{"id":7381,"date":"2026-01-02T02:44:36","date_gmt":"2026-01-02T02:44:36","guid":{"rendered":"https:\/\/icobench.com\/zh\/?p=7381"},"modified":"2026-01-02T02:44:36","modified_gmt":"2026-01-02T02:44:36","slug":"grayscale-2026-outlook-crypto-market-recovery-bitcoin-h1-new-high","status":"publish","type":"post","link":"https:\/\/icobench.com\/zh\/news\/grayscale-2026-outlook-crypto-market-recovery-bitcoin-h1-new-high\/","title":{"rendered":"\u7070\u5ea62026\u5e74\u5c55\u671b\u5168\u89e3\u6790\u3000\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u5fa9\u7526\u3000\u6bd4\u7279\u5e01\u4e0a\u534a\u5e74\u521b\u65b0\u9ad8"},"content":{"rendered":"
\u7070\u5ea6<\/span>(Grayscale)<\/span>\u7814\u7a76\u4e3b\u7ba1<\/span>Zach Pandl<\/span>\u5728\u6700\u65b0\u53d7<\/span>\u8bbf\u4e2d\u628a2026<\/span>\u5e74\u52a0\u5bc6\u5e02<\/span>\u573a\u7684\u4e3b\u8f74\u8bb2\u5f97\u5f88\u6e05\u695a\uff0c\u8d44\u91d1\u4e3a\u4f55\u613f\u610f\u505c\u6cca\u5728\u52a0\u5bc6\u8d44\u4ea7\uff0c\u7b54\u6848\u4e0d\u518d\u53ea\u9760\u53d9\u4e8b\u62c9\u52a8\uff0c\u800c\u662f\u56de\u5230\u5b8f\u89c2\u538b\u529b\u4e0e\u5236\u5ea6\u5316\u8fdb\u7a0b\u4e24\u6761\u66f4\u786c\u7684\u903b\u8f91\u7ebf\u3002<\/p>\n \u5f53\u5168\u7403<\/span>\u8d22\u653f\u8d64\u5b57\u4e0e\u503a\u52a1\u6c34\u4f4d\u5c45\u9ad8\u4e0d\u4e0b\uff0c\u6cd5\u5e01\u8d2d\u4e70\u529b\u7684\u4e0d\u786e\u5b9a\u6027\u96be\u4ee5\u6d88\u6563\uff0c\u6295\u8d44\u4eba\u5bf9\u53e6\u7c7b\u4ef7\u503c\u50a8\u5b58\u5de5\u5177\u7684\u9700\u6c42\u5c31\u4e0d\u4f1a\u7a81\u7136\u6d88\u5931\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u4e3b\u8981\u5e02\u573a\u7684\u76d1\u7ba1\u67b6\u6784\u9010\u6b65\u660e\u6717\uff0c\u8ba9\u673a\u6784\u80fd\u4ee5\u66f4\u4f4e\u7684\u5408\u89c4\u6469\u64e6\u628a\u8d44\u91d1\u5bfc\u5165\uff0c\u5e02\u573a\u7ed3\u6784\u56e0\u6b64\u51fa\u73b0\u66f4\u63a5\u8fd1\u4f20\u7edf\u91d1\u878d\u7684\u8f6e\u5ed3\u3002<\/p>\n \u52a0\u5bc6\u4e16\u754c\u7684\u6280<\/span>\u672f\u4e0e\u5e94\u7528\u8d8a\u6765\u8d8a\u591a\u5143\uff0c\u4f46\u82e5\u4ece\u8d44\u91d1\u6d41\u5411\u4e0e\u914d\u7f6e\u903b\u8f91\u770b\uff0cPandl<\/span>\u4ecd\u628a<\/span>BTC<\/span>\u653e\u5728\u6700\u6838\u5fc3\u7684\u4f4d\u7f6e\u3002\u539f\u56e0\u5e76\u4e0d\u8907<\/span>\u6742\uff0c\u5728\u503a\u52a1\u6269\u5f20\u3001\u8d22\u653f\u8d64\u5b57\u6269\u5927\u3001\u8d27\u5e01\u8d2c\u503c\u98ce\u9669\u4e0a\u5347\u7684\u80cc\u666f\u4e0b\uff0c\u6295\u8d44\u4eba\u66f4\u503e\u5411\u589e\u52a0\u53ef\u643a\u5e26\u3001\u53ef\u8f6c\u79fb\u3001\u5177\u7a00\u7f3a\u6027\u60f3\u50cf\u7684\u8d44\u4ea7\u6bd4\u91cd\u3002\u5b8f\u89c2\u5931\u8861\u6ca1\u6709\u660e\u663e\u4fee\u5fa9\u8ff9\u8c61\uff0c\u4ee3\u8868\u8fd9\u79cd\u914d\u7f6e\u884c\u4e3a\u66f4\u53ef\u80fd\u662f\u4e00\u6bb5\u5ef6\u7eed\u6027\u7684\u8d8b\u52bf\uff0c\u800c\u975e\u5355\u4e00\u5468\u671f\u7684\u77ed\u4fc3\u4ea4\u6613\u3002<\/p>\n \u8fd9\u4e5f\u89e3\u91ca\u4e86\u4e3a\u4f55\u7070\u5ea6\u7684\u53d9\u4e8b\u5e76\u975e\u628a\u91cd\u5fc3\u653e\u5728\u300c\u54ea\u4e2a\u65b0\u6982\u5ff5\u5c06\u5f15\u7206\u300d\u4e0a\uff0c\u800c\u662f\u5f3a\u8c03BTC<\/span>\u4f5c<\/span>\u4e3a\u4ef7\u503c\u50a8\u5b58\u5de5\u5177\u7684\u5e95\u5c42\u9700\u6c42\u3002\u5f53\u5e02\u573a\u5728\u98ce\u9669\u4e0e\u6d41\u52a8\u6027\u4e4b\u95f4\u6446\u76ea\uff0c\u6700\u5148\u88ab\u9a8c\u8bc1\u7684\u5f80\u5f80\u662f\u6d41\u52a8\u6027\u6700\u597d\u3001\u5171\u8bc6\u6700\u5e7f\u7684\u8d44\u4ea7\uff0cBTC<\/span>\u5929\u7136\u53d7\u76ca\u3002<\/span><\/p>\n Pandl<\/span>\u4ee5<\/span>\u65f6\u95f4\u8f74\u56de\u987e\u76d1\u7ba1\u6f14\u8fdb\uff0c\u80cc\u540e\u60f3\u4f20\u8fbe\u7684\u662f\u5236\u5ea6\u6b63\u5728\u8865\u9f50\u62fc\u56fe\u3002\u4ece2023<\/span>\u5e74\u7070\u5ea6\u5728\u6bd4\u7279<\/span>\u5e01ETP<\/span>\u8bc9\u8bbc\u4e2d\u80dc\u8bc9\uff0c\u52302024<\/span>\u5e74\u6bd4\u7279<\/span>\u5e01\u4e0e\u4ee5\u592a\u5e01ETP<\/span>\u4e0a\u5e02\uff0c\u518d\u5230<\/span>2025<\/span>\u5e74\u7f8e\u56fd\u901a<\/span>\u8fc7\u300aGENIUS Act<\/span>\u300b\u7b49\u6cd5<\/span>\u89c4\u8c03\u6574\uff0c\u76d1\u7ba1\u65b9\u5411\u5448\u73b0\u7531\u5bf9\u6297\u8d70\u5411\u6846\u67b6\u5316\u3001\u7531\u96f6\u6563\u8d70\u5411\u53ef\u9884\u671f\u7684\u8def\u5f84\u3002<\/p>\n \u8fdb\u51652026<\/span>\u5e74\uff0c\u7070\u5ea6\u62bc\u6ce8\u7684\u7126\u70b9\u843d\u5728\u7f8e\u56fd\u56fd\u4f1a\u63a8<\/span>\u8fdb\u52a0\u5bc6\u5e02\u573a\u7ed3\u6784\u7acb\u6cd5\uff0c\u76ee\u6807\u662f\u5efa\u7acb\u66f4\u5b8c\u6574\u7684\u8054\u90a6\u5c42\u7ea7\u76d1\u7ba1\u67b6\u6784\u3002\u4e00\u65e6\u6846\u67b6\u6e05\u6670\uff0c\u673a\u6784\u7684\u98ce\u63a7\u4e0e\u5408\u89c4\u6210\u672c\u4f1a\u4e0b\u964d\uff0c\u4ea7\u54c1\u8bbe\u8ba1\u4e5f\u66f4\u80fd\u89c4\u6a21\u5316\uff0c\u5e02\u573a\u7684\u5b9a\u4ef7\u673a\u5236\u81ea\u7136\u66f4\u63a5\u8fd1\u6210\u719f\u8d44\u672c\u5e02\u573a\uff0c\u800c\u975e\u5b8c\u5168\u4f9d\u8d56\u60c5\u7eea\u4e0e\u53d9\u4e8b\u3002<\/p>\n Pandl<\/span>\u63d0\u5230\u5e02<\/span>\u573a\u7ed3\u6784\u6cd5\u6848\u66fe\u56e0\u653f\u5e9c\u5173\u95e8\u7b49\u56e0\u7d20\u5ef6\u5b95\uff0c\u4f46\u8de8\u515a\u6d3e\u534f\u5546\u4ecd\u5728\u63a8\u8fdb\uff0c\u5e76\u9884\u671f2026<\/span>\u5e74\u521d\u6709\u673a\u4f1a\u91cd\u56de\u7acb\u6cd5<\/span>\u8f68\u9053\u3002\u7070\u5ea6\u5728\u610f\u7684\u4e0d\u53ea\u662f\u6cd5\u6848\u672c\u8eab\uff0c\u800c\u662f\u52a0\u5bc6\u8bae\u9898\u80fd\u5426\u7ef4\u6301\u8de8\u515a\u6d3e\u6027\u3002\u82e5\u52a0\u5bc6\u88ab\u62c9\u8fdb\u9009\u4e3e\u5e74\u7684\u9ad8\u5ea6\u653f\u6cbb\u5316\u53d9\u4e8b\uff0c\u76d1\u7ba1\u8282\u594f\u4e0e\u5e02\u573a\u98ce\u9669\u6ea2\u4ef7\u90fd\u53ef\u80fd\u4e0a\u5347\uff0c\u60c5\u7eea\u4e5f\u66f4\u5bb9\u6613\u653e\u5927\u3002<\/p>\n 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\u5728\u4ef7\u683c<\/span>\u9884\u671f\u4e0a\uff0c\u7070\u5ea6\u8ba4\u4e3aBTC<\/span>\u6709\u673a\u4f1a\u5728<\/span>2026<\/span>\u5e74\u4e0a\u534a\u5e74\u518d<\/span>\u521b\u65b0\u9ad8\u3002\u63a8\u52a8\u56e0\u7d20\u5305\u62ec\u7f8e\u5143\u8d70\u5f31\u9884\u671f\u3001\u964d\u606f\u73af\u5883\uff0c\u4ee5\u53ca\u9ec4\u91d1\u3001\u767d\u94f6\u7b49\u4ef7\u503c\u50a8\u5b58\u8d44\u4ea7\u504f\u5f3a\u6240\u5e26\u6765\u7684\u8d44\u4ea7\u8f6e\u52a8\u6548\u5e94\u3002\u5f53\u4f20\u7edf\u907f\u9669\u8d44\u4ea7\u8d70\u5f3a\uff0c\u5e02\u573a\u5bf9\u300c\u4ef7\u503c\u50a8\u5b58\u300d\u8fd9\u6761\u7ebf\u7684\u654f\u611f\u5ea6\u63d0\u5347\uff0cBTC<\/span><\/a>\u66f4\u5bb9\u6613\u88ab<\/span>\u7eb3\u5165\u540c\u4e00\u5957\u914d\u7f6e\u6846\u67b6\u4e2d\u3002<\/p>\n 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Pandl\u6307\u51fa\uff0c\u968f\u7740<\/span>SEC\u63d0\u4f9b\u901a\u7528\u4e0a\u5e02<\/span>\u6807\u51c6\uff0c\u52a0\u5bc6<\/span>ETF\u63a8\u51fa\u901f\u5ea6\u660e<\/span>\u663e\u52a0\u5feb\u3002\u7070\u5ea6\u4e5f\u5df2\u9646\u7eed\u63a8\u51fa<\/span>Solana(\u542b<\/span>\u8d28\u62bc<\/span>)\u3001<\/span>XRP\u3001<\/span>Dogecoin\u4e0e<\/span>Chainlink ETF\uff0c\u5e76<\/span>\u9884\u671f<\/span>2026\u5e74\u4f1a\u6709\u66f4\u591a\u5177<\/span>\u5b9e\u9645\u5e94\u7528\u4e0e\u673a\u6784\u9700\u6c42\u7684\u4e3b\u6d41\u4ee3\u5e01\u7eb3\u5165\u4ea7\u54c1\u7ebf\u3002<\/span><\/p>\n 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\u81f3\u4e8e\u6570\u4f4d<\/span>\u8d44\u4ea7\u8d22\u5e93(DAT)<\/span>\u8bae\u9898\uff0cPandl<\/span>\u5224\u65ad\u5176<\/span>\u8fd0\u4f5c\u6a21\u5f0f\u8f83\u63a5\u8fd1\u5c01\u95ed\u578b\u57fa\u91d1\uff0c\u4ea4\u6613\u9891\u7387\u4f4e\uff0c\u5bf9\u5e02\u573a\u4ef7\u683c\u7684\u8fb9\u9645\u5f71\u54cd\u6709\u9650\u3002\u5b83\u4ecd\u80fd\u6ee1\u8db3\u90e8\u5206\u6295\u8d44\u4eba\u900f\u8fc7\u80a1\u7968\u7ba1\u9053\u914d\u7f6e\u52a0\u5bc6\u8d44\u4ea7\u7684\u9700\u6c42\uff0c\u4f46\u7070\u5ea6\u503e\u5411\u628a\u5b83\u653e\u5728\u6b21\u8981\u4f4d\u7f6e\uff0c\u8ba4\u4e3a2026<\/span>\u5e74\u4e0d\u592a\u53ef\u80fd\u6210<\/span>\u4e3a\u5e02\u573a\u4e3b\u8981\u63a8\u52a8\u529b\u91cf\u3002<\/p>\n \u7070\u5ea6\u770b\u597d\u6bd4\u7279<\/span>\u5e01\u4e0a\u534a\u5e74\u521b\u65b0\u9ad8\uff0c\u4e5f\u5e26\u52a8Layer 2<\/span>\u9879\u76ee\u53d7\u5230\u5e02\u573a\u5173\u6ce8\uff0c\u5176\u4e2dBitcoin Hyper<\/span>\u66f4<\/span>\u83b7\u5f97\u8d85\u8fc73,000<\/span>\u7f8e\u5143<\/span>\u8d44\u91d1\u6d41\u5165\u3002<\/p>\n Bitcoin Hyper\uff08$HYPER\uff09<\/a>\u4ee3\u5e01\u7684\u9884\u552e\u5728\u5c1a\u672a\u7ed3\u675f\u524d\u5df2\u7d2f\u79ef\u7a81\u78343,000\u4e07\u7f8e\u5143\uff0c\u8fd9\u4e2a\u6570\u5b57\u4e0d\u4ec5\u4ee3\u8868\u8d44\u91d1\u9ad8\u5ea6\u96c6\u4e2d\uff0c\u4e5f\u663e\u793a\u51fa\u6bd4\u7279\u5e01Layer2\u53d9\u4e8b\u57282025\u7684\u5f3a\u52bf\u56de\u5f52\u3002\u5176\u91c7\u7528Solana\u865a\u62df\u673a\u8bbe\u8ba1\uff0c\u4f7f\u6bd4\u7279\u5e01\u4e3b\u7f51\u80fd\u9996\u6b21\u4ee5\u6781\u4f4e\u6210\u672c\u4e0e\u9ad8\u901f\u5ea6\u5904\u7406\u667a\u80fd\u5408\u7ea6\u3001\u6e38\u620f\u3001\u652f\u4ed8\u4e0e\u6a21\u56e0\u76f8\u5173\u5e94\u7528\u3002\u8fd9\u79cd\u7ed3\u6784\u4e0a\u7684\u878d\u5408\uff0c\u4f7f\u6bd4\u7279\u5e01\u957f\u671f\u4ee5\u6765\u7684\u4e0d\u53ef\u7f16\u7a0b\u9650\u5236\u5f97\u5230\u7a81\u7834\uff0c\u8ba9BTC\u771f\u6b63\u5177\u5907\u8de8\u94fe\u4ef7\u503c\u6355\u6349\u80fd\u529b\u3002<\/p>\n\u5b8f\u89c2\u5931\u8861\u5ef6\u7eed\uff0cBTC\u4ecd\u662f\u8d44\u91d1\u914d\u7f6e\u7684\u6838\u5fc3\u951a\u70b9<\/span><\/h2>\n
\u76d1\u7ba1\u65f6\u95f4\u8f74\u6210\u5f62\uff0c\u7f8e\u56fd\u5e02\u573a\u7ed3\u6784\u7acb\u6cd5\u88ab\u89c6\u4e3a\u5173\u952e\u652f\u6491<\/span><\/h2>\n
\u8de8\u515a\u6d3e\u5171\u8bc6\u4e0e\u4f01\u4e1a\u4ee3\u5e01\u5316\u60f3\u50cf\uff0c\u53ef\u80fd\u6539\u5199\u4f9b\u7ed9\u4fa7\u7ed3\u6784<\/span><\/h2>\n
\u4ef7\u683c\u8def\u5f84\u504f\u6b63\u5411\uff0cBTC\u4e0a\u534a\u5e74\u521b\u9ad8\u53d6\u51b3\u4e8e\u76d1\u7ba1\u80fd\u5426\u7eed\u63a8<\/span><\/h2>\n
ETF\u7248\u56fe\u6269\u5f20\u4e0e\u8d28\u62bc\u5dee\u5f02\u5316\uff0c\u4ea7\u54c1\u7ade\u4e89\u8fdb\u5165\u65b0\u9636\u6bb5<\/span><\/h2>\n
DAT\u70ed\u5ea6\u964d\u6e29\uff0c2026\u5e74\u66f4\u50cf\u8fb9\u9645\u9898\u6750\u800c\u975e\u4e3b\u5f15\u64ce<\/span><\/h2>\n
Bitcoin Hyper\u52a0\u901f\u5d1b\u8d77\u5f15\u7206Layer2\u65b0\u53d9\u4e8b<\/span><\/h2>\n
<\/p>\n