比特币 (BTC) 现货 ETF 需求飙升至历史新高，专家预测 10 万美元只是开始

在候任总统唐纳德·特朗普领导下的日益友好的监管环境的推动下，比特币现货 ETF 的总资产净值首次达到 1074.88 亿美元，连续五天出现正流入。

Demand for spot Bitcoin exchange-traded funds hit its highest levels since their launch, with a total of $3.38 billion flowing into the funds this week. This marks a significant increase from the previous week's inflows of $490.35 million.

对现货比特币交易所交易基金的需求达到自推出以来的最高水平，本周共有 33.8 亿美元流入该基金。这标志着较前一周 4.9035 亿美元的流入量大幅增加。

The inflows come amid anticipation of an improving regulatory environment for cryptocurrencies under President-elect Donald Trump and heightened optimism among traders as Bitcoin edges closer to hitting the highly anticipated six-figure price mark.

资金流入的背景是，人们预计当选总统唐纳德·特朗普将改善加密货币的监管环境，并且随着比特币接近达到备受期待的六位数价格大关，交易员的乐观情绪也随之增强。

According to data from SoSoValue, the total net asset value of Bitcoin spot ETFs reached $107.488 billion for the first time. The highest inflows for the week were recorded on Nov. 21, with $1 billion flowing in — coinciding with the announcement of anti-crypto SEC Chair Gary Gensler's departure on Nov. 20.

SoSoValue数据显示，比特币现货ETF总资产净值首次达到1074.88亿美元。 11 月 21 日创下本周资金流入最高记录，流入金额达 10 亿美元，恰逢反加密货币 SEC 主席加里·根斯勒 (Gary Gensler) 于 11 月 20 日宣布离职。

Bitcoin rallied to a new all-time high of $99,800 less than a day after the news, but it failed to breach the highly anticipated $100,000 mark as inflows into the 12 spot BTC ETF offerings dipped to $490.35M on Friday, according to SoSoValue data.

SoSoValue 数据显示，消息传出后不到一天，比特币就上涨至 99,800 美元的历史新高，但未能突破备受期待的 100,000 美元大关，因为周五 12 只现货 BTC ETF 产品的资金流入降至 4.9035 亿美元。

However, the inflows managed to hit an all-time high of $3.38 billion. BlackRock’s IBIT led the day's activity with $513.2 million, as only half of the twelve funds managed to draw in capital.

然而，资金流入却创下了33.8亿美元的历史新高。贝莱德 (BlackRock) 的 IBIT 以 5.132 亿美元领跑当天的活动，因为 12 只基金中只有一半能够筹集资金。

Inflows into other funds were as follows:

流入其他基金的情况如下：

Grayscale’s GBTC, which has the highest fees among the lot, was the only offering to record outflows of $67.05 million. The remaining funds saw no flows.

Grayscale 的 GBTC 是同类产品中费用最高的，也是唯一一个流出额达到 6705 万美元的产品。其余资金未见流动。

Despite the late-week dip in inflows, market pundits believe the overall demand for ETF products remains strong. Kadan Stadelmann, an early Bitcoin investor and chief technology officer at Komodo, attributes the recent upsurge in demand to the “supply shock” leading up to the 2024 Bitcoin halving and heightened “geopolitical uncertainties” that bolster demand for Bitcoin as a hedge.

尽管本周末资金流入有所下降，但市场专家认为 ETF 产品的整体需求仍然强劲。比特币早期投资者兼 Komodo 首席技术官 Kadan Stadelmann 将近期需求激增归因于导致 2024 年比特币减半的“供应冲击”以及“地缘政治不确定性”的加剧，从而提振了对比特币作为对冲工具的需求。

This momentum is expected to catapult even higher after BTC breaks past $100,000, with TYMIO founder Georgii Verbitskii telling crypto.news that the milestone is likely to draw “renewed attention from mainstream media and traders alike.”

在 BTC 突破 100,000 美元之后，这种势头预计将进一步增强，TYMIO 创始人 Georgii Verbitskii 告诉 crypto.news，这一里程碑可能会吸引“主流媒体和交易员的重新关注”。

As of press time, Bitcoin was trading at $99,840, just 1.47% away from hitting six figures. Some market analysts predict that the milestone could be achieved well before 2024 ends.

截至发稿，比特币交易价格为 99,840 美元，距离触及六位数仅 1.47%。一些市场分析师预测，这一里程碑可能会在 2024 年底之前实现。

Meanwhile, analysts like VanEck's Nathan Frankovitz and Matthew Sigel predict that prices could soar to $180,000 within the next 18 months, aligning with experts at Bernstein Research who recently raised their 2025 year-end target for BTC from $150,000 to $200,000.

与此同时，VanEck 的 Nathan Frankovitz 和 Matthew Sigel 等分析师预测，未来 18 个月内价格可能飙升至 18 万美元，这与 Bernstein Research 的专家一致，他们最近将 BTC 的 2025 年年底目标从 15 万美元提高到 20 万美元。

In a recent report, Frankovitz and Sigel noted that BTC's current rally mirrors “the pattern from four years ago,” where Bitcoin doubled between the 2020 election and year-end, followed by an “additional ~137% gain in 2021.”

Frankovitz 和 Sigel 在最近的一份报告中指出，比特币当前的上涨反映了“四年前的模式”，即比特币在 2020 年大选和年底之间翻了一番，随后“在 2021 年额外上涨了约 137%”。

They added that the “next phase of the bull market is just beginning with no technical price resistance in sight.”

他们补充说，“牛市的下一阶段才刚刚开始，看不到技术价格阻力。”

“With a transformative shift in government support for Bitcoin underway, investor interest is rising rapidly; we are receiving inbound calls at an accelerating pace as many investors find themselves under-allocated to the asset class. While we remain vigilant for signs of overheating, we reiterate our cycle price target of $180k per BTC as a number of key indicators we track continue to signal green for this rally.”

“随着政府对比特币支持的变革性转变正在进行，投资者的兴趣正在迅速上升；由于许多投资者发现自己对该资产类别的配置不足，我们收到的来电数量正在加快。虽然我们对过热迹象保持警惕，但我们重申每 BTC 18 万美元的周期价格目标，因为我们跟踪的许多关键指标继续为这次反弹发出绿色信号。”

On X, analyst Ali Martinez offered a similar perspective, drawing parallels to previous cycles. He suggested that Bitcoin could climb to $108,000 in the coming weeks and rally to $135,000 by year-end. See below.

在 X 上，分析师阿里·马丁内斯 (Ali Martinez) 提出了类似的观点，与之前的周期进行了比较。他表示，比特币可能在未来几周内攀升至 108,000 美元，并在年底前升至 135,000 美元。见下文。