ARK Invest 表示，比特幣 (BTC) 的每月波動“在歷史背景下並不顯著”

比特幣 (BTC) 價格在未能守住 10 萬美元以上後，在 12 月經歷了劇烈波動，但根據 ARK Invest 的說法，這種加密貨幣的走勢並沒有異常。

Bitcoin’s BTC price experienced sharp fluctuations in December after failing to hold above $100,000, but according to ARK Invest, the cryptocurrency’s movements weren’t out of the ordinary.

比特幣價格在未能守住 10 萬美元以上後，在 12 月經歷了劇烈波動，但根據 ARK Invest 的說法，這種加密貨幣的走勢並沒有異常。

ARK Invest’s “The Bitcoin Monthly” report for December compared BTC’s monthly and yearly realized volatility — a measure of how sharply an asset’s price fluctuates over a specific period. Although Bitcoin concluded Q4 with a spike in volatility, it “was not significant in historical context,” the report said.

ARK Invest 12 月的「比特幣月」報告比較了 BTC 的月度和年度實際波動率——衡量資產價格在特定時期內波動程度的指標。報告稱，儘管比特幣第四季的波動性大幅上升，但「在歷史背景下並不顯著」。

In an accompanying chart, ARK showed that Bitcoin’s monthly volatility in December was relatively low compared to its yearly volatility.

在隨附的圖表中，ARK 顯示比特幣 12 月的月度波動性與其年度波動性相比相對較低。

Bitcoin’s monthly volatility (green line) was relatively tame compared to its annual volatility (purple line) in the fourth quarter. Source: ARK Low relative volatility implies that Bitcoin hasn’t yet reached the mania phase of its cycle, which means further upward momentum is likely, especially in a bull market.

與第四季的年度波動性（紫線）相比，比特幣的月波動性（綠線）相對溫和。資料來源：ARK 較低的相對波動性意味著比特幣尚未達到其周期的狂熱階段，這意味著可能會出現進一步的上漲勢頭，尤其是在牛市中。

“Indeed, these data points suggest room for further market expansion during 2025,” ARK's report said.

ARK 的報告稱：“事實上，這些數據點表明 2025 年市場還有進一步擴張的空間。”

The report cited several other bullish indicators for Bitcoin in December, including mining difficulty, holder behavior and the short-term holder cost basis.

該報告引用了 12 月比特幣的其他幾個看漲指標，包括挖礦難度、持有者行為和短期持有者成本基礎。

On the topic of strong holder behavior, ARK's data showed that 62% of Bitcoin’s supply hasn't moved in more than a year, even as the asset recorded gains of more than 100% in 2024.

關於強勢持有者行為，ARK 的數據顯示，儘管該資產在 2024 年錄得超過 100% 的漲幅，但 62% 的比特幣供應量在一年多的時間裡並沒有改變。

Anticipation builds ahead of Trump’s inauguration

川普就職典禮前的預期不斷升溫

Bitcoin’s price blasted through $100,000 in December after the election of Donald Trump, who promised to usher in a new era in crypto for the US.

唐納德·川普 (Donald Trump) 當選後，比特幣價格在 12 月飆升至 10 萬美元，川普承諾將開創美國加密貨幣的新時代。

During his presidential campaign, Trump vowed to make America the Bitcoin and crypto capital of the world.

在總統競選期間，川普發誓要讓美國成為世界比特幣和加密貨幣之都。

Ahead of his inauguration, the president-elect selected pro-crypto Paul Atkins to head the critical Securities and Exchange Commission. A few days later, he appointed David Sacks as his top crypto and AI adviser. The crypto community largely supported the moves.

在就職典禮之前，當選總統選擇了支持加密貨幣的保羅·阿特金斯 (Paul Atkins) 擔任重要的證券交易委員會 (Securities and Exchange Commission) 的負責人。幾天后，他任命大衛·薩克斯（David Sacks）為他的首席加密貨幣和人工智慧顧問。加密貨幣社群很大程度上支持這些舉措。

Pantera Capital expects Trump's presidency to further legitimize Bitcoin and crypto, driving prices to new all-time highs in the coming months.

Pantera Capital 預計川普的總統任期將進一步使比特幣和加密貨幣合法化，在未來幾個月內將價格推至歷史新高。

According to a report by The Washington Post, Trump is expected to sign crypto-specific executive orders once he takes office on Jan. 20. These “day-one” executive orders are supposed to further clarify crypto’s priority for the upcoming administration.

根據《華盛頓郵報》報道，川普預計將在1 月20 日上任後簽署針對加密貨幣的行政命令。考慮。