分析师警告称，随着比特币兑黄金走强，其价格可能会触及 97,000 美元

比特币（BTC）最近几天出现了令人难以置信的上涨，突破了 89,000 美元，并升至 90,000 美元大关。

Bitcoin (BTC) price action has been impressive over the past week, surging past the $89,000 level and eyeing the $90,000 mark. As BTC rallied, investors anticipated further gains; however, analysts at QCP Capital highlighted a potential correction.

过去一周，比特币 (BTC) 的价格走势令人印象深刻，飙升至 89,000 美元大关，直指 90,000 美元大关。随着比特币上涨，投资者预期进一步上涨；然而，QCP Capital 的分析师强调了潜在的调整。

According to the analysts, Bitcoin futures-based returns hit a seven-month peak, and leveraged positions also increased. Interestingly, futures-based returns didn’t last very long historically, and such rapid increases were followed by corrections, the analysts noted.

分析师表示，基于比特币期货的回报率创下七个月以来的新高，杠杆头寸也有所增加。有趣的是，分析师指出，从历史上看，基于期货的回报并没有持续很长时间，如此快速的增长之后就会出现调整。

With Bitcoin hovering just below the crucial $90,000 level, the analysts noted that the basis rate at the end of November was over 18%.

分析师指出，由于比特币徘徊在略低于 90,000 美元的关键水平，11 月底的基准利率超过 18%。

"High leverage and high 7-month basis (suggesting any pullbacks will be bought aggressively, especially by leveraged longs).

“高杠杆率和高 7 个月基差（表明任何回调都会被积极买入，尤其是杠杆多头）。

While Bitcoin remains structurally bullish, we caution against any pullbacks, particularly from leveraged liquidations."

虽然比特币在结构上仍然看涨，但我们警告不要出现任何回调，尤其是杠杆清算。”

The analysts warned of a pullback due to leveraged positions but added that there was strong demand in the options market, with key interest in expiry prices of $110,000 and $120,000.

分析师警告称，杠杆头寸将导致回调，但补充称，期权市场需求强劲，主要关注者对到期价格为 110,000 美元和 120,000 美元。

Bitcoin Could Hit $97,000

比特币可能触及 97,000 美元

In a recent analysis, QCP Capital highlighted how Bitcoin cemented the "digital gold" narrative with a 30% rally after the election.

在最近的分析中，QCP Capital 强调了比特币如何在大选后以 30% 的涨幅巩固了“数字黄金”的叙事。

According to the analysts, Bitcoin surged by 30% since the US elections, while gold dropped by 5%, bolstering BTC's role as "digital gold."

分析师表示，自美国大选以来，比特币飙升了 30%，而黄金则下跌了 5%，支撑了 BTC 作为“数字黄金”的角色。

With demand for Bitcoin intensifying and calls for more upside potential, the analysts suggested that a 1% reallocation from gold to Bitcoin could propel BTC to $97,000.

随着对比特币需求的增强以及对更大上涨潜力的呼声，分析师表示，从黄金到比特币的 1% 重新配置可能会将 BTC 推升至 97,000 美元。

"Recently, capital has been reallocated from traditional safe havens like gold to BTC. Currently at $1.73 trillion, Bitcoin’s market cap recently surpassed silver’s but remains well below gold’s $17.5 trillion.

“最近，资本已从黄金等传统避风港重新配置到比特币。目前，比特币的市值为 1.73 万亿美元，最近超过了白银，但仍远低于黄金的 17.5 万亿美元。

Even if 1% of the capital flowing from gold into BTC, it could push Bitcoin to around $97,000."

即使 1% 的资金从黄金流向 BTC，也可能将比特币推至 97,000 美元左右。”