比特币突破 76,800 美元，标志着看涨反弹的开始

比特币作为另类金融市场的真正晴雨表，已突破 76,800 美元大关，达到了历史性里程碑。这确实是一个惊人的数字，但根据许多分析师的说法，这只是一本有望成为畅销书的书的第一页。

Bitcoin price hit a historic milestone by crossing the $76,800 mark on Monday. According to several analysts, this is just the first chapter in a story that is set to become a bestseller. So what is behind this meteoric rise, and what else could propel the world’s leading cryptocurrency to new heights? Let’s take a look at the hidden forces orchestrating this bullish rally.

比特币价格周一突破 76,800 美元大关，创下历史性里程碑。几位分析师表示，这只是即将成为畅销书的故事的第一章。那么，这种迅速崛起的背后是什么？还有什么可以将世界领先的加密货币推向新的高度呢？让我们来看看策划这次看涨反弹的隐藏力量。

Institutions Signal an Insatiable Appetite for Bitcoin

机构发出对比特币永不满足的胃口

One of the most fascinating aspects of Bitcoin’s recent rally is the way in which institutional investors, once hesitant, have become veritable locomotives of the market.

比特币近期上涨最令人着迷的方面之一是机构投资者曾经犹豫不决，现已成为名副其实的市场火车头。

The numbers speak for themselves: CME’s futures trading volume exploded to reach a peak of $13.15 billion on November 6, while the nominal open interest crossed the 15,000 BTC mark.

数字不言而喻：CME 的期货交易量在 11 月 6 日激增，达到 131.5 亿美元的峰值，而名义未平仓合约突破了 15,000 BTC 大关。

One might be tempted to think that such activity is the work of frenzied speculators, but the reality is quite the opposite. These movements attest to a deep-rooted conviction that Bitcoin is much more than just a simple bet—it is a strategic leverage.

人们可能会认为这种活动是疯狂投机者的杰作，但事实恰恰相反。这些走势证明了一种根深蒂固的信念，即比特币不仅仅是一种简单的赌注——它是一种战略杠杆。

And what is behind this sudden enthusiasm? Several factors are at play. Firstly, the growing adoption of spot Bitcoin ETFs has breathed new life into institutional portfolios.

这种突然的热情背后是什么？有几个因素在起作用。首先，现货比特币 ETF 的日益普及为机构投资组合注入了新的活力。

Secondly, the American political landscape, which has been transformed by a red wave of pro-crypto legislators, has cleared away the uncertainty and bolstered investor confidence.

其次，支持加密货币的立法者的红色浪潮改变了美国的政治格局，消除了不确定性并增强了投资者的信心。

The addition of over $1.1 billion in open interest on the same day is no mere coincidence, but rather a reflection of a carefully considered strategy.

同一天未平仓合约增加超过 11 亿美元不仅仅是巧合，而是经过深思熟虑的策略的体现。

From Hopes to Technical Analysis: Bitcoin Price Target of $85,000 and Beyond

从希望到技术分析：比特币价格目标为 85,000 美元及以上

It is no secret that crypto loves to flirt with the unpredictable. However, this time, experts largely agree that the price of Bitcoin could very well hit $82,000 to $85,000 in the near future.

加密货币喜欢与不可预测的事物调情，这已经不是什么秘密了。然而，这一次，专家们基本一致认为，比特币的价格很可能在不久的将来达到 82,000 美元至 85,000 美元。

The Fibonacci extension tool, that precious compass for analysts, is already projecting a target of $82,367. Support levels in the $77,000 to $78,000 range are solid as a rock, and the depth of the order book reveals demand ready to swallow up the remaining supply. One could say the field is clear for new surges.

斐波那契扩展工具是分析师的宝贵指南针，已经预测目标为 82,367 美元。 77,000 美元至 78,000 美元范围内的支撑位坚如磐石，订单簿的深度表明需求已准备好吞噬剩余供应。人们可以说这个领域已经准备好迎接新的浪潮。

What also distinguishes this phase of the rally is the relative stability in options. According to JJ, a derivatives expert at HighStrike, implied volatility has eased, suggesting that the market may have found its bottom.

这一阶段上涨的另一个特点是期权的相对稳定性。 HighStrike 的衍生品专家 JJ 表示，隐含波动率已经放缓，表明市场可能已经触底。

This gives traders a favorable environment to consider buying long-term options without fearing a harsh return to seesaw-like movements. After all, the absence of chaotic shifts during the American elections was a reassuring signal, a rare moment when crypto smiled at serenity.

这为交易者提供了一个有利的环境来考虑购买长期期权，而不必担心会出现剧烈的跷跷板走势。毕竟，美国大选期间没有出现混乱的变化是一个令人放心的信号，这是加密货币微笑着平静的罕见时刻。

The Hidden Drivers: Geopolitics and Monetary Strategy

隐藏的驱动因素：地缘政治和货币战略

A factor that is often underestimated, yet plays a crucial role, is monetary policy. The Federal Reserve’s decision to cut rates by 25 basis points has been welcomed like a feast by the markets, crypto included.

货币政策是一个经常被低估但却发挥着至关重要作用的因素。美联储降息 25 个基点的决定受到了市场（包括加密货币市场）的欢迎。

Combine this with the rumor of a potential strategic Bitcoin reserve being created by the United States, and you have the recipe for an explosive climate—a climate where investors are not just watching Bitcoin rise: they are climbing aboard.

再加上美国可能建立比特币战略储备的传言，就会引发爆炸性的气候——在这种气候下，投资者不仅会关注比特币的上涨，还会纷纷加入比特币。

The emergence of crypto-friendly legislators and the hope for a continued relaxation of interest rates only heighten the conviction that Bitcoin has not yet revealed all its potential. The air is charged with electricity, and each new massive purchase seems to be the spark that could ignite the next great wick.

对加密货币友好的立法者的出现以及对利率持续放松的希望只会增强人们对比特币尚未展现其全部潜力的信念。空气中充满了电力，每一次新的大规模购买似乎都可能点燃下一个伟大的灯芯。

Thus, Bitcoin, having braved storms and skepticism, stands on the threshold of new promises. And if history has taught us anything, it’s that when it comes to BTC, the best is often yet to come. Moreover, Ethereum is also preparing something.

因此，比特币勇敢地面对风暴和怀疑，站在了新承诺的门槛上。如果说历史教会了我们什么的话，那就是对于比特币来说，最好的时刻往往尚未到来。而且，以太坊也在准备一些事情。

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