比特币 (BTC) 价格上涨需要现货 ETF、Coinbase 美元储备来维持势头

根据 CoinMarketCap 的数据，过去一个月比特币价格大幅上涨，涨幅达 14.74%。在这次价格上涨期间，总理

The price of Bitcoin (CRYPTO: BTC) recorded significant gains in October, rising by 14.74% according to data from CoinMarketCap. During this price rally, the premier cryptocurrency came close to establishing a new market all-time high, reaching a local peak of $73,149 on October 29.

根据 CoinMarketCap 的数据，比特币（CRYPTO：BTC）的价格在 10 月份录得大幅上涨，上涨了 14.74%。在这次价格上涨期间，这种主要的加密货币几乎创下了市场历史新高，并于 10 月 29 日达到了 73,149 美元的局部峰值。

However, CryptoQuant CEO Ki Young Ju has stated a certain condition is needed to sustain this price gain.

然而，CryptoQuant 首席执行官 Ki Young Ju 表示，维持这种价格上涨需要一定的条件。

In a series of X posts on November 1, Ki Young Ju stated that stablecoins are currently providing an insufficient amount of liquidity to sustain the present buying pressure on Bitcoin. This observation is particularly important as traders commonly rely on stablecoins to acquire volatile assets such cryptocurrencies, due to their fixed dollar value.

在 11 月 1 日的一系列 X 帖子中，Ki Young Ju 表示，稳定币目前提供的流动性不足以维持目前对比特币的购买压力。这一观察结果尤其重要，因为交易者通常依靠稳定币来获取加密货币等波动性资产，因为它们的美元价值是固定的。

Therefore, a higher stablecoin exchange reserve translates into significant potential for an impending price gain via wide-scale purchase.

因此，较高的稳定币交易储备意味着通过大规模购买即将到来的价格上涨的巨大潜力。

However, According to Young Ju, crypto exchanges currently hold only 21% of the total stablecoin market i.e. $34 billion of $166 billion, as most of these tokens are currently being used for storage or remittances. This development represents a slow rise in the stablecoin exchange reserve from $30 billion in September 2021 during the last bull run, despite a 33% growth in total stablecoin shares in the same period.

然而，Young Ju 表示，加密货币交易所目前仅占整个稳定币市场的 21%，即 1660 亿美元中的 340 亿美元，因为这些代币大部分目前用于存储或汇款。这一发展代表着稳定币交易储备从 2021 年 9 月上一次牛市期间的 300 亿美元缓慢上升，尽管同期稳定币总份额增长了 33%。

Currently, the Bitcoin-to-stablecoin reserve ratio is 6.05, similar to the value at the last ATH. Therefore, in order to maintain BTC’s present upward trajectory, Ki Young Ju postulates that the Spot Bitcoin ETFs, alongside Coinbase USD reserves, have to provide much-needed market liquidity.

目前，比特币与稳定币的准备金率为 6.05，与上次 ATH 的值相似。因此，为了维持 BTC 目前的上涨轨迹，Ki Young Ju 假设现货比特币 ETF 以及 Coinbase 美元储备必须提供急需的市场流动性。

Notably, the Spot Bitcoin ETFs can be said to be behind Bitcoin’s current rally considering their impressive inflows record of over $5 billion in the past three weeks. Of this figure, BlackRock’s IBIT has led the market recording investments of $4.44 billion in this timeframe.

值得注意的是，考虑到过去三周超过 50 亿美元的令人印象深刻的流入记录，现货比特币 ETF 可以说是比特币当前上涨的幕后推手。其中，贝莱德 (BlackRock) 的 IBIT 在此期间以 44.4 亿美元的投资记录引领市场。

Ki Young Ju states that it is important the Bitcoin ETFs maintain this momentum as a breakdown in pace will reduce buying pressure, especially from brokerage firms such as Coinbase Prime, which may result in Bitcoin falling back into consolidation.

Ki Young Ju 表示，比特币 ETF 保持这种势头非常重要，因为步伐的崩溃将减少购买压力，尤其是来自 Coinbase Prime 等经纪公司的压力，这可能会导致比特币重新陷入整合。

At the time of writing, Bitcoin was trading at $69,608 reflecting a 1.32% loss in the last 24 hours. However, the asset’s trading volume is up by 25.61% and is valued at $51.56 billion.

截至撰写本文时，比特币交易价格为 69,608 美元，在过去 24 小时内下跌了 1.32%。然而，该资产的交易量增长了 25.61%，价值 515.6 亿美元。

For the premier cryptocurrency, a return to above $73,000 remains much on the card, especially with the potential of sustained ETF flows and the upcoming US elections. If pro-crypto Donald Trump secures a victory on the ballot, Bitcoin should definitely establish a new all-time high with expectations of reaching $90,000-$100,000 at the end of 2024.

对于这种首要的加密货币来说，重返 73,000 美元以上的可能性仍然很大，特别是考虑到 ETF 持续流动和即将到来的美国大选的潜力。如果支持加密货币的唐纳德·特朗普在选举中获胜，比特币肯定会创下历史新高，预计到 2024 年底将达到 90,000-100,000 美元。