebounded by 38% to hit $103,000 on Thursday.

随着全球宏观担忧在4月初达到顶峰，比特币降至74,000美元，此后，加密货币的价格上涨了38％，在周四达到了103,000美元。

“We’ve entered an alternate universe very different from early April when global macro concerns were at their peak and bitcoin slumped to $74,000,” he added. “It’s possible a three-month window has opened for risk assets to thrive as a broader agreement between the U.S. and China is thrashed out.”

他补充说：“我们进入了一个替代宇宙，与4月初，全球宏观担忧达到顶峰，比特币跌至74,000美元。” “随着美国和中国之间更广泛的协议被淘汰，有可能为风险资产开放一个三个月的窗口。”

After languishing for several weeks amid tariff-related uncertainty, bitcoin’s price has been steadily climbing in May, up 16% so far the month. Cumulative inflows into ETFs tracking the price of bitcoin surpassed $40 billion last week and have seen just two days of outflows in May. The cryptocurrency has benefited from both liquidity in the stock market giving a boost to risk assets, as well as recent risk-off scenarios related to concerns about tariffs and deficits in the U.S. that have driven gains in gold as well as bitcoin.

在与关税相关的不确定性中萎缩了几个星期后，比特币的价格在5月稳步上涨，到目前为止，比特币的价格上涨了16％。累积流入ETF的累积跟踪比特币价格上周超过了400亿美元，并且在5月只有两天的流出。加密货币从股票市场的流动性中受益，从而促进了风险资产，以及最近与对美国关税和赤字的担忧以及驱动黄金和比特币促进收益的关注相关的风险。

On-chain data also shows lower selling pressure as indicated by bitcoin inflows into exchanges and increased liquidity in the crypto market as measured by new records of the amount of Tether stablecoin USDT, a gauge of crypto market liquidity, sitting on exchanges, according to CryptoQuant.

链链数据还显示了较低的销售压力，如比特币流入交流和加密市场流动性增加所表明的那样，通过新的记录，据置于交流的加密市场流动性的链球链球菌stablecoin usdt的新记录。

Investors have been expecting upcoming catalysts, including regulatory updates as well as corporate treasury investments, to drive bitcoin prices higher. Since the beginning of the year, the number of bitcoin held by public companies has grown 31% to about $349 billion, according to Bitcoin Treasuries. That comprises 15% of the total bitcoin supply.

投资者一直期望即将推出的催化剂，包括监管更新以及公司财政投资，以提高比特币价格。根据比特币国库，自今年年初以来，上市公司持有的比特币数量已增长31％，达到3490亿美元。这占比特币供应总额的15％。

Earlier this week, the Senate voted to advance legislation that would create the first regulatory framework in the U.S. for stablecoins, a key sector of the crypto market. President Donald Trump has said he wants to see crypto regulation on his desk and ready to sign by August before Congress is in recess.

本周早些时候，参议院投票决定推进立法，这将在美国为加密货币市场的关键部门stablecoins创建第一个监管框架。唐纳德·特朗普（Donald Trump）总统表示，他想在桌子上看到加密货币监管，并准备在国会休会前的八月签署。

Also this month, Coinbase joined the S&P 500 benchmark stock index, which Wall Street has praised as a watershed moment for the crypto industry.

同样，本月，Coinbase加入了标准普尔500基准股票指数，华尔街对加密货币行业的分水岭表示赞赏。