比特币价格再次突破 10 万美元大关

经过数周的波动后，周一比特币价格自 12 月 19 日以来首次突破 10 万美元。

Bitcoin prices rose above the $100,000 price level on Monday for the first time since Dec. 19, following several weeks of volatility.

经过几周的波动后，周一比特币价格自 12 月 19 日以来首次突破 10 万美元。

In the weeks following the U.S. presidential election, bitcoin gained more than 50%, hitting an all-time high of around $108,000 in mid-December, amid investor optimism that the incoming Trump administration will adopt policies that support the cryptocurrency market. The rally stalled during the holiday season, with bitcoin falling to around $92,000.

在美国总统大选后的几周内，由于投资者对即将上任的特朗普政府将采取支持加密货币市场的政策持乐观态度，比特币上涨了 50% 以上，在 12 月中旬创下了 108,000 美元左右的历史新高。假期期间，涨势陷入停滞，比特币跌至 92,000 美元左右。

The digital currency was trading at around $102,000 early Monday afternoon, up from an intraday low of around $98,000, with little in the way of news to spark the turnaround.

周一下午早些时候，该数字货币的交易价格约为 102,000 美元，高于盘中低点 98,000 美元左右，几乎没有什么消息可以引发这种转变。

Bitcoin Prices Rose Again On Monday, But Why?

周一比特币价格再次上涨，但为什么呢？

One possible factor to consider is a reversal in flows for spot bitcoin exchange-traded funds (ETFs). After struggling with multiple days of significant outflows, spot bitcoin ETFs recorded inflows of $908.1 million on Friday, according to data from Farside Investors. Starting Dec. 19, just a few days after bitcoin surpassed $108,000, spot bitcoin ETFs have seen roughly $1.9 billion in outflows.

一个可能需要考虑的因素是现货比特币交易所交易基金（ETF）的流量逆转。 Farside Investors 的数据显示，在经历多日的大幅资金流出后，现货比特币 ETF 周五录得 9.081 亿美元的流入。从 12 月 19 日开始，就在比特币突破 108,000 美元几天后，现货比特币 ETF 资金流出约 19 亿美元。

When investors pull money out of these products, the ETFs sell bitcoin and that supply pushes down bitcoin prices. Conversely, when investors put money into spot bitcoin ETFs, these products buy bitcoin and that demand pushes up bitcoin prices. Massive demand from spot bitcoin ETFs drove the rally in bitcoin prices early last year, and could be doing so again.

当投资者从这些产品中撤资时，ETF 就会出售比特币，而供应量就会压低比特币价格。相反，当投资者将资金投入现货比特币 ETF 时，这些产品会购买比特币，这种需求会推高比特币价格。去年年初，现货比特币 ETF 的巨大需求推动了比特币价格的上涨，并且可能会再次出现这种情况。

"I would have predicted a rough patch for the [bitcoin] ETFs given the drop below $100k (overdue for a breather) but no, they roared back with nearly $1b Friday, which lifted the 1W to positive net," Bloomberg ETF analyst Eric Balchunas noted on Twitter.

彭博 ETF 分析师表示：“鉴于比特币跌破 10 万美元（早该喘口气了），我原本预计比特币 ETF 会出现一段艰难的时期，但事实并非如此，它们周五以近 10 亿美元的价格强势回归，这将 1W 提升至正净值”埃里克·巴尔丘纳斯 (Eric Balchunas) 在推特上指出。

Also worth noting: MicroStrategy (MSTR) bought more bitcoin for a ninth consecutive week, though at $101 million this most recent purchase is less than what had been seen in previous weeks. That alone couldn't have prompted such a big reaction in bitcoin's price, even if MicroStrategy is considered a bitcoin proxy.

另外值得注意的是：MicroStrategy (MSTR) 连续第九周购买了更多比特币，尽管最近购买的比特币数量为 1.01 亿美元，低于前几周的水平。即使 MicroStrategy 被视为比特币代理，仅此一点也不可能引起比特币价格如此大的反应。