比特币在三月份一度飙升，但现在却无法恢复上涨势头

有几个因素影响了这种停滞，尤其是美国投资者兴趣的下降。比特币近期飙升至 64,000 美元引发质疑

Bitcoin, which experienced a strong surge in March, now seems to be struggling to regain its upward momentum. Several factors are contributing to this stagnation, including a decrease in interest from American investors.

比特币在三月份经历了强劲的飙升，现在似乎正在努力恢复上涨势头。有几个因素导致了这种停滞，其中包括美国投资者兴趣的下降。

The recent rise of Bitcoin to $64,000 has raised questions about its sustainability, especially given the absence of significant support from the American market, particularly the Coinbase platform, despite the presence of Asian capital flows.

比特币最近上涨至 64,000 美元，引发了对其可持续性的质疑，特别是考虑到尽管存在亚洲资本流动，但缺乏美国市场（尤其是 Coinbase 平台）的大力支持。

The Challenges of the American Stock Exchange

美国证券交易所的挑战

As the Bitcoin price continues its rapid climb, the lack of enthusiasm from the American Stock Exchange, and especially from Coinbase, is intriguing. Indeed, the “Coinbase Premium” index, which measures the price difference between Coinbase and other platforms, has fallen into negative territory. A clear sign that American buyers are no longer quite in the dance, casting doubt on the strength of this rise.  

随着比特币价格继续快速攀升，美国证券交易所，尤其是 Coinbase 缺乏热情，这一点很耐人寻味。事实上，衡量 Coinbase 与其他平台之间价格差异的“Coinbase Premium”指数已跌入负数区域。这是一个明显的迹象，表明美国买家不再参与其中，让人对这种上涨的力度产生怀疑。

Without the active participation of US investors, some analysts, such as BQYoutube, believe that this rally might be a false dawn. The American market, usually a pillar in the rise of crypto-assets, seems to have deserted the area, making the situation more fragile.

如果没有美国投资者的积极参与，BQYoutube等一些分析师认为，这次反弹可能只是一个虚假的曙光。美国市场通常是加密资产崛起的支柱，但现在似乎已经放弃了该地区，使局势变得更加脆弱。

Bitcoin and Retail: A Glimmer of Hope

比特币和零售：一线希望

But not everything is bleak for Bitcoin. Active addresses, often an indicator of interest from retail investors, show a slight recovery. After hitting a low of 600,000 at the end of September, they have recently climbed back above 700,000. 

但比特币并非一切都黯淡。活跃地址通常是散户投资者兴趣的指标，显示出小幅复苏。在9月底触及60万的低点后，最近又回升至70万以上。

This could signal a revival of interest from small investors, despite the caution of major players in the market.  

尽管市场主要参与者持谨慎态度，但这可能表明小投资者的兴趣重新燃起。

This pick-up in activity among retail investors could breathe new life into the market, even if large American investors remain absent. However, the decline in Open Interest and trading volumes reminds us that the path is still riddled with obstacles for Bitcoin, especially without a global support, including that of Wall Street.

即使美国大型投资者仍然缺席，散户投资者活动的回升也可能为市场注入新的活力。然而，未平仓合约和交易量的下降提醒我们，比特币的发展道路仍然充满障碍，尤其是在没有包括华尔街在内的全球支持的情况下。

Fortunately, even with a cautious American market, optimism around Bitcoin persists, notably with the prediction from Standard Chartered: a Bitcoin at $100,000 before the American elections would be a pleasant surprise.

幸运的是，即使美国市场谨慎，人们对比特币的乐观情绪依然存在，尤其是渣打银行的预测：在美国大选前，比特币价格达到 10 万美元将是一个惊喜。

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

通过我们的“阅读赚钱”计划最大化您的 Cointribune 体验！对于您阅读的每一篇文章，均可赚取积分并获得独家奖励。立即注册并开始赚取福利。

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

区块链和加密革命正在进行中！当世界上最脆弱的经济体感受到影响的那一天，尽管万般希望，我会说我与它有关