5 Reasons Why Bitcoin Rallied 10% In 7 Days To $63K: Bernstein
5 Reasons Why Bitcoin Rallied 10% In 7 Days To $63K: Bernstein
Bitcoin's (CRYPTO: BTC) breakout to $64,000 has been fueled by several reasons, according to a new Bernstein analyst note.
比特幣（CRYPTO: BTC）漲至$64,000的原因有幾個，根據一份新的Bernstein分析師報告。
What Happened: The analysts cite rate cuts, bipartisan crypto support, Bitcoin ETF momentum, miner stability post-halving, and reduced selling pressure as catalysts for Bitcoin's 9% seven-day spike. Ethereum (CRYPTO: ETH) has shown even stronger performance, up 17% on the week.
事件經過：分析師指出利率削減、兩黨支持加密貨幣、比特幣ETF勢頭、挖礦穩定性後半減產、減少賣盤壓力等因素是比特幣上漲9%七天的推動力。以太幣（CRYPTO: ETH）表現更強勁，一週上漲17%。
- Rate cuts and fiscal policy: The 50-basis point rate cut, and record-high gold prices have bolstered Bitcoin as an alternative asset. Bernstein notes that "Any signal of loose monetary policy and potentially weaker dollar, is positive for Bitcoin." Year-to-date (YTD), Bitcoin is up 45%, compared to gold's 27%.
- Bipartisan crypto support: Both Kamala Harris and Donald Trump have signalled support for digital assets, though the crypto community seeks more policy clarity from Harris given the current administration's mixed track record.
- Bitcoin ETF momentum: Despite price volatility, Bitcoin ETF inflows remain positive, totalling $17 billion to date. Bernstein expects "re-acceleration of inflows" as more wirehouses approve the products.
- Miner stability post-halving: Bitcoin network hash power has rebounded to pre-halving levels around 630 EH/s, indicating miners have adjusted to reduced block rewards.
- Reduced selling pressure: Major bitcoin sales by the German and U.S. governments have concluded, while MicroStrategy raised $2.1 billion to acquire more Bitcoin taking its holdings to 252,220 BTC (~1.3% of Bitcoin's total supply).
- 利率削減和財政政策：50個點子的利率削減，以及創紀錄的黃金價格使比特幣作爲替代資產得到加強。Bernstein指出「任何寬鬆貨幣政策的信號，以及可能的美元走弱，對比特幣是利好」。今年以來，比特幣上漲45%，相比黃金的27%。
- 兩黨支持加密貨幣：賀錦麗和唐納德· 特朗普都表示支持數字資產，儘管加密社區希望賀錦麗給出更多政策的明確性，考慮到當前政府的政策記錄不一。
- 比特幣ETF勢頭：儘管價格波動，比特幣ETF流入仍保持積極，至今總計170億美元。Bernstein預計隨着更多券商批准這些產品，ETF的資金流入將「重新加速」。
- 挖礦穩定性後半減產：比特幣網絡算力已反彈至半減產前的水平，約爲每秒630億赫/秒，表明礦工已適應減少的區塊獎勵。
- 減少賣盤壓力：德國和美國政府的大規模比特幣出售已經結束，而MicroStrategy籌集了21億美元用於收購更多比特幣，使其持有量達到252,220 BTC（約爲比特幣總供應的1.3%）。
Also Read: Bitcoin's On-Chain Metrics Are Turning Bullish: What Is Going On?
另請閱讀：比特幣的鏈上指標正轉爲看好：到底發生了什麼？
Why It Matters: Bernstein sees potential upside for Bitcoin mining stocks, which have underperformed year-to-date. The analysts highlight opportunities in pure-play Bitcoin miners like Core Scientific (NASDAQ:CORZ), Riot Platforms (NASDAQ:RIOT), CleanSpark (NASDAQ:CLSK) and Marathon Holdings (NASDAQ:MARA) that may be poised for a rebound.
爲什麼這很重要：伯恩斯坦看好比特幣挖礦股，今年表現不佳。分析師們重點關注純比特幣礦工投資機會，如Core Scientific（納斯達克股票代碼：CORZ）、Riot Platforms（納斯達克股票代碼：RIOT）、cleanspark（納斯達克股票代碼：CLSK）和Marathon Holdings（納斯達克股票代碼：MARA），可能會迎來反彈。
The report also notes continued strength in crypto-exposed stocks like MicroStrategy (NASDAQ:MSTR) is noted as "the most direct and largest market cap – leveraged equity proxy on Bitcoin price," while Robinhood (NASDAQ:HOOD) is benefiting from increased crypto trading revenues.
報告還指出，像MicroStrategy（納斯達克股票代碼：MSTR）這樣的加密貨幣相關股票繼續保持強勁，被認爲是「比特幣價格最直接、最大市值的槓桿權益代理人」，而Robinhood（納斯達克股票代碼：HOOD）則受益於加密貨幣交易收入的增加。
As the crypto market digests these bullish factors, Bernstein's analysis suggests the rally may have room to run, particularly if institutional adoption continues to grow through ETFs and other investment vehicles.
隨着加密貨幣市場消化這些看好因素，伯恩斯坦的分析表明，如果機構採用繼續增長通過etf和其他投資工具，這波行情可能會有進一步上漲的空間。
What's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
接下來：比特幣作爲機構資產類別的影響力預計將在Benzinga即將到來的數字資產未來活動中得到徹底探討。日期是11月19日。
- Raoul Pal's Chief Crypto Analyst Says The Bull Market Is Back When This Indicator Hits 45% (It's Now At 11%)
- 雷奧爾·帕爾的首席加密貨幣分析師表示，當這一指標達到45%時，牛市回歸（目前爲11%）。
Image: Shutterstock
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譯文內容由第三人軟體翻譯。