一些市场分析师称

据一些市场分析师称，比特币（BTC）可能在任何重大回购之前达到110,000美元的新历史高点，他们引用了缓解通货膨胀并增加全球流动性作为支持价格集会的关键因素。

Some market analysts believe that Bitcoin (BTC) may reach a new all-time high of $110,000 before any significant retracement.

一些市场分析师认为，比特币（BTC）在任何重大回购之前可能会达到110,000美元的新历史高点。

According to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom, the key factor supporting such a rally is the US Federal Reserve pivoting to quantitative easing (QE) for treasuries from quantitative tightening (QT).

根据BITMEX的联合创始人兼Maelstrom首席投资官Arthur Hayes的说法，支持这种集会的关键因素是美国的美联储枢纽定量宽松（QE），用于定量收紧（QT）的国库。

However, despite recent speculation that QT is "basically over" on April 1, several analysts pointed out that the Fed has only slowed QT and is still planning to shrink its balance sheet.

然而，尽管最近猜测QT在4月1日基本上已经“结束”，但几位分析师指出，美联储只减慢了QT的速度，并且仍计划缩小其资产负债表。

Ben Counton, founder and CEO of IntoTheCryptoVerse, stated that QT is still in place and will continue until the Fed completes its goal of selling $35 billion per month from its mortgage-backed securities portfolio.

IntotheCryptoverse的创始人兼首席执行官Ben Counton表示，QT仍然存在，并将继续进行，直到美联储完成其从抵押贷款支持的证券投资组合中出售350亿美元的目标。

“QT is not ‘basically over’ on April 1st. They still have $35B/mo coming off from mortgage-backed securities. They just slowed QT from $60B/mo to $40B/mo,” Counton explained.

“ QT在4月1日基本上并没有'基本上'。他们仍然有35B/mo的$ 35B/mo从抵押贷款支持的证券中脱颖而出。他们只是将QT从$ 60B/mo放慢速度至40b/mo，” Counton解释说。

According to a March 24 X post by Hayes, who is also the author of the upcoming book "The Rising. The Fall. The Final Chapter," his last bet is that Bitcoin will hit $110,000 before it retests $76,500.

根据海耶斯（Hayes）的3月24日X帖子，他也是即将出版的书《崛起。秋季。秋季》的作者，他的最后一个赌注是比特币将在重新测试76,500美元之前达到110,000美元。

"I bet $BTC hits $110k before it retests $76.5k. Y? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause of 'transitory inflation.' JAYPOW told me so."

“我敢打赌，$ btc在重新测试$76.5k。y？美联储将从QT到QE的国债。而且关税并不重要，因为'临时通货膨胀'的原因无关紧要。杰波（Jaypow）告诉我。”

Source: Arthur Hayes

资料来源：亚瑟·海斯（Arthur Hayes）

“What I mean is that the price is more likely to hit $110k than $76.5k next. If we hit $110k, then it’s yachtzee time and we ain’t looking back until $250k,” Hayes added in a follow-up X post.

“我的意思是，价格更有可能达到110k美元的$ 76.5k。如果我们达到了11万美元，那是Yachtzee的时间，直到25万美元，我们才回头，” Hayes在后续X Post中补充说。

Quantitative tightening (QT) is when the US Federal Reserve shrinks its balance sheet by selling bonds or letting them mature without reinvesting proceeds, while quantitative easing (QE) means that the Fed is buying bonds and pumping money into the economy to lower interest rates and encourage spending during difficult financial conditions.

定量收紧（QT）是美国美联储通过出售债券或让其成熟而不会再投资收益的情况下缩小资产负债表的时间，而定量放松（QE）意味着美联储正在购买债券，并向经济投入资金以降低利率，并在困难的财务条件下鼓励支出。

Another analyst pointed out that while the Fed has slowed QT, it has not yet fully pivoted to easing.

另一位分析师指出，尽管美联储放慢了QT，但尚未完全透露宽松。

Meanwhile, crypto traders and analysts are eagerly awaiting the Fed's pivot to quantitative easing, which has historically been a bullish factor for Bitcoin's price.

同时，加密货币商人和分析师急切地等待着美联储对量化宽松的关键，这在历史上一直是比特币价格的看涨因素。

The last period of QE in 2020 coincided with a more than 1,000% surge in Bitcoin's price, as it rallied from around $6,000 in March 2020 to a then-record high of $69,000 in November 2021.

2020年的最后一个时期与比特币的价格上涨超过1,000％，因为它从2020年3月的6,000美元降至当时的69,000美元的69,000美元。

After a strong rally from $25,000 in December 2022 to a new all-time high of $69,000 in November 2021, Bitcoin's price faced significant resistance in 2022 due to macroeconomic headwinds and encountered a low point of $15,000 in November 2022.

从2022年12月的25,000美元到2021年11月的新历史最高售价69,000美元之后，由于宏观经济的逆风，比特币的价格在2022年的新历史最高点，并在2022年11月遇到了15,000美元的低点。

However, Bitcoin's recovery to above $85,000 after last week's Federal Open Market Committee (FOMC) meeting is a bullish sign for investor sentiment that may signal more upside, according to Emmanuel Cardozo, market analyst at real-world asset (RWA) tokenization platform Brikken.

但是，在上周联邦公开市场委员会（FOMC）会议之后，比特币的回收率超过了85,000美元，这是投资者情绪的看涨信号，这可能会提示更高空间，这可能会提出更多的上涨空间。

The macroeconomic environment also "supports" a Bitcoin rally to $110,000, the analyst told Cointelegraph.

分析师告诉Cointelegraph，宏观经济环境也将比特币集会“支持”到110,000美元。

"Global liquidity has risen, discussions around a US Bitcoin strategic reserve, potentially driving Bitcoin toward that $110,000 mark as BTC liquidity available in exchanges keeps dropping, leading to a supply squeeze scenario."

“全球流动性已经上升，关于美国比特币战略储备的讨论，可能会将比特币驱动到110,000美元，因为交易所中的BTC流动性不断下降，从而导致了供应挤压场景。”

"But a correction to $76,500 aligns with Bitcoin's historical volatility, often triggered by profit-taking or unexpected market shifts," Cardozo added.

卡多佐补充说：“但是，与比特币的历史波动率相符的76,500美元的纠正通常是由获利或意外的市场转移引发的。”

According to Ben Counton, founder and CEO of IntoTheCryptoVerse, the case for Bitcoin continuing higher is strong as it recently closed a weekly candle above the 21-week and 200-week moving averages.

IntotheCryptoverse的创始人兼首席执行官Ben Counton表示，比特币继续更高的案例非常强劲，因为它最近关闭了每周的蜡烛，高于21周和200周的移动平均值。

This bullish momentum aligns with Arthur's view, and they are both looking for $88K to be taken out in order to pave the way for the next leg of the uptrend.

这种看涨的势头与亚瑟（Arthur）的观点保持一致，他们俩都在寻找$ 88K的价格，以便为下一个上升趋势铺平道路。

However, Counton pointed out that those bullish trends are already priced in and the next move will depend on whether buyers or sellers come out on top.

但是，伯爵（Counton）指出，这些看涨趋势已经定价，下一步将取决于买卖双方是否脱颖而出。

"I think a move to $76.5K would come if we get a strong close below the 21-week MA. And if we get another strong candle like last week's, then I think we can go as

“我认为，如果我们在21周以下的MA。