隨著機構加入，比特幣多頭反擊，目標為 10 萬美元

多種因素共同推動需求激增，比特幣市場呈現看漲動能。倫敦證券交易所宣布 5 月推出比特幣和以太坊交易，這為機構投資開闢了途徑，而私人銀行和基金經理分配的客戶詢盤激增則表明興趣不斷上升。有利的即期遠期基礎和累積策略為投資者提供了一個有吸引力的切入點，進一步支撐了漲勢。在波動性加劇的情況下，比特幣透過與傳統相關性脫鉤而表現出彈性，這表明支撐其近期漲幅的結構性力量正在轉向更強大的力量。

Bitcoin Bulls Reignite Rally, Eyeing $100,000 as Institutions Enter the Fray

隨著機構加入競爭，比特幣多頭重新點燃反彈，瞄準 10 萬美元

After a month of erratic price swings, the bulls are regaining control of the Bitcoin market, rekindling hopes of the cryptocurrency soaring past its previous all-time high and reaching the coveted $100,000 mark.

經過一個月不穩定的價格波動後，多頭正在重新控制比特幣市場，重新點燃了加密貨幣飆升至歷史新高並達到令人垂涎的 10 萬美元大關的希望。

Catalysts for the Resurgence

復興的催化劑

The latest upswing is attributed to several key drivers, primarily the groundbreaking announcement by the London Stock Exchange of its intention to launch Bitcoin and Ethereum exchange-traded notes (ETNs) in May. This move has shattered barriers and paved the way for institutional investors to participate in the cryptocurrency market through regulated channels.

最新的上漲歸因於幾個關鍵驅動因素，主要是倫敦證券交易所突破性宣布打算在 5 月推出比特幣和以太坊交易所交易票據 (ETN)。此舉打破了壁壘，為機構投資者透過受監管的管道參與加密貨幣市場鋪平了道路。

Surge in Institutional Demand

機構需求激增

The demand for Bitcoin is surging at exclusive private banks. Wealth advisors have been inundated with inquiries from clients eager to invest in BTC, ranging from direct spot purchases to advanced financial products like accumulators and forwards. Fund managers are also allocating funds to crypto, attracted by Bitcoin's perceived diversification benefits.

高端私人銀行對比特幣的需求正在激增。財富顧問已經被渴望投資比特幣的客戶淹沒，諮詢範圍從直接現貨購買到累加器和遠期等先進金融產品。受比特幣多元化優勢的吸引，基金經理人也將資金分配給加密貨幣。

Trading Strategies

交易策略

Within the trading community, investors are pursuing opportunities to capitalize on the rally. The elevated Bitcoin spot-forward basis, with yields hovering above 20%, offers an attractive entry point. Meanwhile, the use of accumulators, which enable investors to buy Bitcoin at a discount while capturing the influx of institutional interest, is emerging as a strategic play.

在交易界，投資人正在尋找利用反彈的機會。比特幣現貨遠期基礎較高，殖利率徘徊在 20% 以上，提供了一個有吸引力的切入點。同時，累積器的使用正在成為一種戰略策略，它使投資者能夠以折扣價購買比特幣，同時吸引機構利益的湧入。

Decoupling from Traditional Correlations

與傳統相關性脫鉤

Despite Bitcoin's volatility, particularly during U.S. trading hours, the digital asset has surprisingly shrugged off rising real yields in excess of 2%. This divergence from historical correlations suggests that Bitcoin's remarkable 50% year-to-date gains are rooted in more structural factors, namely, the growing institutional adoption and resulting capital inflows.

儘管比特幣波動很大，尤其是在美國交易時段，但這種數位資產卻出乎意料地擺脫了超過 2% 的實際收益率上漲的影響。這種與歷史相關性的背離表明，比特幣今年迄今為止 50% 的驚人漲幅源於更多的結構性因素，即不斷增長的機構採用和由此產生的資本流入。

Sustaining the Rally

維持集會

As the market evolves from speculative fervor to more rational investment strategies, the focus turns to Bitcoin's ability to sustain its upward trajectory. If Bitcoin can break through previous highs, it could reignite the bull market, culminating in six-figure valuations and rekindling the "fear of missing out" narrative that has historically fueled crypto's growth.

隨著市場從投機熱情轉向更理性的投資策略，焦點轉向比特幣維持其上升軌跡的能力。如果比特幣能夠突破先前的高點，它可能會重新點燃牛市，最終達到六位數的估值，並重新點燃歷史上推動加密貨幣成長的「害怕錯過」的說法。

Conclusion

結論

The resurgence of Bitcoin, driven by the entry of institutional players, presents a compelling opportunity for investors seeking diversification and potential upside. However, it remains to be seen whether Bitcoin can maintain its momentum and break through its previous all-time high. The market will continue to closely monitor the cryptocurrency's performance as it navigates a transformed landscape characterized by growing institutionalization and evolving trading dynamics.

在機構參與者的進入推動下，比特幣的復甦為尋求多元化和潛在上漲空間的投資者提供了絕佳的機會。不過，比特幣能否保持勢頭並突破先前的歷史高點還有待觀察。市場將繼續密切關注加密貨幣的表現，因為它正在經歷一個以日益制度化和不斷變化的交易動態為特徵的變革格局。