比特幣突破 76,800 美元，標誌著看漲反彈的開始

比特幣作為另類金融市場的真正晴雨表，已突破 76,800 美元大關，達到了歷史性里程碑。這確實是一個驚人的數字，但根據許多分析師的說法，這只是一本有望成為暢銷書的書的第一頁。

Bitcoin price hit a historic milestone by crossing the $76,800 mark on Monday. According to several analysts, this is just the first chapter in a story that is set to become a bestseller. So what is behind this meteoric rise, and what else could propel the world’s leading cryptocurrency to new heights? Let’s take a look at the hidden forces orchestrating this bullish rally.

比特幣價格週一突破 76,800 美元大關，創下歷史性里程碑。幾位分析師表示，這只是即將成為暢銷書的故事的第一章。那麼，這種迅速崛起的背後是什麼？讓我們來看看策劃這次看漲反彈的隱藏力量。

Institutions Signal an Insatiable Appetite for Bitcoin

機構發出對比特幣永不滿足的胃口

One of the most fascinating aspects of Bitcoin’s recent rally is the way in which institutional investors, once hesitant, have become veritable locomotives of the market.

比特幣近期上漲最令人著迷的方面之一是機構投資者曾經猶豫不決，現在已成為名副其實的市場火車頭。

The numbers speak for themselves: CME’s futures trading volume exploded to reach a peak of $13.15 billion on November 6, while the nominal open interest crossed the 15,000 BTC mark.

數字不言而喻：CME 的期貨交易量在 11 月 6 日激增，達到 131.5 億美元的峰值，而名目未平倉合約突破了 15,000 BTC 大關。

One might be tempted to think that such activity is the work of frenzied speculators, but the reality is quite the opposite. These movements attest to a deep-rooted conviction that Bitcoin is much more than just a simple bet—it is a strategic leverage.

人們可能會認為這種活動是瘋狂投機者的傑作，但事實恰恰相反。這些走勢證明了一種根深蒂固的信念，即比特幣不僅僅是一種簡單的賭注——它是一種戰略槓桿。

And what is behind this sudden enthusiasm? Several factors are at play. Firstly, the growing adoption of spot Bitcoin ETFs has breathed new life into institutional portfolios.

這種突然的熱情背後是什麼？有幾個因素在起作用。首先，現貨比特幣 ETF 的日益普及為機構投資組合注入了新的活力。

Secondly, the American political landscape, which has been transformed by a red wave of pro-crypto legislators, has cleared away the uncertainty and bolstered investor confidence.

其次，支持加密貨幣的立法者的紅色浪潮改變了美國的政治格局，消除了不確定性並增強了投資者的信心。

The addition of over $1.1 billion in open interest on the same day is no mere coincidence, but rather a reflection of a carefully considered strategy.

同一天未平倉合約增加超過 11 億美元不僅僅是巧合，而是經過深思熟慮的策略的體現。

From Hopes to Technical Analysis: Bitcoin Price Target of $85,000 and Beyond

從希望到技術分析：比特幣價格目標為 85,000 美元及以上

It is no secret that crypto loves to flirt with the unpredictable. However, this time, experts largely agree that the price of Bitcoin could very well hit $82,000 to $85,000 in the near future.

加密貨幣喜歡與不可預測的事物調情，這已經不是什麼秘密了。然而，這一次，專家們基本上一致認為，比特幣的價格很可能在不久的將來達到 82,000 美元至 85,000 美元。

The Fibonacci extension tool, that precious compass for analysts, is already projecting a target of $82,367. Support levels in the $77,000 to $78,000 range are solid as a rock, and the depth of the order book reveals demand ready to swallow up the remaining supply. One could say the field is clear for new surges.

斐波那契擴展工具是分析師的寶貴指南針，已經預測目標為 82,367 美元。 77,000 美元至 78,000 美元範圍內的支撐位堅如磐石，訂單簿的深度表明需求已準備好吞噬剩餘供應。人們可以說這個領域已經準備好迎接新的浪潮。

What also distinguishes this phase of the rally is the relative stability in options. According to JJ, a derivatives expert at HighStrike, implied volatility has eased, suggesting that the market may have found its bottom.

這一階段上漲的另一個特點是選擇權的相對穩定性。 HighStrike 的衍生性商品專家 JJ 表示，隱含波動率已經放緩，顯示市場可能已經觸底。

This gives traders a favorable environment to consider buying long-term options without fearing a harsh return to seesaw-like movements. After all, the absence of chaotic shifts during the American elections was a reassuring signal, a rare moment when crypto smiled at serenity.

這為交易者提供了一個有利的環境來考慮購買長期選擇權，而不必擔心會出現劇烈的蹺蹺板走勢。畢竟，美國大選期間沒有出現混亂的變化是一個令人放心的信號，這是加密貨幣微笑著平靜的罕見時刻。

The Hidden Drivers: Geopolitics and Monetary Strategy

隱藏的驅動因素：地緣政治與貨幣策略

A factor that is often underestimated, yet plays a crucial role, is monetary policy. The Federal Reserve’s decision to cut rates by 25 basis points has been welcomed like a feast by the markets, crypto included.

貨幣政策是一個經常被低估但卻發揮著至關重要作用的因素。聯準會降息 25 個基點的決定受到了市場（包括加密貨幣市場）的歡迎。

Combine this with the rumor of a potential strategic Bitcoin reserve being created by the United States, and you have the recipe for an explosive climate—a climate where investors are not just watching Bitcoin rise: they are climbing aboard.

再加上美國可能建立比特幣戰略儲備的傳言，就會引發爆炸性的氣候——在這種氣候下，投資者不僅會關注比特幣的上漲，還會紛紛加入比特幣。

The emergence of crypto-friendly legislators and the hope for a continued relaxation of interest rates only heighten the conviction that Bitcoin has not yet revealed all its potential. The air is charged with electricity, and each new massive purchase seems to be the spark that could ignite the next great wick.

對加密貨幣友好的立法者的出現以及對利率持續放鬆的希望只會增強人們對比特幣尚未展現其全部潛力的信念。空氣中充滿了電力，每一次新的大規模購買似乎都可能點燃下一個偉大的燈芯。

Thus, Bitcoin, having braved storms and skepticism, stands on the threshold of new promises. And if history has taught us anything, it’s that when it comes to BTC, the best is often yet to come. Moreover, Ethereum is also preparing something.

因此，比特幣勇敢面對風暴和懷疑，站在了新承諾的門檻上。如果說歷史教會了我們什麼的話，那就是對比特幣來說，最好的時刻往往尚未到來。而且，以太坊也在準備一些事情。

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