比特幣價格再次突破 10 萬美元大關

經過數週的波動後，週一比特幣價格自 12 月 19 日以來首次突破 10 萬美元。

Bitcoin prices rose above the $100,000 price level on Monday for the first time since Dec. 19, following several weeks of volatility.

經過幾週的波動後，週一比特幣價格自 12 月 19 日以來首次突破 10 萬美元。

In the weeks following the U.S. presidential election, bitcoin gained more than 50%, hitting an all-time high of around $108,000 in mid-December, amid investor optimism that the incoming Trump administration will adopt policies that support the cryptocurrency market. The rally stalled during the holiday season, with bitcoin falling to around $92,000.

在美國總統大選後的幾週內，由於投資者對即將上任的川普政府將採取支持加密貨幣市場的政策持樂觀態度，比特幣上漲了50% 以上，在12 月中旬創下了108,000 美元左右的歷史新高。假期期間，漲勢陷入停滯，比特幣跌至 92,000 美元左右。

The digital currency was trading at around $102,000 early Monday afternoon, up from an intraday low of around $98,000, with little in the way of news to spark the turnaround.

週一下午早些時候，該數位貨幣的交易價格約為 102,000 美元，高於盤中低點 98,000 美元左右，幾乎沒有什麼消息可以引發這種轉變。

Bitcoin Prices Rose Again On Monday, But Why?

週一比特幣價格再次上漲，但為什麼呢？

One possible factor to consider is a reversal in flows for spot bitcoin exchange-traded funds (ETFs). After struggling with multiple days of significant outflows, spot bitcoin ETFs recorded inflows of $908.1 million on Friday, according to data from Farside Investors. Starting Dec. 19, just a few days after bitcoin surpassed $108,000, spot bitcoin ETFs have seen roughly $1.9 billion in outflows.

一個可能需要考慮的因素是現貨比特幣交易所交易基金（ETF）的流量逆轉。 Farside Investors 的數據顯示，在經歷多日的大幅資金流出後，現貨比特幣 ETF 週五錄得 9.081 億美元的流入。從 12 月 19 日開始，就在比特幣突破 108,000 美元幾天后，現貨比特幣 ETF 資金流出約 19 億美元。

When investors pull money out of these products, the ETFs sell bitcoin and that supply pushes down bitcoin prices. Conversely, when investors put money into spot bitcoin ETFs, these products buy bitcoin and that demand pushes up bitcoin prices. Massive demand from spot bitcoin ETFs drove the rally in bitcoin prices early last year, and could be doing so again.

當投資者從這些產品撤資時，ETF 就會出售比特幣，而供應量就會壓低比特幣價格。相反，當投資者將資金投入現貨比特幣 ETF 時，這些產品會購買比特幣，這種需求會推高比特幣價格。去年年初，現貨比特幣 ETF 的巨大需求推動了比特幣價格的上漲，並且可能會再次出現這種情況。

"I would have predicted a rough patch for the [bitcoin] ETFs given the drop below $100k (overdue for a breather) but no, they roared back with nearly $1b Friday, which lifted the 1W to positive net," Bloomberg ETF analyst Eric Balchunas noted on Twitter.

彭博ETF 分析師表示：「鑑於比特幣跌破10 萬美元（早該喘口氣了），我原本預計比特幣ETF 會出現一段艱難的時期，但事實並非如此，它們週五以近10 億美元的價格強勢回歸，這將1W 提升至正淨值」埃里克·巴爾丘納斯 (Eric Balchunas) 在推特上指出。

Also worth noting: MicroStrategy (MSTR) bought more bitcoin for a ninth consecutive week, though at $101 million this most recent purchase is less than what had been seen in previous weeks. That alone couldn't have prompted such a big reaction in bitcoin's price, even if MicroStrategy is considered a bitcoin proxy.

另外值得注意的是：MicroStrategy (MSTR) 連續第九週購買了更多比特幣，儘管最近購買的比特幣數量為 1.01 億美元，低於前幾週的水平。即使 MicroStrategy 被視為比特幣代理，僅此一點也不可能引起比特幣價格如此大的反應。