#BTC & ETH周末行情分析

Cryptocurrency is surging again across the board! Bitcoin has broken 85,000 USD, what happened?

According to reports, Joe Burnett stated in the Chainreaction live show that despite the recent price pullback and the global trade tensions leading to a decline in investor risk appetite, Bitcoin is still expected to reach $1.8 million by 2035.

Burnett stated that the market is currently valued at around $21 trillion, and if Bitcoin's market cap reaches the level of gold, the price of a single Bitcoin will reach $1 million. He emphasized that Bitcoin's technological attributes are more advanced and will ultimately surpass the market value of gold.

Gautam Chhugani stated in a report on Tuesday that Bitcoin's relatively strong performance recently is attributed to new institutional demand, namely Bitcoin exchange-traded funds (ETFs) and corporate Bitcoin reserves. He pointed out that most of the Bitcoin sell-offs are by short-term retail traders, which explains the resilience of Bitcoin's price. Historically, Bitcoin has experienced larger declines, primarily due to panic selling by retail investors. The transition to institutional ownership has clearly helped, with ETFs currently accounting for about 5% of the total supply, and another approximately 5% held by corporations.

Chhugani pointed out that although Bitcoin has fallen by 15% this year, the inflows into Bitcoin ETFs are still positive—approximately $770 million has flowed in year-to-date, while $911 million has flowed out in the past 30 days. He also added that corporate holdings of Bitcoin have also driven demand, with their capital holding period exceeding five years.

Recently, Zhao Wei believes that Bitcoin has a certain upward basis, but its trend will still be highly dependent on the evolution of the macroeconomic situation and policy paths. If global trade frictions continue and lead central banks in various countries to restart the easing cycle, the release of liquidity is expected to raise the market's attention on scarce assets such as Bitcoin. In addition, as financial products like ETFs are implemented and custody and compliance mechanisms are gradually improved, Bitcoin's value attributes and allocation functions as "digital gold" are gaining more recognition.

Yu Jianing, co-chairman of the Blockchain Special Committee of the China Communication Industry Association, believes that in the long term, the reshaping of the global trade pattern may strengthen the investment value of Bitcoin. Ongoing trade conflicts could lead to a restructuring of global supply chains and fragmentation of the financial system, with countries potentially adopting competitive currency devaluation policies to respond to economic pressures. As a decentralized global asset, Bitcoin's scarcity and immutability may attract more attention. If trade conflicts between major economies continue to escalate and undermine trust in the existing international monetary system, Bitcoin may be viewed by some investors as a hedge against global economic uncertainty. However, this process will be accompanied by significant volatility, and price trends will highly depend on the effectiveness of global economic policy coordination and institutional investors' acceptance of virtual assets.