{"id":116,"date":"2026-02-04T12:49:39","date_gmt":"2026-02-04T12:49:39","guid":{"rendered":"https:\/\/99bitcoins.com\/zh-tw\/?p=116"},"modified":"2026-02-04T12:45:24","modified_gmt":"2026-02-04T12:45:24","slug":"the-bitcoin-price-bubble-is-a-lot-worse-than-you-think","status":"publish","type":"post","link":"https:\/\/99bitcoins.com\/zh-tw\/news\/presales\/the-bitcoin-price-bubble-is-a-lot-worse-than-you-think\/","title":{"rendered":"\u6bd4\u7279\u5e63\u6ce1\u6cab\u5316\u8b66\u8a0a\uff1aBTC\u66b4\u8dcc40%\u80cc\u5f8c\u3000\u771f\u76f8\u53ef\u80fd\u6bd4\u4f60\u60f3\u7684\u66f4\u56b4\u91cd"},"content":{"rendered":"<p><span style=\"font-weight: 400\">\u6211\u5011\u73fe\u5728\u64c1\u6709\u4e00\u4f4d\u89aa\u6bd4\u7279\u5e63\u7684\u7e3d\u7d71\u3001\u526f\u7e3d\u7d71\u3001SEC\uff08\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff09\u4e3b\u5e2d\u4ee5\u53ca<a href=\"https:\/\/www.cftc.gov\/\" rel=\"nofollow\" target=\"_blank\"> CFTC\uff08\u5546\u54c1\u671f\u8ca8\u4ea4\u6613\u59d4\u54e1\u6703\uff09<\/a>\u4e3b\u5e2d\u3002 \u570b\u5bb6\u5728\u8cb7\u5165\uff0c\u9ea5\u53ef\u00b7\u585e\u52d2\uff08Michael Saylor\uff09\u5728\u8cb7\u5165\uff0c\u5927\u9280\u884c\u4e5f\u5728\u8cb7\u5165\uff0c\u7136\u800c\u6bd4\u7279\u5e63\u50f9\u683c\u4f9d\u7136\u5728\u5d29\u8dcc\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u6bd4\u7279\u5e63 (BTC) \u8f03 2025 \u5e74\u63a5\u8fd1 $126,000 \u7684\u5cf0\u503c\u5df2\u4e0b\u8dcc\u7d04 40%\uff0c\u76ee\u524d\u5728 $75,000\u2013$77,000 \u5340\u9593\u9707\u76ea\u3002\u55ae\u65e5\u8d85\u904e 25 \u5104\u7f8e\u5143\u7684\u69d3\u687f\u591a\u55ae\u88ab\u6e05\u7b97\uff0c\u5f15\u767c\u4e86\u4e00\u5834\u81ea\u6211\u6d88\u8017\u7684\u9023\u9396\u62cb\u552e\u3002\u9019\u7a76\u7adf\u662f\u5e38\u898f\u56de\u8abf\uff0c\u9084\u662f\u66f4\u5927\u7684\u98a8\u66b4\uff1f<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u63a2\u7d22\uff1a2026 \u5e74\u9810\u671f\u7206\u767c\u7684 20+ \u500b\u6f5b\u529b\u52a0\u5bc6\u8ca8\u5e63<\/span><\/p>\n<h2><span style=\"font-weight: 400\">\u9081\u514b\u723e\u00b7\u585e\u52d2\uff08Michael Saylor\uff09\u919c\u805e\u8207\u6d41\u52d5\u6027\uff1a\u662f\u8ab0\u641e\u57ae\u4e86 2026 \u5e74\u7684\u6bd4\u7279\u5e63\uff1f<\/span><\/h2>\n<div class=\"chart crypto-chart-instance\" id=\"crypto_chart_6a21fd4059733\"\n\tdata-coin-id=\"bitcoin\">\n\t<div class=\"chart__header\">\n\t\t<div class=\"chart__info\">\n\t\t\t<div class=\"chart__info-icon\">\n\t\t\t\t<img id=\"crypto_chart_6a21fd4059733-chart__info-icon-img\" \/>\n\t\t\t\t<div class=\"chart__info-name\" id=\"crypto_chart_6a21fd4059733-chart__info-name\"><\/div>\n\t\t\t\t<div class=\"chart__info-symbol\" id=\"crypto_chart_6a21fd4059733-chart__info-symbol\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"chart__info-current\">\n\t\t\t\t<div class=\"chart__info-price\" id=\"crypto_chart_6a21fd4059733-chart__info-price\"><\/div>\n\t\t\t\t<div class=\"chart__info-change\" id=\"crypto_chart_6a21fd4059733-chart__info-change\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"chart__info-extra\">\n\t\t\t\t<div class=\"chart__info-label\">Market Cap<\/div>\n\t\t\t\t<div class=\"chart__info-marketcap\" id=\"crypto_chart_6a21fd4059733-chart__info-marketcap\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"chart__controls\">\n\t\t\t<div class=\"chart__controls-group\">\n\t\t\t\t<button class=\"chart__button chart__button--24h\"\n\t\t\t\t\tid=\"crypto_chart_6a21fd4059733-btn-24h\">24h<\/button>\n\t\t\t\t<button class=\"chart__button chart__button--7d\"\n\t\t\t\t\tid=\"crypto_chart_6a21fd4059733-btn-7d\">7d<\/button>\n\t\t\t\t<button class=\"chart__button chart__button--30d\"\n\t\t\t\t\tid=\"crypto_chart_6a21fd4059733-btn-30d\">30d<\/button>\n\t\t\t\t<button class=\"chart__button chart__button--1y\"\n\t\t\t\t\tid=\"crypto_chart_6a21fd4059733-btn-1y\">1y<\/button>\n\t\t\t\t<button class=\"chart__button chart__button--all-time\"\n\t\t\t\t\tid=\"crypto_chart_6a21fd4059733-btn-all-time\">All Time<\/button>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"chart__container\">\n\t\t<canvas class=\"chart__canvas\" id=\"crypto_chart_6a21fd4059733-cryptoChart\"><\/canvas>\n\t<\/div>\n<\/div>\n\n<p><span style=\"font-weight: 400\">\u6b64\u6b21\u62cb\u552e\u6070\u9022\u4e00\u4efd 2010 \u5e74\u7684\u96fb\u5b50\u90f5\u4ef6\u91cd\u65b0\u66dd\u5149\uff0c\u6587\u4e2d\u4ee5\u8cb6\u7fa9\u8a5e\u5f59\u63cf\u8ff0\u4e86\u5e74\u8f15\u6642\u7684\u9ea5\u53ef\u00b7\u585e\u52d2\u3002\u8a72\u90f5\u4ef6\u662f\u5728\u53f8\u6cd5\u90e8\u91cb\u51fa\u8207\u300a\u827e\u666e\u65af\u5766\u6a94\u6848\u900f\u660e\u5ea6\u6cd5\u6848\u300b\u76f8\u95dc\u7684\u6587\u4ef6\u6642\u88ab\u6316\u6398\u51fa\u4f86\u7684\u3002 <\/span><\/p>\n<p><span style=\"font-weight: 400\">Michael Saylor<\/span><span style=\"font-weight: 400\">\u4f5c\u70ba MicroStrategy \u6700\u5177\u4ee3\u8868\u6027\u7684\u4f01\u696d\u6bd4\u7279\u5e63\u50b3\u9053\u8005\uff0c\u5728\u50f9\u683c\u5d29\u6f70\u671f\u9593\u5927\u591a\u4fdd\u6301\u6c89\u9ed8\u3002<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-117 size-large\" src=\"https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/Screenshot-12-1024x570.png\" alt=\"\" width=\"1024\" height=\"570\" srcset=\"https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/Screenshot-12-1024x570.png 1024w, https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/Screenshot-12-300x167.png 300w, https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/Screenshot-12-768x427.png 768w, https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/Screenshot-12-1536x855.png 1536w, https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/Screenshot-12.png 1702w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><span style=\"font-weight: 400\">\u8207\u6b64\u540c\u6642\uff0c\u80fd\u6e90\u5e02\u5834\u6301\u7e8c\u6ce2\u52d5\uff0c\u5c0d\u80a1\u5e02\u548c\u4fe1\u8cb8\u5e02\u5834\u9020\u6210\u58d3\u529b\u3002\u8cb4\u91d1\u5c6c\u5728\u7d93\u6b77\u62cb\u7269\u7dda\u5f0f\u4e0a\u6f32\u5f8c\u958b\u59cb\u518d\u6b21\u8d70\u5f37\uff0c\u767d\u9280\u4e0a\u6f32 8.11%\uff0c\u9ec3\u91d1\u4e0a\u6f32 4.76%\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u7136\u800c\uff0c\u6240\u6709\u76ee\u5149\u90fd\u96c6\u4e2d\u5728\u585e\u52d2\u8eab\u4e0a\u30022025 \u5e74\u9ad8\u5cf0\u9032\u5834\u7684 ETF \u8cb7\u5bb6\u76ee\u524d\u6089\u6578\u88ab\u5957\uff0c\u6b62\u640d\u8ce3\u76e4\u9032\u4e00\u6b65\u9935\u990a\u4e86\u9019\u5834\u5d29\u6f70\u3002\u6bd4\u7279\u5e63\u9084\u51fa\u73fe\u4e86\u300c\u6b7b\u4ea1\u4ea4\u53c9\u300d\uff0c50 \u65e5\u5747\u7dda\u5df2\u8dcc\u7834 200 \u65e5\u6307\u6578\u79fb\u52d5\u5e73\u5747\u7dda\uff08EMA\uff09\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u585e\u52d2\u6703\u50cf\u50b3\u7d71\u5b9a\u7fa9\u90a3\u6a23\u88ab\u300c\u6e05\u7b97\u300d\u55ce\uff1f\u4e0d\u6703\u3002\u4f46\u585e\u52d2\u64c1\u6709 20 \u5104\u7f8e\u5143\u3001\u5229\u7387\u8d85\u904e 11% \u7684\u80a1\u6b0a\u62b5\u62bc\u8cb8\u6b3e\u3002\u5373\u4f7f\u662f\u6700\u5fe0\u5be6\u7684\u6563\u6236\uff0c\u5728\u770b\u5230 MSTR\uff08MicroStrategy\uff09\u5c0d\u6bd4\u7279\u5e63\u7684\u8868\u73fe\u8d70\u5f31\u6642\uff0c\u4e5f\u6703\u89ba\u5f97\u628a\u9322\u82b1\u5728\u5225\u8655\u66f4\u5212\u7b97\u3002<\/span><\/p>\n<h2><span style=\"font-weight: 400\">\u9ea5\u53ef\u00b7\u67cf\u745e\uff08Michael Burry\uff09\u5c0d\u6bd4\u7279\u5e63\u7684\u65b0\u9810\u6e2c<\/span><\/h2>\n<blockquote><p><span style=\"font-weight: 400\">\u6df1\u5c64\u98a8\u96aa\u5728\u65bc\u8cc7\u7522\u8ca0\u50b5\u8868\u3002 \u300c\u5eab\u5b58\u8cc7\u7522\u4e26\u975e\u6c38\u6046\u5b58\u5728\u3002\u300d\u2014\u9ea5\u53ef\u00b7\u67cf\u745e\uff08Michael Burry\uff09\uff0cScion \u8cc7\u7522\u7ba1\u7406\u516c\u53f8\u6295\u8cc7\u4eba<\/span><\/p><\/blockquote>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-118 size-full\" src=\"https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/1770178422620936.png\" alt=\"\" width=\"740\" height=\"959\" srcset=\"https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/1770178422620936.png 740w, https:\/\/99bitcoins.com\/zh-tw\/wp-content\/uploads\/sites\/17\/2026\/02\/1770178422620936-231x300.png 231w\" sizes=\"auto, (max-width: 740px) 100vw, 740px\" \/><\/p>\n<p><span style=\"font-weight: 400\">\u76ee\u524d\u6709\u8fd1 200 \u5bb6\u4e0a\u5e02\u516c\u53f8\u6301\u6709\u6bd4\u7279\u5e63\uff0c\u9019\u4e9b\u982d\u5bf8\u5fc5\u9808\u6309\u5e02\u5834\u50f9\u503c\u8a08\u50f9\uff08Mark-to-market\uff09\u3002\u5982\u679c\u50f9\u683c\u6301\u7e8c\u4e0b\u6ed1\uff0c\u98a8\u96aa\u7d93\u7406\u4eba\u4e0d\u6703\u53bb\u722d\u8ad6\u610f\u8b58\u5f62\u614b\uff0c\u4ed6\u5011\u6703\u76f4\u63a5\u8ce3\u51fa\u3002<\/span><\/p>\n<h3>\u65b0\u578b\u8ff7\u56e0\u5e63 Bitcoin Hyper \u662f 2026 \u5e74\u6700\u5f37\u7684\u9810\u552e\u9805\u76ee\u55ce\uff1f<\/h3>\n<p><span style=\"font-weight: 400\">\u9022\u4f4e\u8cb7\u5165\u662f\u5275\u9020\u767e\u842c\u8ca1\u5bcc\u7684\u6642\u6a5f\uff0cBitcoin Hyper \u6b63\u6210\u70ba 2026 \u5e74\u7684\u5f37\u6709\u529b\u7af6\u722d\u8005\u3002\u5b83\u81f4\u529b\u65bc\u64f4\u5c55\u6bd4\u7279\u5e63\u7db2\u8def\u800c\u975e\u53d6\u4ee3\u5b83\u3002\u9019\u500b Layer-2 \u65b9\u6848\u4f7f\u7528\u6bd4\u7279\u5e63\u9032\u884c\u6700\u7d42\u7d50\u7b97\uff0c\u540c\u6642\u5c07\u901f\u5ea6\u548c\u667a\u80fd\u5408\u7d04\u63a8\u5411\u93c8\u4e0b\uff0c\u5728\u4fdd\u7559\u5b89\u5168\u6027\u7684\u540c\u6642\u89e3\u9396\u6bd4\u7279\u5e63\u539f\u751f\u7121\u6cd5\u652f\u6301\u7684\u529f\u80fd\u3002<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hyper builds the highway. Bitcoin hits the turbo. \u26a1\ufe0f<\/p>\n<p>Match made in heaven. \ud83d\udd25\ud83d\ude80<a href=\"https:\/\/t.co\/VNG0P4FWNQ\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/VNG0P4FWNQ<\/a> <a href=\"https:\/\/t.co\/SYtdMRwxNp\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/SYtdMRwxNp<\/a><\/p>\n<p>&mdash; Bitcoin Hyper (@BTC_Hyper2) <a href=\"https:\/\/twitter.com\/BTC_Hyper2\/status\/2018902205818888247?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">February 4, 2026<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">\u622a\u81f3 2026 \u5e74 1 \u6708\uff0c\u5176\u9810\u552e\u5df2\u7c4c\u96c6\u7d04 3,110 \u842c\u7f8e\u5143\uff0c\u5f8c\u7e8c\u8f2a\u6b21\u4ee3\u5e63\u5b9a\u50f9\u7d04\u70ba $0.0136751\u3002\u5e02\u5834\u666e\u904d\u9810\u671f Bitcoin Hyper \u5c07\u65bc\u7b2c\u4e8c\u5b63\u5ea6\u555f\u52d5\uff0c\u4f46\u4ea4\u6613\u6240\u4e0a\u5e02\u8a0a\u606f\u5c1a\u672a\u78ba\u8a8d\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u85c9\u7531\u5c07\u6bd4\u7279\u5e63\u958b\u653e\u7d66 DeFi\u3001\u904a\u6232\u548c\u4ee3\u5e63\u5316\u73fe\u5be6\u4e16\u754c\u8cc7\u7522\uff08RWA\uff09\uff0cHYPER \u64f4\u5927\u4e86\u4f7f\u7528\u5834\u666f\u4e26\u7e2e\u6e1b\u4e86\u6d41\u901a\u4f9b\u61c9\u91cf\uff0c\u9019\u5169\u500b\u56e0\u7d20\u7686\u6709\u5229\u65bc\u50f9\u683c\u8868\u73fe\u3002Bitcoin Hyper \u7684\u7c4c\u6b3e\u6b63\u903c\u8fd1 3,500 \u842c\u7f8e\u5143\uff0c\u7576\u524d\u4ee3\u5e63\u8f2a\u6b21\u8ddd\u96e2\u7d50\u675f\u4e0d\u5230\u4e00\u5929\u3002\u5982\u679c\u9ad8\u98a8\u96aa\u56de\u5831\u7684<a href=\"https:\/\/cryptonews.com\/tw\/cryptocurrency\/best-crypto-presales\/\" rel=\"nofollow\" target=\"_blank\">\u52a0\u5bc6\u9810\u552e<\/a>\u80fd\u5f15\u9818\u6f6e\u6d41\uff0cBitcoin Hyper \u986f\u7136\u6b63\u8655\u65bc\u9818\u5148\u5730\u4f4d\u3002<\/span><\/p>\n<a href=\"https:\/\/99bitcoins.com\/zh-tw\/bitcoinhyper\" class=\"sc-button sc-button-green sc-button-medium\" target=\"_blank\"  rel=\"nofollow\"><span><span style=\"font-weight: 400\">\u9032\u5165 BTC Hyper \u9810\u552e<\/span><\/span><\/a>\n<p><span style=\"font-weight: 400\">\u7acb\u5373\u52a0\u5165 BTC Hyper \u7684\u61c9\u7528\u6d6a\u6f6e<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u5728 <a href=\"https:\/\/x.com\/BTC_Hyper2\" rel=\"nofollow\" target=\"_blank\">X<\/a> \u4e0a\u95dc\u6ce8 99Bitcoins \u7372\u53d6\u6700\u65b0\u5e02\u5834\u52d5\u614b\uff0c\u4e26\u8a02\u95b1 <a href=\"https:\/\/www.youtube.com\/@99bitcoins\" rel=\"nofollow\" target=\"_blank\">YouTube<\/a> \u6536\u770b\u6bcf\u65e5\u5c08\u5bb6\u5e02\u5834\u5206\u6790<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6211\u5011\u73fe\u5728\u64c1\u6709\u4e00\u4f4d\u89aa\u6bd4\u7279\u5e63\u7684\u7e3d\u7d71\u3001\u526f\u7e3d\u7d71\u3001SEC\uff08\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff09\u4e3b\u5e2d\u4ee5\u53ca CFTC\uff08\u5546\u54c1\u671f\u8ca8\u4ea4\u6613\u59d4\u54e1\u6703\uff09\u4e3b\u5e2d\u3002 \u570b\u5bb6\u5728\u8cb7\u5165\uff0c\u9ea5\u53ef\u00b7\u585e\u52d2\uff08Michael Saylor\uff09\u5728\u8cb7\u5165\uff0c\u5927\u9280\u884c\u4e5f\u5728\u8cb7\u5165\uff0c\u7136\u800c\u6bd4\u7279\u5e63\u50f9\u683c\u4f9d\u7136\u5728\u5d29\u8dcc\u3002 \u6bd4\u7279\u5e63 (BTC) \u8f03 2025 \u5e74\u63a5\u8fd1 $126,000 \u7684\u5cf0\u503c\u5df2\u4e0b\u8dcc\u7d04 40%\uff0c\u76ee\u524d\u5728 $75,000\u2013$77,000 \u5340\u9593\u9707\u76ea\u3002\u55ae\u65e5\u8d85\u904e 25 \u5104\u7f8e\u5143\u7684\u69d3\u687f\u591a\u55ae\u88ab\u6e05\u7b97\uff0c\u5f15\u767c\u4e86\u4e00\u5834\u81ea\u6211\u6d88\u8017\u7684\u9023\u9396\u62cb\u552e\u3002\u9019\u7a76\u7adf\u662f\u5e38\u898f\u56de\u8abf\uff0c\u9084\u662f\u66f4\u5927\u7684\u98a8\u66b4\uff1f \u63a2\u7d22\uff1a2026 \u5e74\u9810\u671f\u7206\u767c\u7684 20+ \u500b\u6f5b\u529b\u52a0\u5bc6\u8ca8\u5e63 \u9081\u514b\u723e\u00b7\u585e\u52d2\uff08Michael Saylor\uff09\u919c\u805e\u8207\u6d41\u52d5\u6027\uff1a\u662f\u8ab0\u641e\u57ae\u4e86 2026 \u5e74\u7684\u6bd4\u7279\u5e63\uff1f \u6b64\u6b21\u62cb\u552e\u6070\u9022\u4e00\u4efd 2010 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