<p>Galaxy Digital 的全公司研究负责人 Alex Thorn 预测，比特币到 2027 年底将最终达到 250,000 美元。</p>
<p>与此同时，这位知名研究员承认，预测这款旗舰加密货币在 2026 年的价格走势将是非常具有挑战性的。</p>
<p>事实上，正如 Thorn 所指出的，目前根据期权市场，比特币在明年年底达到 50,000 美元和 250,000 美元的几率是相等的。</p>
<p>&#34;这些广泛的区间反映了对短期的不确定性。在撰写本文时，整体加密市场已经深陷熊市，比特币未能稳固地重新建立其看涨势头，&#34; Thorn 在他的社交媒体帖子中表示。</p>
<p>除了模糊的宏观经济形势，即将到来的美国中期选举也将带来不确定性。</p>
<p><strong>成熟的资产</strong></p>
<p>分析师还指出，比特币正从一种投机性资产转变为一种成熟的金融资产。&#34;在过去的一年中，我们看到比特币长期波动性的结构性下降，&#34; 他说。</p>
<p>六个月前，看涨期权的价格高于看跌期权。交易者们如此渴望抓住一次大幅反弹（&#34;FOMO&#34;），以至于为看涨期权支付了溢价。</p>
<p>然而，现在看跌期权的价格高于看涨期权，这在传统资产中是正常的。交易者们现在更担心保护自己的财富免受崩盘的影响，而不是对反弹感到兴奋。</p>
<p>Thorn 指出，比特币现在正从 &#34;通常在发展中、增长型市场中看到的偏斜&#34; 转向在更传统的宏观资产中看到的偏斜。</p>
<p>分析师声称，比特币在未来两年内跟随黄金成为广泛采用的货币贬值对冲工具是 &#34;非常可能&#34; 的。</p>

GLXY

<p>Galaxy Digital 的研究主管 Alex Thorn 预测，比特币将在 2027 年底达到 250,000 美元，但他认为到明年年底，比特币达到 50,000 美元或 250,000 美元的可能性相等。他指出，比特币正在转变为一种成熟的金融资产，长期波动性降低，并建议它可能在两年内成为类似黄金的货币贬值对冲工具</p>

<p>Alex Thorn, head of firmwide research at Galaxy Digital, has predicted that Bitcoin will eventually hit $250,000 by the end of 2027.</p>
<div class="lb-trans"><p>Galaxy Digital 的全公司研究负责人 Alex Thorn 预测，比特币到 2027 年底将最终达到 250,000 美元。</p>
</div><p>At the same time, the prominent researcher has admitted that it would be too challenging to predict the flagship cryptocurrency's price action in 2026.</p>
<div class="lb-trans"><p>与此同时，这位知名研究员承认，预测这款旗舰加密货币在 2026 年的价格走势将是非常具有挑战性的。</p>
</div><p>In fact, as noted by Thorn, there are currently equal odds of Bitcoin hitting $50,000 and $250,000 by the end of the next year, according to options markets.</p>
<div class="lb-trans"><p>事实上，正如 Thorn 所指出的，目前根据期权市场，比特币在明年年底达到 50,000 美元和 250,000 美元的几率是相等的。</p>
</div><p>&#34;These wide ranges reflect uncertainty about the near term. At the time of writing, broader crypto is already deep in a bear market, and bitcoin has failed to firmly re-establish its bullish momentum,&#34; Thorn said in his social media post.</p>
<div class="lb-trans"><p>&#34;这些广泛的区间反映了对短期的不确定性。在撰写本文时，整体加密市场已经深陷熊市，比特币未能稳固地重新建立其看涨势头，&#34; Thorn 在他的社交媒体帖子中表示。</p>
</div><p>Apart from the hazy macro picture, the upcoming US midterm elections will also sow uncertainty.</p>
<div class="lb-trans"><p>除了模糊的宏观经济形势，即将到来的美国中期选举也将带来不确定性。</p>
</div><p><strong>A maturing asset</strong></p>
<div class="lb-trans"><p><strong>成熟的资产</strong></p>
</div><p>The analyst has also noted that Bitcoin is transitioning from a speculative to a mature financial asset. &#34;Over the course of the year, we have seen a structural decrease in the level of longer-term BTC volatility,&#34; he said.</p>
<div class="lb-trans"><p>分析师还指出，比特币正从一种投机性资产转变为一种成熟的金融资产。&#34;在过去的一年中，我们看到比特币长期波动性的结构性下降，&#34; 他说。</p>
</div><p>Six months ago, calls were more expensive than Puts. Traders were so desperate to catch a massive rally (&#34;FOMO&#34;) that they paid a premium for upside calls.</p>
<div class="lb-trans"><p>六个月前，看涨期权的价格高于看跌期权。交易者们如此渴望抓住一次大幅反弹（&#34;FOMO&#34;），以至于为看涨期权支付了溢价。</p>
</div><p>Now, however, puts are more expensive than calls, which is normal for traditional assets. Traders are now more worried about protecting their wealth from a crash than they are excited about a rally.</p>
<div class="lb-trans"><p>然而，现在看跌期权的价格高于看涨期权，这在传统资产中是正常的。交易者们现在更担心保护自己的财富免受崩盘的影响，而不是对反弹感到兴奋。</p>
</div><p>Bitcoin is now moving from &#34;a skew normally seen in developing, growth-y markets&#34; to the one seen in more traditional macro assets, Thorn notes.</p>
<div class="lb-trans"><p>Thorn 指出，比特币现在正从 &#34;通常在发展中、增长型市场中看到的偏斜&#34; 转向在更传统的宏观资产中看到的偏斜。</p>
</div><p>The analyst claims that it is &#34;very possible&#34; that bitcoin follows gold to become widely adopted as a monetary debasement hedge within the next two years.</p>
<div class="lb-trans"><p>分析师声称，比特币在未来两年内跟随黄金成为广泛采用的货币贬值对冲工具是 &#34;非常可能&#34; 的。</p>
</div>

Galaxy 的顶级研究员透露比特币何时会达到 25 万美元