分析师：本轮比特币上涨由仓位重置和供给弹性降低等推动

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2026-03-04 12:18:30

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BlockBeats 消息，3 月 4 日，据 Decrypt 报道，比特币反弹行情仍在延续，三周来首次突破 71,000 美元，但其涨势能否持续，仍取决于整体流动性环境以及地缘政治风险。

Altura 联合创始人兼 CEO Ranveer Arora 表示：「ETF 资金流持续提供结构性买盘支撑，但更直接的驱动因素似乎是仓位重置、减半后供给弹性下降，以及流动性预期改善。在加密市场中，一旦抛压被消化、仓位开始轮动，杠杆与衍生品资金流往往会加速价格发现过程。」Arora 认为，比特币的走势仍与全球流动性环境密切相关。他指出，比特币的表现「与其说像传统防御型资产，不如说更像全球流动性状况的高贝塔表达」。

LetsExchange 首席产品官 Alex J. 表示，比特币升至 71,000 美元「主要受到地缘政治紧张局势升级及不确定性上升的推动」。当被问及本轮反弹能否持续时，Alex J. 表示：「大概率不会。但预计价格也不会大幅下跌。」他解释称，当全球金融体系出现剧烈动荡、并显著影响不同资产之间的流动性流向时，比特币难以与黄金等保守型资产竞争。

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