Grayscale推出比特币采用者ETF（BCOR），向拥有大量BTC持有的公司提供接触

Grayscale Investments已推出了其比特币采用者ETF（BCOR），为拥有大量BTC持有的公司提供了股票市场，而GlassNode的分析表明，比特币正在从其最近的更正阶段过渡。

Grayscale’s latest product is the Bitcoin Adopters ETF (BCOR), an ETF that will provide equity market exposure to firms that have applied a treasury reserve strategy with substantial BTC holdings, beginning with at least 100 BTC.

Grayscale的最新产品是比特币采用者ETF（BCOR），ETF将向已采用大量BTC持有的财政储备战略的公司提供股票市场的敞口，从至少100 BTC开始。

The ETF is linked to the Indxx Bitcoin Adopters Index, which includes over 33 companies from 15 sectors, all boasting market capitalizations exceeding $100 million and collectively holding over 170,000 BTC at the last reporting period.

ETF与Indxx比特币采用者指数相关联，其中包括来自15个行业的33多家公司，所有的市值超过1亿美元，并在上一个报告期间共同持有170,000多个BTC。

These companies are engaged in varied industries, spanning technology, energy, and consumer staples, among others. The commonality among them is their integration of Bitcoin into their treasury reserves.

这些公司从事各种行业，跨越技术，能源和消费者的主食等。他们之间的共同点是将比特币整合到财政部储备中。

As more companies incorporate Bitcoin into their balance sheets, BCOR offers a forward-looking strategy to capture this momentum through traditional equity markets,” said David LaValle, Global Head of ETFs at Grayscale.

随着越来越多的公司将比特币纳入资产负债表中，BCOR提供了一种前瞻性的策略，可以通过传统的股票市场来捕捉这一势头。

Grayscale is venturing into a space where Bitwise has already launched its ETF focused on firms with Bitcoin on their balance sheet. However, the arrival of BCOR could further introduce Bitcoin to equity-focused investors who might not otherwise have engaged with the cryptocurrency market.

Grayscale正在冒险进入一个空间，在该空间中，Bitwise已经将其ETF推向了使用比特币上的公司的ETF。但是，BCOR的到来可能会进一步将比特币引入以股权为中心的投资者，这些投资者可能不会与加密货币市场互动。

Glassnode: BTC in Structural Reset, Not Bear Market Territory

玻璃节：结构重置中的BTC，不占据市场领域

According to a recent analysis by Glassnode, Bitcoin’s recent drawdown should not be viewed as a full-fledged bear market but rather as a natural transition out of the recent parabolic correction phase.

根据GlassNode最近的分析，比特币最近的缩水不应被视为成熟的熊市，而应视为从最近的抛物线校正阶段出现的自然过渡。

This analysis focuses on key observations:

该分析的重点是关键观察：

After a year-long consolidation in a $40k–$50k range, Bitcoin finally broke out, quickly rising above $95k. This breakout follows a period of minimal investor stress, evident in the MVRV Ratio, Percent Supply in Profit, and SOPR.

经过一年的合并为4万美元 - $ 50K范围，比特币终于爆发了，迅速上涨了95,000美元以上。这一突破是在一段时间的最小投资者压力之后，在MVRV比率，利润百分比和SOPR中明显看出。

Bitcoin has recently broken above both of these levels, signaling potential for renewed bullish momentum, provided the price sustains above this range.

比特币最近在这两个水平上都打破了，只要价格持续到该范围以上，就可以提示新的看涨势头。

Moreover, metrics like the MVRV Ratio, Percent Supply in Profit, and SOPR indicate that investor stress has eased, and the majority of BTC holders are back in profit.

此外，MVRV比率，利润百分比和SOPR等指标表明投资者的压力已经缓解，大多数BTC持有人都重新获得了利润。

The MVRV recently bounced off its long-term mean (1.74), a historical support level during consolidations. A reading above 1.74 suggests that on average, investors are in profit.

MVRV最近弹起了其长期平均值（1.74），这是合并期间的历史支持水平。以上1.74的阅读表明，平均而言，投资者正在获利。

Glassnode further notes that $95k–$98k poses a critical resistance zone due to the 3.618 Fibonacci extension from the 2011–2015 bear market cycle bottom.

GlassNode进一步指出，由于2011 - 2015年熊市周期底部的3.618斐波那契延伸，$ 95K至98K构成了关键的阻力区。

A break above this zone could pave the way for a vacuum of resistance up to 4.236 Fib, which stands at $104,935.

高于该区域的突破可能为高达4.236 FIB的阻力真空铺平道路，为104,935美元。