比特币 (BTC) 与传统市场脱钩，跃升至 9.5 万美元，目标为 10 万美元

比特币在短暂跌破 91,000 美元后，于 11 月 26 日重回 95,000 美元大关。两天内 5% 的上涨标志着从

Bitcoin price surged past the $95,000 mark on November 26, following a brief dip below $91,000. This 5% rally over two days marked a significant shift away from its prior correlation with U.S. Treasury yields.

比特币价格在短暂跌破 91,000 美元后，于 11 月 26 日飙升至 95,000 美元大关。两天内上涨 5% 标志着其与美国国债收益率先前相关性的重大转变。

Earlier in November, CNF reported that Bitcoin was poised for a major surge as exchange balances hit a five-year low.

11 月初，CNF 报道称，随着外汇余额触及五年低点，比特币有望大幅上涨。

In brief, Bitcoin’s rally to $100K is supported by (1) decoupling from traditional markets, (2) global economic uncertainty, (3) institutional ETF inflows, and (4) bullish miner activity. Moreover, Bitcoin’s narrative as a scarce, uncensorable asset is gaining traction amid global economic uncertainties.

简而言之，比特币涨至 10 万美元的支撑因素包括 (1) 与传统市场的脱钩、(2) 全球经济的不确定性、(3) 机构 ETF 流入以及 (4) 看涨的矿工活动。此外，在全球经济不确定性的背景下，比特币作为一种稀缺的、不可审查的资产的说法正在获得越来越多的关注。

As major economies face growth challenges, investors are turning to Bitcoin, boosting its prospects of reaching $100,000 before the year ends.

随着主要经济体面临增长挑战，投资者开始转向比特币，推动其在年底前达到 10 万美元的前景。

Global Economic Woes Strengthen Bitcoin Narrative

全球经济困境强化了比特币的叙事

Economic concerns in France and Russia are bolstering Bitcoin’s narrative as a safe-haven asset. France faces rising debt yields and political turmoil, while Russia grapples with 8.5% inflation and a weakening ruble.

法国和俄罗斯的经济担忧正在支撑比特币作为避险资产的说法。法国面临债务收益率上升和政治动荡，而俄罗斯则面临8.5%的通胀率和卢布贬值。

Meanwhile, inflows into U.S. spot Bitcoin ETFs, including Fidelity’s and Bitwise’s funds, reversed a two-day outflow streak, injecting $103 million on November 27. These developments highlight growing institutional interest in Bitcoin, further solidifying its bullish outlook.

与此同时，包括 Fidelity 和 Bitwise 基金在内的美国现货比特币 ETF 的资金流入扭转了连续两天的流出趋势，于 11 月 27 日注入 1.03 亿美元。这些事态发展凸显了机构对比特币日益增长的兴趣，进一步巩固了其看涨前景。

Miner Activity Shows Confidence in Bull Market

矿工活动显示出对牛市的信心

Bitcoin miners are signaling confidence in the ongoing bull run as miner-controlled addresses resume accumulating BTC after 10 days of outflows, Glassnode data shows. This miner accumulation often indicates optimism about future price performance.

Glassnode 数据显示，随着矿工控制的地址在 10 天的资金外流后恢复积累 BTC，比特币矿工对持续的牛市充满信心。矿商的这种积累往往表明对未来价格表现的乐观态度。

Additionally, institutional conviction in Bitcoin’s long-term potential is evident in MicroStrategy’s ambitious plans to hold 4% of Bitcoin’s total supply by 2033.

此外，MicroStrategy 雄心勃勃的计划是到 2033 年持有比特币总供应量的 4%，这表明机构机构对比特币的长期潜力充满信心。

Together with strong on-chain data and institutional momentum, Bitcoin’s trajectory toward $100,000 appears increasingly plausible. At press time, Bitcoin (BTC) trades at $95,009.43, having surged by 1.57% in the past day and decreased slightly by 3.07% in the past week.

加上强大的链上数据和机构动力，比特币走向 10 万美元的轨迹似乎越来越合理。截至发稿，比特币（BTC）交易价格为 95,009.43 美元，过去一天上涨 1.57%，过去一周小幅下跌 3.07%。