Odaily星球日报讯 QCP Capital 发文表示，“上周，我们强调了监测比特币与黄金及股市相关性的重要性。起初，随着股市下跌，比特币与黄金一同上涨，显示出强劲的股市并非比特币上涨的必要条件。本周中，比特币出现转向，开始脱离黄金走势，反而与股市同步上涨，这主要受“21 Capital”相关新闻影响。这种在避险资产和风险资产之间的摇摆表明，传统的相关性分析框架已不再完全适用。市场参与者现在更关注比特币“唯涨不跌”趋势的持久性。 期权市场似乎对这一乐观态度表示认可。看涨期权的买入量依然较高，上周五成交了超过 500 份 2025 年 5 月 30 日到期的 10.4 万美元看涨期权和 800 份 2025 年 6 月 27 日到期的 13.5 万美元看涨期权。 比特币的这轮上涨在基本面上较以往周期更为健康。此次回升并非由投机性杠杆推动，而是受到传统金融机构采纳的推动。永续合约资金费率保持平稳或略为负值，同时比特币现货 ETF 连续六天净流入，总计达 31 亿美元。然而，比特币涨势的可持续性本周将面临多项关键考验。重要的宏观经济数据和企业财报可能成为决定比特币“唯涨不跌”趋势是否延续的关键因素。”
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