比特币（BTC）下降到100,000美元以下，但长期叙述仍然很强

在加密货币市场中，2025年应该是比特币的一年（BTC -0.37％）。但是比特币最近下跌低于最重要的100,000美元价格水平

Bitcoin (CRYPTO: BTC) has recently dipped below the all-important $100,000 price level for the first time during the Trump presidency. This has naturally caused some concern among investors, especially those who are new to the cryptocurrency market. However, for longtime crypto investors, this is nothing new. They know exactly what to do anytime Bitcoin suddenly declines in value. You buy the dip.

比特币（Crypto：BTC）最近在特朗普总统任期期间首次降至最重要的100,000美元价格水平。这自然引起了投资者的关注，尤其是那些是加密货币市场的人。但是，对于长期的加密投资者来说，这并不是什么新鲜事物。他们确切地知道该怎么做的任何时间比特币突然下降。你买蘸酱。

Bitcoin fell below the $100,000 mark earlier this week. So, what happened? Some think it has to do with the launch of DeepSeek, the new Chinese AI competitor to ChatGPT. According to this narrative, investors now need to revalue all risky tech assets -- and that includes Bitcoin. That's why we're seeing an across-the-board decline both in tech stocks and cryptos.

本周早些时候，比特币低于100,000美元。那么，发生了什么事？有人认为这与新的中国人工智能竞争对手DeepSeek的推出有关。根据这一叙述，投资者现在需要重估所有有风险的技术资产，其中包括比特币。这就是为什么我们看到科技股和加密货币的全面下降的原因。

However, Bitcoin also fell to the $90,000 mark just two weeks earlier. The decline was attributed to macroeconomic weakness in the U.S. economy. There's an old saying: "Anytime the Fed sneezes, the market catches a cold." The new saying might well be, "Anytime the Fed sneezes, Bitcoin catches a cold." It's just an unfortunate reality -- the more that Bitcoin goes mainstream, the more susceptible it is to the macroeconomic factors that impact traditional financial assets.

但是，仅两周前，比特币也跌至90,000美元。下降归因于美国经济中的宏观经济弱点。有一个古老的话：“任何时候美联储打喷嚏，市场都会感冒。”新俗话很可能是：“每当美联储打喷嚏时，比特币都会感冒。”这只是一个不幸的现实 - 比特币成为主流越多，影响传统金融资产的宏观经济因素越容易受到影响。

And don't forget about Bitcoin's weakness immediately after the inauguration. The popular explanation was that investors didn't think the Trump team was doing enough to support Bitcoin and crypto. On Day 1 of the Trump presidency, investors were expecting a raft of new policy changes and initiatives related to Bitcoin. What they got, however, was a Trump meme coin launch.

就职典礼后，不要忘记比特币的弱点。流行的解释是，投资者认为特朗普团队在支持比特币和加密货币方面做得不够。在特朗普总统职位的第一天，投资者期望与比特币相关的新政策变更和计划。但是，他们得到的是特朗普模因硬币的发射。

So, you can see where I'm going with this. Nobody really knows why Bitcoin is falling or how much further it might fall. If you talk to bearish investors, they're convinced that Bitcoin might fall all the way to $75,000 before it recovers. As might be imagined, this lack of clarity over Bitcoin's near-term trajectory is causing a lot of people to lose their faith in crypto.

因此，您可以看到我要去哪里。没有人真正知道为什么比特币会下降，或者可能会掉多大。如果您与看跌投资者交谈，他们坚信比特币在恢复之前可能会一直跌至75,000美元。正如可能想象的那样，对比特币的近期轨迹缺乏明确性，导致很多人对加密货币失去信心。

But now is no time to panic. The long-term narrative around Bitcoin is not going away. The world's most popular cryptocurrency clearly has the support of the Trump White House. It has the growing support of billionaire hedge fund managers, who increasingly view Bitcoin as "digital gold" and a hedge against economic uncertainty. And Bitcoin now has the support of top investment firms on Wall Street, which are busy launching new investment products such as new ETFs.

但是现在没有时间惊慌。围绕比特币的长期叙述并没有消失。世界上最受欢迎的加密货币显然得到了特朗普白宫的支持。它得到了亿万富翁对冲基金经理的越来越多的支持，他们越来越多地将比特币视为“数字黄金”和对冲经济不确定性。现在，比特币得到了华尔街顶级投资公司的支持，华尔街正忙于推出新的投资产品，例如新ETF。

Keep in mind that Larry Fink, CEO of BlackRock (NYSE:BLK), recently came out and said Bitcoin could go to $700,000 if institutional money managers adopt a more crypto-friendly policy. He should know since his asset management firm is among the largest in the world, with $11.5 trillion in assets under management. His firm is also the creator of a phenomenally successful spot Bitcoin ETF that has pulled in more than $60 billion from investors.

请记住，贝莱德（NYSE：BLK）首席执行官拉里·芬克（Larry Fink）最近出来，并说，如果机构货币经理采用更友好的加密货币政策，则比特币可能会赚到70万美元。他应该知道，因为他的资产管理公司是世界上最大的资产，而管理资产为11.5万亿美元。他的公司也是一家出色成功的现货比特币ETF的创造者，该公司已从投资者那里获得了超过600亿美元的收入。

If Fink is correct, Bitcoin has the potential to 7x in value, perhaps in the next couple of years. What other asset can you think of with this much upside potential? And please don't say Nvidia (NASDAQ:NVDA), because this tech darling is also down big after the surprise launch of DeepSeek. In a single day, Nvidia lost $600 billion in market value.

如果Fink正确，则比特币有可能在未来几年内价值7倍。您还能以如此高的潜力来想到什么其他资产？而且，请不要说NVIDIA（NASDAQ：NVDA），因为在DeepSeek出人意料的推出之后，这位科技宠儿也很大。在一天中，NVIDIA损失了6000亿美元的市场价值。

For more than a decade, retail investors have been the driving force behind Bitcoin's rise. But now, large institutional investors are taking over, and the flow of money from these investors will far surpass anything the crypto market has ever seen. Fink, for example, thinks these large investors, some of them with tens of billions of dollars to put to work, could one day dedicate as much as 5% of their portfolios to Bitcoin.

十多年来，散户投资者一直是比特币崛起的推动力。但是现在，大型的机构投资者正在接管，这些投资者的资金流将远远超过加密市场所见过的一切。例如，芬克认为这些大型投资者，其中一些投资者可以投入数亿美元，有一天可以将其投资组合的5％奉献给比特币。

Moreover, the U.S. now plans to create a strategic Bitcoin reserve, which would likely commit the federal government to buy 1 million Bitcoins over the next five years. Twelve U.S. states also now have plans for similar Bitcoin reserves. And some sovereign nations, including Brazil, are launching plans for Bitcoin reserves of their own.

此外，美国现在计划创建一个战略性的比特币储备，这可能会在未来五年内承诺联邦政府购买100万比特币。现在，美国十二个州也有类似的比特币储备计划。包括巴西在内的一些主权国家正在启动自己的比特币储备计划。

That's a big reason why I'm buying the dip in Bitcoin. There's a new institutional era for Bitcoin on the horizon, with governments, banks, and large institutions ramping up their buying of Bitcoin. All that buying, obviously, should be good for the price of Bitcoin. So, don't let a short-term drop below the $100,000 level distract you from the long-term outlook for Bitcoin

这是我购买比特币蘸酱的重要原因。比特币将有一个新的机构时代，政府，银行和大型机构正在加大对比特币的购买。显然，所有购买都应该有利于比特币的价格。因此，不要让短期下降到100,000美元以下