比特币触及 10 万美元：下一步是什么？

比特币突破 10 万美元大关是加密货币市场的决定性时刻。 Georgiev 表示，现货比特币 ETF 的推出改变了游戏规则

At Dealers Connect 4.0 in Limassol, Cyprus, FinanceFeeds sat down with Miroslav Georgiev, Head of Dealing at Taurex and Zen Connect, to discuss the market outlooks for 2025, the impact of Bitcoin crossing $100,000 on the crypto market, and the transformation of the brokerage industry by proprietary trading.

在塞浦路斯利马索尔举办的 Dealers Connect 4.0 大会上，FinanceFeeds 与 Taurex 和 Zen Connect 交易主管 Miroslav Georgiev 坐下来讨论 2025 年的市场前景、比特币突破 10 万美元对加密货币市场的影响以及经纪业务的转型行业通过自营贸易。

Bitcoin crossed the $100,000 mark this year, and several factors contributed to this move. One of the biggest drivers is the launch of a spot Bitcoin ETF, which has attracted both retail and institutional investors. This increased demand adds value to Bitcoin and could support its price in the future.

比特币今年突破了 10 万美元大关，有几个因素促成了这一走势。最大的推动因素之一是现货比特币 ETF 的推出，它吸引了散户和机构投资者。这种需求的增加增加了比特币的价值，并可能在未来支撑其价格。

At the same time, the growing participation of institutional investors is likely to reduce Bitcoin’s volatility. Institutions have more tools, like short selling and options, which can stabilize sharp price movements. Additionally, Bitcoin is increasingly being seen as “digital gold,” and with interest rates expected to decline next year, safe assets like Bitcoin should benefit.

与此同时，机构投资者的参与不断增加可能会降低比特币的波动性。机构拥有更多的工具，例如卖空和期权，可以稳定价格的剧烈波动。此外，比特币越来越被视为“数字黄金”，随着明年利率预计下降，比特币等安全资产应该会受益。

Georgiev also highlighted the role of external factors, like Donald Trump’s return to the political scene and his stance on cryptocurrencies, which could further support Bitcoin’s adoption and growth.

格奥尔基耶夫还强调了外部因素的作用，例如唐纳德·特朗普重返政治舞台及其对加密货币的立场，这可能会进一步支持比特币的采用和增长。

His outlook for the broader financial markets in 2025 is positive, especially for equities, cryptocurrencies, and safe haven assets like gold. He pointed to the likely continuation of lower interest rates as a key driver of market performance.

他对 2025 年更广泛的金融市场的前景持乐观态度，尤其是股票、加密货币和黄金等避险资产。他指出，较低的利率可能会持续下去，这是市场表现的关键驱动力。

“Trump’s return to the spotlight is generally positive for the stock market, although certain sectors, like renewable energy, may face challenges. Interest rates are expected to decline, which is good for the market overall.”

“特朗普重返聚光灯对股市总体来说是积极的，尽管可再生能源等某些行业可能面临挑战。预计利率将会下降，这对整体市场有利。”

However, the Taurex and Zen Connect executive also flagged potential risks, like renewed trade tensions with China, which could introduce periods of heightened volatility. Still, his outlook remains bullish overall, with safe assets like gold and Bitcoin positioned to perform well in uncertain environments.

然而，Taurex 和 Zen Connect 高管也指出了潜在风险，例如与中国的贸易紧张局势再度紧张，这可能会导致波动加剧。尽管如此，他的前景总体上仍然乐观，黄金和比特币等安全资产在不确定的环境中表现良好。

“We should also prepare for potential volatility. For instance, new trade sanctions against China could temporarily disrupt markets. Still, I remain optimistic about the stock market, cryptocurrencies, and safe haven assets like gold. Gold, in particular, stands to gain in an environment of declining rates and geopolitical uncertainty.”

“我们还应该为潜在的波动做好准备。例如，针对中国的新贸易制裁可能会暂时扰乱市场。尽管如此，我仍然对股市、加密货币和黄金等避险资产保持乐观。尤其是黄金，在利率下降和地缘政治不确定性的环境下将会上涨。”

Proprietary trading has seen explosive growth in recent years, transforming the brokerage landscape. Georgiev described it as an appealing entry point for traders with limited capital, noting that a $500 investment in a prop account can provide access to a $100,000 trading balance.

近年来，自营交易出现爆炸式增长，改变了经纪业的格局。 Georgiev 将其描述为对于资金有限的交易者来说是一个有吸引力的切入点，并指出在自营账户中投资 500 美元即可获得 100,000 美元的交易余额。

“Prop trading is a relatively new segment in the financial industry and is growing rapidly. It provides an affordable entry point for retail clients. For example, with $500, a trader can control a $100,000 account and keep 80–90% of the profits,” said Georgiev. “This model attracts new clients to the industry, which is good, but it also pulls clients away from traditional CFD brokers. Many prefer a prop account over using $500 in a leveraged CFD account.

“自营交易是金融行业中一个相对较新的领域，并且正在迅速增长。它为零售客户提供了一个负担得起的切入点。例如，交易者可以用 500 美元控制一个 100,000 美元的账户，并保留 80-90% 的利润。”Georgiev 说道。 “这种模式吸引了新客户进入该行业，这很好，但它也使客户远离传统差价合约经纪商。许多人更喜欢自营账户，而不是在杠杆差价合约账户中使用 500 美元。

“Moreover, MetaQuotes’ recent decision to restrict MetaTrader access to regulated brokers has impacted the market. It encourages traders to choose regulated platforms, which enhances trust and reduces scams. I expect more regulation in the prop trading space next year. This will likely consolidate the market, with larger, more reputable firms gaining market share.”

“此外，MetaQuotes 最近决定限制 MetaTrader 访问受监管经纪商，这对市场产生了影响。它鼓励交易者选择受监管的平台，从而增强信任并减少诈骗。我预计明年自营交易领域将受到更多监管。这可能会巩固市场，规模更大、信誉更好的公司将获得市场份额。”

From Bitcoin’s transformation into digital gold to the growing prominence of prop trading, the market is set to undergo significant change. For brokers and investors, the focus will be on adapting to these shifts while navigating an increasingly regulated and competitive landscape.

从比特币向数字黄金的转变，到自营交易的日益突出，市场将发生重大变化。对于经纪人和投资者来说，重点将是适应这些变化，同时应对日益监管和竞争激烈的环境。

Dealers Connect 4.0, which was hosted by Your Bourse and Yourfintech, featured two-panel discussions. The first focused on the challenges and opportunities for trading desks, while the second centered on the design of scalable and cost-effective trading platforms. Miroslav Georgiev participated in the former discussion, where he covered the evolution of trading books, the introduction of new tools, and strategies for addressing emerging risks.

Dealers Connect 4.0 由 Your Bourse 和 Yourfintech 主办，包括两个小组讨论。第一个重点关注交易平台面临的挑战和机遇，第二个重点关注可扩展且具有成本效益的交易平台的设计。 Miroslav Georgiev 参加了前一场讨论，讨论了交易账户的演变、新工具的引入以及应对新兴风险的策略。