比特币为何承压?德意志银行分析

投资观察
Nov 24, 2025

上周是比特币自二月份以来最糟糕的一周,该加密货币相比上个月的高点下跌超过30%。德意志银行分析师指出五个主要因素:

-- 投资者情绪普遍紧张。分析师表示,自十月份以来,比特币的表现“更像是一只高增长科技股,而非一个不相关的价值储存工具”,并强调Nasdaq-100与比特币之间存在强关联。

-- 美国联邦储备系统的鹰派立场,尤其是在美联储主席杰罗姆·鲍威尔的警告中,表明12月降息并非板上钉钉的决定。(在纽约联储的约翰·威廉姆斯周五的言论后,降息的可能性重新浮现。)

-- 监管进展停滞,参议院正在考虑《数字资产市场透明法》。

-- 机构投资者流出,以及长期持有者实现利润。

周一早间,比特币交易价格接近86,000美元,保持了周末小幅反弹所带来的收益。周五东部时间下午4点左右交易价格约为84,535美元。

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