由於獲利回吐減緩反彈，比特幣 (BTCUSD) 跌破 10 萬美元

事實證明，「比特幣 10 萬美元」的價格里程碑是難以捉摸的。一些分析師指責，隨著公司繼續購買加密資產，不安的投資人紛紛獲利了結。

Bitcoin (BTCUSD) prices soared to an all-time high of over $99,500 on Friday, leaving many to anticipate the next milestone: BTC at $100,000.

週五，比特幣 (BTCUSD) 價格飆升至 99,500 美元以上的歷史新高，讓許多人期待下一個里程碑：BTC 達到 100,000 美元。

However, the world's largest cryptocurrency was trading at around $92,000 on Monday evening, still far from the six-figure mark.

然而，週一晚間，全球最大的加密貨幣交易價格約為 92,000 美元，距離六位數大關還很遠。

So what happened? And what's next for bitcoin prices?

那麼發生了什麼事？比特幣價格接下來會怎麼樣？

Bitcoin's rally gained steam after Donald Trump's electoral victory, with optimism regarding a more crypto-friendly administration and Congress that could pave the way for regulatory clarity the crypto-industry has been seeking.

唐納德·川普贏得選舉後，比特幣的上漲勢頭增強，人們對加密貨幣更加友好的政府和國會持樂觀態度，這可能為加密行業一直尋求的監管清晰度鋪平道路。

That rally has slowed recently, though. Some analysts say that is likely a result of profit-taking by relatively new investors into the asset, with longer-term investors continuing to hold on to their bitcoin.

不過，這種反彈最近有所放緩。一些分析師表示，這可能是相對較新的投資者獲利了結的結果，而長期投資者則繼續持有比特幣。

Most of the selling "is coming from 2024 buyers who bought above 56k," Galaxy Digital CEO Mike Novogratz said in an X post Sunday, citing Galaxy's research. "Normal profit taking.

Galaxy Digital 執行長 Mike Novogratz 在周日的 X 貼文中引用 Galaxy 的研究表示，大部分銷售「來自 2024 年購買量超過 5.6 萬美元的買家」。 「正常獲利了結。

Galaxy is planning to launch a bitcoin ETF, pending regulatory approval.

Galaxy 計劃推出比特幣 ETF，正在等待監管部門的批准。

Bitcoin analyst James Check said those who purchased bitcoin around $68,000 six weeks ago are responsible for a large amount of the selling pressure this month.

比特幣分析師 James Check 表示，那些在六週前以 68,000 美元左右購買比特幣的人對本月的拋售壓力負有很大責任。

Strong selling was also seen in bitcoin exchange-traded funds (ETFs) on Monday, as the category had its third-largest day of outflows on record at $435.3 million, according to Farside Investors.

據 Farside Investors 稱，週一比特幣交易所交易基金 (ETF) 也出現強勁拋售，該類別的資金流出量創歷史第三高，達 4.353 億美元。

This follows the large inflows that were seen in these products since Election Day. (BlackRock's iShares Bitcoin Trust (IBIT) saw $267.8 million of inflows on Monday, despite the net outflows for the category as a whole.)

自選舉日以來，這些產品出現了大量資金流入。 （貝萊德旗下 iShares 比特幣信託 (IBIT) 週一的資金流入為 2.678 億美元，儘管該類別整體出現淨流出。）

Bitcoin ETFs hold bitcoin and they needed to purchase it as more investors poured money into these products. That's why spot bitcoin ETFs were partially responsible for the cryptocurrency's rise this year.

比特幣 ETF 持有比特幣，隨著越來越多的投資者將資金投入這些產品，他們需要購買比特幣。這就是為什麼現貨比特幣 ETF 對今年加密貨幣的上漲負有部分責任。

While bitcoin prices are still up year to date, the recent weakness comes at a time when more companies are purchasing bitcoin.

儘管比特幣價格今年迄今仍在上漲，但最近的疲軟是在越來越多的公司購買比特幣之際發生的。

MicroStrategy (MSTR) announced the purchase of another $5.4 billion worth of bitcoin on Monday morning. Companies such as Marathon Digital (MARA), Semler Scientific (SMLR) and Rumble (RUM) have also committed to purchasing bitcoin.

MicroStrategy (MSTR) 週一上午宣布再購買價值 54 億美元的比特幣。 Marathon Digital (MARA)、Semler Scientific (SMLR) 和 Rumble (RUM) 等公司也承諾購買比特幣。

If that trend continues it could bolster bitcoin prices, according to Coinbase Research.

Coinbase Research 表示，如果這種趨勢持續下去，可能會提振比特幣價格。

"We think that these corporate inflows represent an increasingly important source of capital inflow into the space as corporate purchase plans that we think may be relatively more price inelastic," Coinbase researchers wrote in recent commentary. "This could contribute to continued market momentum in the near term."

Coinbase 研究人員在最近的評論中寫道：“我們認為，這些企業的流入代表了該領域日益重要的資本流入來源，因為我們認為企業購買計劃的價格可能相對更具彈性。” “這可能有助於短期內持續的市場動力。”