多年來一直對加密貨幣看漲的研究公司表示，市場已經達到頂峰 - 它發起了一個模因硬幣，以證明瘋狂的人已經失控了

BCA Research在向客戶的一份報告中說，其對加密貨幣的短期前景變得更加看跌。

A research firm that's been bullish on crypto for years is now saying the market has peaked — and it's even launched a meme coin to prove that the frenzy has gotten out of hand.

一家一直在加密貨幣上看漲的研究公司現在說市場已經達到頂峰 - 甚至發起了模因硬幣，以證明瘋狂的狂熱已經失控了。

In a note to clients on Monday, BCA Research said its short-term outlook on cryptocurrency was turning more bearish. The firm began the year bullish on bitcoin and crypto broadly, and previously said it saw bitcoin climbing past $200,000.

BCA Research在給客戶的一份報告中說，其對加密貨幣的短期前景變得更加看跌。該公司開始在比特幣和加密貨幣上看漲一年，並以前曾表示，比特幣攀登了200,000美元。

After that call, bitcoin surged, drawing more institutional cash and inspiring lofty price targets.

在那次電話會議之後，比特幣猛增，利用更多的機構現金並激發了崇高的價格目標。

"But is this the right time to enter? We do not think so. The surge in memecoins, record-breaking Bitcoin ETF inflows, and retail speculation suggest excess optimism, historically a warning signal," BCA strategists wrote on Tuesday.

BCA策略師在周二寫道：“但是這是進入的合適時機嗎？我們不這樣認為。模因，破紀錄的比特幣ETF流入和零售猜測的激增表明過度樂觀，從歷史上看是一個警告信號。”

Leaning into the speculative mania that's gripped crypto markets, BCA said it launched Liquidity Trap, a meme coin meant to "hedge against the possibility that financial markets have fully embraced the absurd."

BCA傾向於進入加密貨幣市場的投機狂潮，它推出了流動性陷阱，這是一種模因硬幣，旨在“對沖金融市場完全接受荒謬的可能性”。

The token, which trades under the ticker LTRAP, traded well below $0.01 on Tuesday. The coin's market cap fell nearly in half to $28, down from $54 on Monday, according to data from Solscan.

在股票Ltrap下進行交易的代幣在周二的交易低於0.01美元。根據Solscan的數據，硬幣的市值下降了幾乎一半至28美元，比周一的54美元下降了。

The coin saw a flurry of activity when it was first launched, which is likely attributable to meme coin traders who frequently gamble on newly issued coins to turn a quick profit, BCA's Juan Correa told Business Insider.

BCA的Juan Correa告訴Business Insiders，該硬幣在首次推出時看到了一系列活動，這可能歸因於Meme Coin交易者經常賭博以新發行的硬幣賭博以快速利潤。

"When they realized the coin wasn't going to a million dollars, they stopped trading it," Correa said.

科雷亞說：“當他們意識到硬幣不會達到一百萬美元時，他們就停止了交易。”

Correa and Artem Sakhbiev, a research analyst at the firm, said that the coin was not an official investment product or linked with BCA Research or its affiliates. The strategists reiterated that they believed the coin was essentially worthless.

該公司的研究分析師Correa和Artem Sakhbiev說，硬幣不是正式的投資產品，也不是與BCA研究或其分支機構有關的。戰略家重申，他們認為硬幣本質上是毫無價值的。

"It is also called Liquidity Trap because it is literally a trap for your liquidity — as in any money that you put here, you will most certainly lose forever," Correa and Sakhbiev wrote in a note. "We believe its intrinsic value is zero and that investing your stakeholders funds in it is a serious breach of fiduciary responsibility."

Correa和Sakhbiev在一份註釋中寫道：“這也稱為流動性陷阱，因為它實際上是您的流動性陷阱 - 就像您在這裡投入的任何錢一樣，您肯定會永遠失去。” “我們認為它的內在價值為零，並且在其中投資利益相關者資金是嚴重違反信託責任的。”

BCA is still bullish on bitcoin over the long term, with a $200,000 price target for the crypto. But for now, digital assets look too frothy for investors to get a good deal, Correa said, pointing to risks from macro developments and high levels of speculation.

長期以來，BCA仍然對比特幣看漲，該加密貨幣的目標價為200,000美元。但是，就目前而言，數字資產看起來太泡沫了，投資者無法獲得很多交易，這指出了宏觀發展和高水平的猜測風險。

The firm added that the share of bitcoin supply trading for a profit is over 90%, a key threshold that has historically signaled major tops in bitcoin prices.

該公司補充說，利潤的比特幣供應交易的份額超過90％，這是一個關鍵門檻，歷史上標誌著比特幣價格的主要頂級。

Meanwhile, eight of the top 10 most downloaded finance apps as of January 20 were platforms that allow crypto trading, according to Sensor Tower data.

同時，根據Sensor Tower的數據，截至1月20日，截至1月20日，下載最多的十個融資應用程序中有8個是允許加密交易的平台。

"We are concerned that this raging optimism is a sign that we are near at top," Correa and Sakhbiev wrote. "Thus, we believe we are at a point where it is prudent to begin cashing out on gains and holding off on any incremental allocations," they later added.

Correa和Sakhbiev寫道：“我們擔心這種憤怒的樂觀情緒表明我們在頂部。”他們後來補充說：“因此，我們相信我們正處於開始兌現收益並堅持任何增量分配的謹慎的地步。”

BCA said it would become a "more willing" buyer of bitcoin when its price drops to around $75,000, representing a decline of more than 20% from current levels.

BCA表示，當它的價格下降到75,000美元左右時，它將成為比特幣的“更願意”的買家，而當前水平的下降量超過20％。

Bitcoin's price has been on a wild ride since Trump won the election in November, with the crypto rallying past $100,000 amid optimism that the president will dial back regulation in the industry and potentially create a national bitcoin stockpile.

自從特朗普在11月贏得大選以來，比特幣的價格一直在狂野，而加密貨幣集會的樂觀情緒超過了100,000美元，因為總統將撤回該行業的監管，並有可能建立國家比特幣庫存。

Bitcoin traded around $97,000 on Tuesday, down by about 11% from its all-time-high of $109,000 in late 2024.

比特幣週二的交易額約為97,000美元，比2024年底的歷史最高109,000美元下降了約11％。