比特幣（BTC）市場顯示出重新活力，推向94,000美元

加密貨幣市場最近顯示出重新發揮的活力，比特幣將其推向94,000美元。

The cryptocurrency market displayed renewed vigor recently, with Bitcoin pushing towards $94,000, although the rally encountered some friction Wednesday following cautious remarks from US Treasury Secretary Scott Bessent regarding the timeline for a US-China trade deal.

加密貨幣市場最近表現出了新的活力，比特幣朝94,000美元推向了94,000美元，儘管在美國財政部長Scott Bessent對美國 - 中國貿易交易的時間表的謹慎言論之後，週三拉力賽遇到了一些摩擦。

Despite this, strong institutional inflows and a potential divergence from traditional risk assets are fueling speculation about Bitcoin’s next major move.

儘管如此，大量的機構流入和與傳統風險資產的潛在差異促使人們人們對比特幣的下一個重大行動進行了猜測。

Bitcoin (BTC) rose 2.6% over 24 hours and 12.2% over seven days, reaching levels last seen in early March, trading at around $93,600.

比特幣（BTC）在24小時內增長了2.6％，在7天內增長了12.2％，在3月初出現的水平達到了93,600美元左右。

As Bitcoin led the way, broader crypto strength was evident. The CoinDesk 20 index, which tracks top digital assets (excluding stablecoins, memecoins, and exchange tokens), advanced 4.2% over 24 hours.

隨著比特幣領導的路，更廣泛的加密強度顯而易見。 Coindesk 20指數在24小時內跟踪頂級數字資產（不包括Stablecoins，Memecoins和Exchange代幣）4.2％。

Altcoins like Sui (SUI) saw an impressive 24% gain, while Cardano (ADA) and Chainlink (LINK) also moved up around 7%.

SUI（SUI）之類的AltCoins獲得了令人印象深刻的24％增長，而Cardano（ADA）和Chainlink（Link）也增加了7％的增長。

Crypto-related equities, after a strong start, saw gains moderate throughout the day. Mining firms Bitdeer (BTDR) and Core Scientific (CORZ) pared back double-digit advances to close up roughly 4%, while Coinbase (COIN) and MicroStrategy (MSTR) finished with gains of 2.1% and 1.4%, respectively.

與加密相關的股票進行了強勁的開端后，整天的增長中等。採礦公司比特（BTDR）和核心科學（CORZ）削減了兩位數的進步，大約關閉了4％，而Coinbase（Coin）和MicroStrategy（MSTR）分別以2.1％和1.4％的收入達到了增長。

The backdrop for this rally included seemingly conflicting signals on the trade front. Earlier in the week, President Donald Trump suggested tariffs on China would “come down substantially” post-deal.

這次集會的背景包括在貿易方面看似矛盾的信號。在本週早些時候，唐納德·特朗普總統建議對中國的關稅“大幅下降”後交易。

However, Secretary Bessent tempered expectations on Wednesday, stating no unilateral offer to cut tariffs had been made and predicting a full resolution would likely take “two to three years to achieve.”

但是，秘書在周三的臨時脾氣暴躁的期望中表示，沒有提出單方面的削減關稅提議，預測全面決議可能需要“兩到三年才能實現”。

Decoupling debate: Bitcoin mirrors gold amid uncertainty?

脫鉤辯論：不確定性的比特幣反映了金色？

This persistent trade uncertainty, paradoxically, might be contributing to Bitcoin’s strength relative to traditional markets. Some analysts believe the market may be moving past the initial shock of tariff threats.

矛盾的是，這種持續的貿易不確定性可能導致比特幣相對於傳統市場的實力。一些分析師認為，市場可能會超越關稅威脅的最初衝擊。

“Markets priced in the initial tough stances and tariff threats, which kept a lid on risk appetite over the past two months,” Paul Howard, director at crypto trading firm Wincent, told CoinDesk.

加密貨幣貿易公司Wincent的董事保羅·霍華德（Paul Howard）告訴Coindesk：“市場以最初的艱難立場和關稅威脅的價格定價，這在過去兩個月中保持了風險胃口。”

“History suggests that once the opening volleys pass, more constructive developments and easing volatility typically follow,” he added, suggesting this environment could ultimately support risk assets like crypto.

他補充說：“歷史表明，一旦開放量瓦爾利斯通過，通常會更具建設性的發展和放鬆的波動性。”

The narrative of Bitcoin acting as “digital gold” – a hedge against macroeconomic uncertainty and potential currency debasement – appears to be gaining traction.

比特幣充當“數字黃金”的敘述 - 對宏觀經濟不確定性和潛在的貨幣貶值的對沖 - 似乎正在引起關注。

Institutional conviction: ETF flows surge past $1 billion this week

機構定罪：ETF流量激增本週超過10億美元

Underscoring the renewed interest, particularly from larger players, has been the significant turnaround in flows for US-listed spot Bitcoin ETFs.

強調了新的興趣，尤其是來自較大球員的興趣，一直是美國上市比特幣ETF的重要轉變。

According to SoSoValue data, these funds have attracted nearly $1.3 billion in net inflows over the past four days, marking their strongest daily inflow on Tuesday since mid-January.

根據Sosovalue數據，這些資金在過去四天中吸引了近13億美元的淨流入，這標誌著自1月中旬以來週二的每日流入最強。

“This [crypto] rally isn’t retail-driven hype—it’s institutional capital positioning ahead of what many see as a new monetary and political regime,” asserted Matt Mena, crypto research strategist at digital asset manager 21Shares.

數字資產經理21Shares的加密研究策略師Matt Mena表示：“這種[加密]集會不是零售驅動的炒作，它的機構資本定位比許多人認為是新的貨幣和政治制度。”

“More investors are turning to it not just as a speculative asset, but as a flight to safety amid rising uncertainty across traditional markets.”

“越來越多的投資者不僅將其作為投機性資產，而且是在傳統市場不確定性上升的情況下飛往安全的。”

Gold pauses, bitcoin poised? Historical patterns eyed

暫停金，比特幣準備好了嗎？歷史模式註視著

Adding another layer to the bullish case is the recent performance of traditional gold.

在看漲案件中增加了另一層是傳統黃金的最新表現。

After a remarkable run that saw it surge 35% over four months to breach $3,500 per ounce, gold prices pulled back Wednesday, down roughly 2.5%.

經過四個月的出色表現，它在四個月內激增了35％，違反了每盎司3,500美元的違反，金價在周三撤回，下降了約2.5％。

Some analysts interpret this stalling action in gold, following its massive rally, as potentially bullish for Bitcoin.

一些分析師在大規模集會之後將這種停滯的行動解釋為對比特幣的看漲。

Charles Edwards, founder of Capriole Investments, highlighted this dynamic. Posting a chart on X (formerly Twitter), he noted that historically, Bitcoin’s major upward moves have often followed significant gold rallies, albeit with a lag of a few months.

Capriole Investments的創始人查爾斯·愛德華茲（Charles Edwards）強調了這種動態。他在X（以前稱為Twitter）上發布了圖表，他指出，從歷史上看，比特幣的主要向上動作經常跟隨大量的金色集會，儘管滯後了幾個月。

“Bitcoin is showing significant strength,” Edwards stated.

愛德華茲說：“比特幣表現出明顯的力量。”

“We have decoupled from risk assets and the market is now starting to front-run the fact that bitcoin is digital gold. If risk assets were to decay further from here, BTC is the ultimate QE hedge.”

“我們已經脫離了風險資產，現在市場開始邁出了比特幣是數字黃金的事實。如果風險資產從這裡進一步衰減，BTC是終極的量化寬鬆對沖。”

Eyes on $95K: resistance looms despite bullish momentum

$ 95K的眼睛：儘管看漲勢頭

Despite the strong price action and positive indicators, technical hurdles remain.

儘管價格有很強的行動和積極的指標，但仍有技術障礙。

Matt Mena from 21Shares cautioned that Bitcoin faces near-term resistance at the critical $95,000 level. He suggested a potential pullback could occur from this zone.

來自21shares的Matt Mena警告說，比特幣面對近期抵抗的$ 95,000水平。他建議可能從該區域發生潛在的回調。

Successfully clearing $95,000 is seen by many traders as key to unlocking further significant upside potential.

許多交易者將成功清算95,000美元視為釋放進一步的重大上升潛力的關鍵。

The combination of renewed institutional demand, the “digital gold” narrative gaining traction as traditional gold stalls, and supportive historical patterns suggests Bitcoin may be gearing up for its next major leg higher, with the $95,000 level serving as the immediate gateway.

更新的機構需求，“數字黃金”的敘述作為傳統的黃金攤位獲得了吸引力，以及支持性的歷史模式表明，比特幣可能正在為下一個主要的腿部較高而準備，而95,000美元的水平將作為即時的門戶。