比特幣 BTC/USD 作為價值儲存手段已經死了嗎？專家參與

主要加密貨幣反映了本週股市的下跌，晴雨表比特幣 BTC/USD 暴跌至 2 月以來的最低點。

Bitcoin price slid to lows not seen since February, as concerns mounted over the cryptocurrency’s narrative as a store of value.

由於人們對加密貨幣作為價值儲存手段的擔憂日益加劇，比特幣價格跌至 2 月以來的最低點。

The flagship digital asset dropped over 16% on Monday, as barometer stock indices also took a hit.

由於晴雨表股票指數也受到打擊，這一旗艦數位資產週一下跌超過 16%。

However, gold, the traditional safe-haven asset, fell a mere 1.1% during the session.

然而，傳統避險資產黃金盤中僅下跌1.1%。

Benzinga spoke to experts about whether Bitcoin’s integration with traditional markets is closer than ever, rendering it less of an outlier.

本辛加與專家討論了比特幣與傳統市場的融合是否比以往任何時候都更加緊密，使其不再是異常值。

Anyone Believing Bitcoin’s Store Of Value Theory Is Delusional

任何相信比特幣價值存儲理論的人都是妄想

Robert R. Johnson, Professor of Finance, Heider College of Business, Creighton University, said he doesn’t see an increased coupling (between Bitcoin and stocks).

克賴頓大學海德商學院金融學教授羅伯特·R·約翰遜表示，他認為（比特幣和股票之間）的耦合性不會增加。

"I see Bitcoin trading as an extremely speculative supposed asset. Volatility is a part of any market, and these moves are not out of the ordinary,” said Johnson.

「我認為比特幣交易是一種極具投機性的假定資產。波動性是任何市場的一部分，這些舉動並不罕見，」約翰遜說。

However, the finance professor had strong words for those arguing that the cryptocurrency is an inflation hedge or a store of value.

然而，這位金融學教授對那些認為加密貨幣是通膨對沖或價值儲存手段的人發表了強硬的言論。

"Bitcoin is a nascent asset. Anyone who believed it to be either an inflation hedge or a store of value is delusional. It is an extreme-risk asset — pure and simple. The comparisons to gold are ludicrous."

“比特幣是一種新興資產。任何認為它是通膨對沖工具或價值儲存手段的人都是妄想。它是一種極端風險資產——純粹而簡單。與黃金的比較是荒謬的。”

Cryptos More Correlated To Each Other Than Equities

加密貨幣之間的相關性比股票更相關

According to Chris Martin, Head of Research at Amberdata, a cryptocurrency data analytics firm that supports financial institutions like Citi, Nasdaq, and Franklin Templeton, we’re seeing a global unwinding amid several macro factors.

Amberdata 是一家為花旗、納斯達克和富蘭克林鄧普頓等金融機構提供支援的加密貨幣數據分析公司，其研究主管Chris Martin 表示，在多個宏觀因素的影響下，我們看到了全球經濟的放緩。

"Crypto’s crash is being affected far more by large liquidations. We’re seeing a sell-off in crypto en masse, and bitcoin is being hit hard, but so are other coins like Solana and BNB,” said Martin.

「加密貨幣崩盤受到大規模清算的影響要大得多。我們看到加密貨幣出現大規模拋售，比特幣受到重創，但 Solana 和 BNB 等其他貨幣也受到重創，」Martin 表示。

"If we were to look at the daily price movements for the past week, cryptocurrencies are more correlated to each other than they are to equities."

“如果我們觀察過去一周的每日價格走勢，就會發現加密貨幣之間的相關性比它們與股票的相關性更強。”

Hence, Martin believes the narrative of Bitcoin being an inflation hedge still stands.

因此，馬丁認為比特幣作為通膨對沖工具的說法仍然成立。

Bitcoin’s Footprint In TradFi Expanding Rapidly

比特幣在 TradFi 的足跡迅速擴大

Daniel Cawrey, Chief Strategy Officer at Tonkeeper, and author of the books "Mastering Blockchain" and "Understanding Crypto," said it has become "tough" to call Bitcoin an outlier in 2024.

Tonkeeper 首席策略長、《掌握區塊鏈》和《理解加密貨幣》一書的作者 Daniel Cawrey 表示，到 2024 年，稱比特幣為異常值已經變得「困難」。

"We’ve seen King Crypto’s footprints expand in TradFi through exchange-traded funds, a development that’s hard to ignore,” said Cawrey.

「我們已經看到 King Crypto 透過交易所交易基金在 TradFi 中擴大了足跡，這是一個難以忽視的發展，」Cawrey 說。

"The high AUM and daily volumes from the top ETFs created traditional finance liquidity in the market for bitcoin – so it’s easier to hit that sell button and get a good price for BTC now than ever before."

「頂級 ETF 的高資產管理規模和每日交易量為比特幣市場創造了傳統金融流動性，因此現在比以往任何時候都更容易按下賣出按鈕並獲得 BTC 的好價格。”

According to Cawrey, Bitcoin is most definitely a bellwether for crypto, yet it is ultimately beholden to traditional markets now.

考裡認為，比特幣絕對是加密貨幣的領頭羊，但它現在最終還是依賴傳統市場。

Perspectives hold significance, but it's crucial to remember that capital markets, especially cryptocurrencies, can experience rapid shifts.

觀點固然重要，但重要的是要記住，資本市場，尤其是加密貨幣，可能會經歷快速變化。

Price Action: At the time of writing, Bitcoin was trading at $56,869.46, up 2% in the last 24 hours, according to data from Benzinga Pro.

價格走勢：根據 Benzinga Pro 的數據，截至撰寫本文時，比特幣交易價格為 56,869.46 美元，在過去 24 小時內上漲了 2%。