{"id":1445,"date":"2026-03-31T08:49:30","date_gmt":"2026-03-31T00:49:30","guid":{"rendered":"https:\/\/www.yqcsfz.com\/?p=1445"},"modified":"2026-03-31T08:49:30","modified_gmt":"2026-03-31T00:49:30","slug":"arthur-hayes-%e6%9c%80%e6%96%b0%e6%96%87%e7%ab%a0%ef%bc%9a%e5%a6%82%e6%9e%9c-btc-%e8%b7%8c%e8%87%b3-8-%e4%b8%87%e7%be%8e%e5%85%83%ef%bc%8c%e5%b0%86%e6%98%af%e7%bb%9d%e4%bd%b3%e5%85%a5%e5%9c%ba","status":"publish","type":"post","link":"https:\/\/www.manwah.net\/?p=1445","title":{"rendered":"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a"},"content":{"rendered":"<div class=\"thumbnail-container animate-lazy\"><img decoding=\"async\" loading=\"lazy\" width=\"750\" height=\"375\" class=\"attachment-jnews-750x375 size-jnews-750x375 lazyload wp-post-image\" alt=\"Arthur Hayes \u6700\u65b0\u64b0\u6587\uff1a\u8054\u51c6\u4f1a\u8d25\u5c40\u5df2\u5b9a\uff0c\u6bd4\u7279\u5e01\u5c06\u6210\u82f1\u96c4\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2023\/08\/1x-1-2-750x375.jpeg\" data-srcset=\"https:\/\/blockcast.it\/wp-content\/uploads\/2023\/08\/1x-1-2-750x375.jpeg 750w, https:\/\/blockcast.it\/wp-content\/uploads\/2023\/08\/1x-1-2-360x180.jpeg 360w, https:\/\/blockcast.it\/wp-content\/uploads\/2023\/08\/1x-1-2-1140x570.jpeg 1140w\" data-sizes=\"auto\" data-expand=\"700\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe\" \/><\/div>\n<\/div>\n<div class=\"entry-content no-share\">\n<div class=\"jeg_share_button share-float jeg_sticky_share clearfix share-monocrhome\">\n<div class=\"jeg_share_float_container\"><\/div>\n<\/p><\/div>\n<div class=\"content-inner \">\n<p><strong>\u4f5c\u8005\uff1aArthur Hayes<\/strong><\/p>\n<p><strong>\u539f\u6587\u6807\u9898\uff1aSnow Forecast<\/strong><\/p>\n<hr \/>\n<p>\u53c8\u5230\u4e86\u6211\u626e\u6f14\u4e1a\u4f59\u6c14\u8c61\u5b66\u5bb6\u7684\u65f6\u5019\u4e86\u3002\u8bf8\u5982\u62c9\u5c3c\u5a1c\u548c\u5384\u5c14\u5c3c\u8bfa\u4e4b\u7c7b\u7684\u6982\u5ff5\u6d8c\u5165\u6211\u7684\u8bcd\u6c47\u8868\u3002<\/p>\n<p>\u9884\u6d4b\u98ce\u66b4\u7684\u98ce\u5411\u4e0e\u964d\u96ea\u91cf\u4e00\u6837\u91cd\u8981\uff0c\u5b83\u51b3\u5b9a\u4e86\u54ea\u4e9b\u5761\u9762\u9002\u5408\u6ed1\u96ea\u3002\u6211\u7528\u6211\u5bf9\u5929\u6c14\u6a21\u5f0f\u7684\u7c97\u6d45\u77e5\u8bc6\u6765\u9884\u6d4b\u65e5\u672c\u5317\u6d77\u9053\u7684\u79cb\u5b63\u4f55\u65f6\u7ed3\u675f\uff0c\u51ac\u5b63\u4f55\u65f6\u5f00\u59cb\u3002<\/p>\n<p>\u6211\u4e0e\u5176\u4ed6\u5f53\u5730\u7684\u6ed1\u96ea\u7231\u597d\u8005\u8ba8\u8bba\u6211\u68a6\u60f3\u4e2d\u7684\u7c89\u96ea\u5b63\u80fd\u63d0\u65e9\u5f00\u59cb\u3002\u6211\u4e0d\u518d\u9891\u7e41\u5237\u65b0\u6211\u6700\u559c\u6b22\u7684\u52a0\u5bc6\u4ea4\u6613\u5e94\u7528\uff0c\u73b0\u5728\u6211\u5237\u6700\u591a\u7684\u5e94\u7528\u7a0b\u5f0f\u662f Snow-Forecast \u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-132171\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_5DhV19gSxFbEO3Cl.webp\"  width=\"340\" height=\"657\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe1\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe1\" \/><\/p>\n<p>\u968f\u8457\u6570\u636e\u70b9\u5f00\u59cb\u8fdb\u5165\uff0c\u6211\u5fc5\u987b\u5728\u8d44\u8baf\u4e0d\u5b8c\u6574\u7684\u60c5\u51b5\u4e0b\u51b3\u5b9a\u4f55\u65f6\u4e0a\u96ea\u9053\u3002\u6709\u65f6\u76f4\u5230\u7a7f\u4e0a\u6ed1\u96ea\u677f\u7684\u524d\u4e00\u5929\uff0c\u624d\u77e5\u9053\u5929\u6c14\u6a21\u5f0f\u4f1a\u662f\u4ec0\u4e48\u6837\u5b50\u3002<\/p>\n<p>\u51e0\u4e2a\u96ea\u5b63\u524d\uff0c\u6211 12 \u6708\u4e2d\u65ec\u5230\u8fbe\u65f6\uff0c\u53d1\u73b0\u5c71\u4e0a\u88ab\u6ce5\u571f\u8986\u76d6\u3002\u53ea\u6709\u4e00\u6761\u7f06\u8f66\u5f00\u653e\uff0c\u4e3a\u6570\u5343\u4e2a\u5174\u9ad8\u91c7\u70c8\u7684\u6ed1\u96ea\u7231\u597d\u8005\u4eec\u63d0\u4f9b\u670d\u52a1\u3002\u6392\u961f\u8981\u7b49\u51e0\u4e2a\u5c0f\u65f6\uff0c\u624d\u80fd\u6ed1\u4e00\u4e2a\u79ef\u96ea\u7a00\u5c11\u3001\u5e73\u5766\u7684\u521d\u7ea7\u5230\u4e2d\u7ea7\u5761\u3002\u7b2c\u4e8c\u5929\uff0c\u5929\u964d\u5927\u96ea\uff0c\u6211\u5728\u6211\u6700\u559c\u6b22\u7684\u90a3\u7247\u8986\u76d6\u8457\u6797\u95f4\u96ea\u9053\u7684\u6ed1\u96ea\u80dc\u5730\uff0c\u5ea6\u8fc7\u4e86\u53f2\u8bd7\u822c\u7684\u7c89\u96ea\u65e5\u4e4b\u4e00\u3002<\/p>\n<p>\u6bd4\u7279\u5e01\u662f\u5168\u7403\u6cd5\u5e01\u6d41\u52a8\u6027\u7684\u81ea\u7531\u5e02\u573a\u98ce\u5411\u6807\u3002 \u5b83\u7684\u4ea4\u6613\u53d6\u51b3\u4e8e\u5bf9\u672a\u6765\u6cd5\u5e01\u4f9b\u5e94\u7684\u9884\u671f\u3002\u6709\u65f6\u73b0\u5b9e\u7b26\u5408\u9884\u671f\uff0c\u6709\u65f6\u5219\u4e0d\u7136\u3002<\/p>\n<p>\u91d1\u94b1\u5c31\u662f\u653f\u6cbb\u3002\u800c\u77ac\u606f\u4e07\u53d8\u7684\u653f\u6cbb\u8a00\u8bba\u5f71\u54cd\u5e02\u573a\u5bf9\u672a\u6765\u6cd5\u5e01\u4f9b\u5e94\u7684\u9884\u671f\u3002<\/p>\n<p>\u7f8e\u56fd\u603b\u7edf\u4e00\u5929\u547c\u5401\u4ee5\u66f4\u5927\u89c4\u6a21\u3001\u66f4\u4f4e\u6210\u672c\u7684\u8d44\u91d1\u6765\u6cf5\u9ad8\u4ed6\u4eec\u6700\u7231\u652f\u6301\u8005\u7684\u8d44\u4ea7\uff0c\u53e6\u4e00\u5929\u53c8\u547c\u5401\u91c7\u53d6\u76f8\u53cd\u63aa\u65bd\u5bf9\u6297\u6467\u6bc1\u666e\u901a\u4eba\u53ca\u901a\u8d27\u81a8\u80c0\u3002<\/p>\n<p>\u4e0e\u79d1\u5b66\u4e00\u6837\uff0c\u5728\u4ea4\u6613\u4e2d\uff0c\u6301\u6709\u575a\u5b9a\u7684\u4fe1\u5ff5\uff0c\u4f46\u4fdd\u6301\u7075\u6d3b\u7684\u6001\u5ea6\u662f\u503c\u5f97\u7684\u3002<\/p>\n<p>\u5728\u7f8e\u56fd\u300c\u5927\u89c4\u6a21\u5173\u7a0e\u65e5\u300d\uff082025 \u5e74 4 \u6708 2 \u65e5\uff09\u7684\u60e8\u8d25\u4e4b\u540e\uff0c\u6211\u66fe\u547c\u5401\u53ea\u6da8\u4e0d\u8dcc\u3002<\/p>\n<p>\u6211\u76f8\u4fe1\u7f8e\u56fd\u603b\u7edf\u5ddd\u666e\u548c\u4ed6\u7684\u8d22\u653f\u90e8\u957f\u300c\u6c34\u725b\u6bd4\u5c14\u300d\u8d1d\u68ee\u7279\uff08Buffalo Bill Bessent\uff09\u5438\u53d6\u4e86\u6559\u8bad\uff0c\u4e0d\u518d\u8bd5\u56fe\u8fc7\u5feb\u5730\u6539\u53d8\u4e16\u754c\u7684\u91d1\u878d\u548c\u8d38\u6613\u64cd\u4f5c\u7cfb\u7edf\u3002<\/p>\n<p>\u4e3a\u4e86\u633d\u56de\u4eba\u6c14\uff0c\u4ed6\u4eec\u4f1a\u5411\u4ed6\u4eec\u7684\u652f\u6301\u8005\uff08\u8fd9\u4e9b\u4eba\u62e5\u6709\u5927\u91cf\u7684\u623f\u4ea7\u3001\u80a1\u7968\u548c\u52a0\u5bc6\u8d27\u5e01\u7b49\u91d1\u878d\u8d44\u4ea7\uff09\u53d1\u653e\u597d\u5904\uff0c\u8fd9\u4e9b\u597d\u5904\u662f\u7528\u5370\u51fa\u6765\u7684\u94b1\u8d44\u52a9\u7684\u3002<\/p>\n<p>4 \u6708 9 \u65e5\uff0c\u5ddd\u666e\u300cTaco&#8217;d\u300d\uff08\u5c48\u670d\uff09\uff0c\u5ba3\u5e03\u5173\u7a0e\u4f11\u6218\uff0c\u4e00\u573a\u770b\u4f3c\u5927\u8427\u6761\u5f00\u7aef\u7684\u5371\u673a\u53d8\u6210\u4e86\u4eca\u5e74\u6700\u4f73\u7684\u4e70\u5165\u673a\u4f1a\u3002\u6bd4\u7279\u5e01\u4e0a\u6da8\u4e86 21%\uff0c\u90e8\u5206\u5c71\u5be8\u5e01\uff08\u4e3b\u8981\u662f\u4ee5\u592a\u5e01\uff09\u4e5f\u968f\u4e4b\u4e0a\u6da8\uff0c\u6bd4\u7279\u5e01\u7684\u4e3b\u5bfc\u5730\u4f4d\u4ece 63% \u4e0b\u964d\u5230 59% \u8bc1\u660e\u4e86\u8fd9\u4e00\u70b9\u3002<\/p>\n<p>\u7136\u800c\uff0c\u6700\u8fd1\uff0c\u6bd4\u7279\u5e01\u9690\u542b\u7684\u7f8e\u5143\u6d41\u52a8\u6027\u9884\u62a5\u6076\u5316\u4e86\u3002\u81ea 10 \u6708\u521d\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u4ee5\u6765\uff0c\u6bd4\u7279\u5e01\u5df2\u4e0b\u8dcc 25%\uff0c\u8bb8\u591a\u5c71\u5be8\u5e01\u53d7\u5230\u7684\u6253\u51fb\u6bd4\u8d44\u672c\u5bb6\u5728\u7ebd\u7ea6\u5e02\u957f\u9009\u4e3e\u4e2d\u53d7\u5230\u7684\u6253\u51fb\u8fd8\u8981\u4e25\u91cd\u3002<\/p>\n<h3>\u4ec0\u4e48\u6539\u53d8\u4e86\uff1f<\/h3>\n<p>\u5ddd\u666e\u653f\u5e9c\u7684\u8a00\u8bba\u6ca1\u6709\u6539\u53d8\u3002\u5ddd\u666e\u4ecd\u7136\u62a8\u51fb\u8054\u51c6\u4f1a\u5c06\u5229\u7387\u4fdd\u6301\u5f97\u8fc7\u9ad8\u3002\u4ed6\u548c\u4ed6\u7684\u526f\u624b\u4eec\u7ee7\u7eed\u8c08\u8bba\u900f\u8fc7\u5404\u79cd\u65b9\u5f0f\u6cf5\u9ad8\u623f\u5730\u4ea7\u5e02\u573a\u3002<\/p>\n<p>\u800c\u6700\u91cd\u8981\u7684\u662f\uff0c\u5728\u6bcf\u4e00\u4e2a\u8f6c\u6298\u70b9\uff0c\u5ddd\u666e\u90fd\u5bf9\u4e2d\u56fd\u8ba9\u6b65\uff0c\u4ed6\u63a8\u8fdf\u5f3a\u5236\u626d\u8f6c\u8fd9\u4e24\u4e2a\u7ecf\u6d4e\u5de8\u5934\u4e4b\u95f4\u8d38\u6613\u548c\u91d1\u878d\u4e0d\u5e73\u8861\u7684\u5c40\u9762\uff0c\u56e0\u4e3a\u8fd9\u79cd\u91d1\u878d\u548c\u653f\u6cbb\u75db\u82e6\u5bf9\u4e8e\u6bcf\u4e24\u5230\u56db\u5e74\u5fc5\u987b\u9762\u5bf9\u9009\u6c11\u7684\u653f\u5ba2\u6765\u8bf4\u5b9e\u5728\u96be\u4ee5\u627f\u53d7\u3002<\/p>\n<p>\u6ca1\u6709\u6539\u53d8\u7684\u3001\u4f46\u73b0\u5728\u5e02\u573a\u8d4b\u4e88\u5176\u6bd4\u653f\u5ba2\u8a00\u8f9e\u66f4\u5927\u6743\u91cd\u7684\uff0c\u662f\u7f8e\u5143\u6d41\u52a8\u6027\u7684\u6536\u7f29\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-132170\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_wkh19E_9xyxRxEPB.webp\"  width=\"625\" height=\"304\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe2\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe2\" \/><\/p>\n<p>\u7f8e\u5143\u6d41\u52a8\u6027\u6307\u6570\uff08\u767d\u8272\u7ebf\u6761\uff09\u81ea 2025 \u5e74 4 \u6708 9 \u65e5\u4ee5\u6765\u4e0b\u8dcc\u4e86 10%\uff0c\u800c\u6bd4\u7279\u5e01\uff08\u91d1\u8272\u7ebf\u6761\uff09\u4e0a\u6da8\u4e86 12% \u3002\u8fd9\u79cd\u80cc\u79bb\u90e8\u5206\u662f\u7531\u4e8e\u5ddd\u666e\u653f\u5e9c\u91ca\u653e\u7684\u6d41\u52a8\u6027\u79ef\u6781\u8a00\u8bba\u3002\u90e8\u5206\u539f\u56e0\u662f\u6563\u6237\u6295\u8d44\u8005\u5c06\u6bd4\u7279\u5e01 ETF \u7684\u8d44\u91d1\u6d41\u5165\u548c DAT mNAV \u6ea2\u4ef7\u89c6\u4e3a\u673a\u6784\u6295\u8d44\u8005\u5bfb\u6c42\u6bd4\u7279\u5e01\u655e\u53e3\u7684\u8bc1\u660e\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-132169\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_M7LKGCMCmIWHxcDo.webp\"  width=\"625\" height=\"350\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe3\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe3\" \/><\/p>\n<p>\u53d9\u4e8b\u662f\u8fd9\u6837\u7684\uff0c\u673a\u6784\u6295\u8d44\u8005\u6d8c\u5165\u4e86\u6bd4\u7279\u5e01 ETF \u3002\u6b63\u5982\u4f60\u6240\u770b\u5230\u7684\uff0c4 \u6708\u5230 10 \u6708\u671f\u95f4\u7684\u51c0\u6d41\u5165\u4e3a\u6bd4\u7279\u5e01\u63d0\u4f9b\u4e86\u6301\u7eed\u7684\u4e70\u76d8\uff0c\u5c3d\u7ba1\u7f8e\u5143\u6d41\u52a8\u6027\u6709\u6240\u4e0b\u964d\u3002\u6211\u5fc5\u987b\u5bf9\u8fd9\u5f20\u56fe\u8868\u9644\u5e26\u4e00\u4e2a\u8b66\u544a\u3002\u6700\u5927\u7684 ETF\uff08\u8d1d\u83b1\u5fb7 IBIT US\uff09\u7684\u6700\u5927\u6301\u6709\u8005\u5c06 ETF \u4f5c\u4e3a\u57fa\u5dee\u4ea4\u6613\uff08basis trade\uff09\u7684\u4e00\u90e8\u5206\uff1b\u4ed6\u4eec\u5e76\u975e\u770b\u591a\u6bd4\u7279\u5e01\u3002<\/p>\n<p>\u4ed6\u4eec\u900f\u8fc7\u505a\u7a7a CME \u4e0a\u5e02\u7684\u6bd4\u7279\u5e01\u671f\u8d27\u5408\u7ea6\uff0c\u540c\u65f6\u4e70\u5165 ETF\uff0c\u6765\u8d5a\u53d6\u4e24\u8005\u4e4b\u95f4\u7684\u4ef7\u5dee\u3002<\/p>\n<p>\u8fd9\u79cd\u505a\u6cd5\u8d44\u672c\u6548\u7387\u9ad8\uff0c\u56e0\u4e3a\u4ed6\u4eec\u7684\u7ecf\u7eaa\u4eba\u901a\u5e38\u5141\u8bb8\u4ed6\u4eec\u5c06 ETF \u4f5c\u4e3a\u62b5\u62bc\u54c1\uff0c\u5e76\u62b5\u62bc\u4ed6\u4eec\u7684\u7a7a\u5934\u671f\u8d27\u90e8\u4f4d\u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132168\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_pao9hElK8AEDeWKU.webp\"  width=\"624\" height=\"89\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe4\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe4\" \/><\/p>\n<p>\u8fd9\u4e9b\u662f IBIT US \u7684\u4e94\u4e2a\u6700\u5927\u6301\u6709\u8005\u3002\u4ed6\u4eec\u662f\u5927\u578b\u5bf9\u51b2\u57fa\u91d1\u6216\u4e13\u6ce8\u4e8e\u81ea\u8425\u4ea4\u6613\u7684\u6295\u8d44\u94f6\u884c\uff0c\u4f8b\u5982\u9ad8\u76db\u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132167\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_TrE4RIHGYCF_xcEr.webp\"  width=\"625\" height=\"350\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe5\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe5\" \/><\/p>\n<p>\u4e0a\u56fe\u663e\u793a\u4e86\u8fd9\u4e9b\u57fa\u91d1\u900f\u8fc7\u8d2d\u4e70 IBIT US \u548c\u51fa\u552e CME \u671f\u8d27\u5408\u7ea6\u6240\u83b7\u5f97\u7684\u5e74\u5316\u57fa\u5dee\u6536\u76ca\u3002<\/p>\n<p>\u867d\u7136\u4e0a\u9762\u7684\u4ea4\u6613\u6240\u662f\u5e01\u5b89\uff08Binance\uff09\uff0c\u4f46 CME \u7684\u5e74\u5316\u57fa\u5dee\u672c\u8d28\u4e0a\u662f\u76f8\u540c\u7684\u3002\u5f53\u57fa\u5dee\u660e\u663e\u9ad8\u4e8e\u8054\u90a6\u57fa\u91d1\u5229\u7387\u65f6\uff0c\u5bf9\u51b2\u57fa\u91d1\u5c06\u8702\u62e5\u800c\u5165\u8fdb\u884c\u4ea4\u6613\uff0c\u4ece\u800c\u4e3a ETF \u521b\u9020\u5927\u91cf\u4e14\u6301\u7eed\u7684\u51c0\u6d41\u5165\u3002<\/p>\n<p>\u8fd9\u7ed9\u90a3\u4e9b\u4e0d\u4e86\u89e3\u5e02\u573a\u5fae\u89c2\u7ed3\u6784\u7684\u4eba\u9020\u6210\u4e86\u9519\u89c9\uff0c\u8ba4\u4e3a\u673a\u6784\u6295\u8d44\u8005\u5bf9\u6301\u6709\u6bd4\u7279\u5e01\u655e\u53e3\u62b1\u6709\u5de8\u5927\u5174\u8da3\uff0c\u800c\u5b9e\u9645\u4e0a\u4ed6\u4eec\u6839\u672c\u4e0d\u5173\u5fc3\u6bd4\u7279\u5e01\uff0c\u4ed6\u4eec\u53ea\u662f\u5728\u6211\u4eec\u7684\u6c99\u7bb1\u4e2d\u73a9\u800d\uff0c\u4ee5\u8d5a\u53d6\u6bd4\u8054\u90a6\u57fa\u91d1\u5229\u7387\u9ad8\u51fa\u51e0\u4e2a\u767e\u5206\u70b9\u7684\u989d\u5916\u6536\u76ca\u3002\u5f53\u57fa\u5dee\u4e0b\u964d\u65f6\uff0c\u4ed6\u4eec\u4f1a\u8fc5\u901f\u629b\u552e\u90e8\u4f4d\u3002\u6700\u8fd1\u968f\u8457\u57fa\u5dee\u4e0b\u964d\uff0cETF \u7efc\u5408\u4f53\u8bb0\u5f55\u4e86\u5de8\u989d\u51c0\u6d41\u51fa\u3002<\/p>\n<p>\u73b0\u5728\u6563\u6237\u76f8\u4fe1\u8fd9\u4e9b\u673a\u6784\u6295\u8d44\u8005\u4e0d\u559c\u6b22\u6bd4\u7279\u5e01\uff0c\u4ece\u800c\u5f62\u6210\u4e86\u4e00\u4e2a\u8d1f\u56de\u9988\u5faa\u73af\uff0c\u4fc3\u4f7f\u4ed6\u4eec\u5356\u51fa\uff0c\u8fd9\u53c8\u964d\u4f4e\u4e86\u57fa\u5dee\uff0c\u6700\u7ec8\u5bfc\u81f4\u66f4\u591a\u7684\u673a\u6784\u6295\u8d44\u8005\u629b\u552e ETF \u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132166\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_RzBKl46pm42Rzyh0.webp\"  width=\"625\" height=\"195\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe6\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe6\" \/><\/p>\n<p>\u6570\u4f4d\u8d44\u4ea7\u4fe1\u6258\uff08DAT\uff09\u516c\u53f8\u4e3a\u673a\u6784\u6295\u8d44\u8005\u63d0\u4f9b\u4e86\u53e6\u4e00\u79cd\u83b7\u53d6\u6bd4\u7279\u5e01\u655e\u53e3\u7684\u65b9\u5f0f\u3002 Strategy\uff08\u80a1\u7968\u4ee3\u53f7\uff1aMSTR US\uff09\u662f\u6301\u6709\u6bd4\u7279\u5e01\u7684\u6700\u5927 DAT \u3002\u5f53\u5176\u80a1\u4ef7\u76f8\u5bf9\u4e8e\u5176\u6301\u6709\u7684\u6bd4\u7279\u5e01\u51fa\u73b0\u5927\u5e45\u6ea2\u4ef7\u65f6\uff08\u79f0\u4e3a mNAV\uff09\uff0c\u8be5\u516c\u53f8\u53ef\u4ee5\u53d1\u884c\u80a1\u7968\u548c\u5176\u4ed6\u878d\u8d44\u65b9\u5f0f\u4ee5\u4f4e\u5ec9\u7684\u4ef7\u683c\u83b7\u53d6\u6bd4\u7279\u5e01\u3002\u968f\u8457\u6ea2\u4ef7\uff08Premium\uff09\u4e0b\u964d\u4e3a\u6298\u4ef7\uff0cStrategy \u83b7\u5f97\u6bd4\u7279\u5e01\u7684\u901f\u5ea6\u4e5f\u968f\u4e4b\u51cf\u6162\u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132165\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_Qufw6awM4WDEWAOX.webp\"  width=\"625\" height=\"197\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe7\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe7\" \/><\/p>\n<p>\u8fd9\u662f\u4e00\u5f20\u7d2f\u8ba1\u6301\u6709\u91cf\u56fe\u8868\uff0c\u800c\u4e0d\u662f\u8be5\u53d8\u6570\u7684\u53d8\u5316\u7387\uff0c\u4f46\u4f60\u53ef\u4ee5\u770b\u5230\uff0c\u968f\u8457 Strategy \u7684 mNAV \u6ea2\u4ef7\u6d88\u5931\uff0c\u5176\u6301\u6709\u91cf\u7684\u6210\u957f\u901f\u5ea6\u653e\u7f13\u3002<\/p>\n<p>\u5c3d\u7ba1\u4ece 4 \u6708 9 \u65e5\u81f3\u4eca\u7f8e\u5143\u6d41\u52a8\u6027\u6536\u7f29\uff0c\u4f46\u6bd4\u7279\u5e01 ETF \u7684\u6d41\u5165\u4ee5\u53ca DAT \u7684\u8d2d\u4e70\u4f7f\u6bd4\u7279\u5e01\u5f97\u4ee5\u6500\u5347\u3002\u4f46\u8fd9\u79cd\u5c40\u9762\u5df2\u7ecf\u7ed3\u675f\u3002<\/p>\n<p>\u57fa\u5dee\u4e0d\u518d\u8db3\u591f\u8bf1\u4eba\u4ee5\u7ef4\u6301\u673a\u6784\u6295\u8d44\u8005\u6301\u7eed\u8d2d\u4e70 ETF\uff0c\u800c\u4e14\u5927\u591a\u6570 DAT \u4ee5\u4f4e\u4e8e mNAV \u7684\u6298\u4ef7\u4ea4\u6613\uff0c\u6295\u8d44\u8005\u73b0\u5728\u4e5f\u56de\u907f\u8fd9\u4e9b\u6bd4\u7279\u5e01\u884d\u751f\u8bc1\u5238\u3002\u6ca1\u6709\u8fd9\u4e9b\u6d41\u91cf\u6765\u63a9\u76d6\u8d1f\u9762\u7684\u6d41\u52a8\u6027\u72b6\u51b5\uff0c\u6bd4\u7279\u5e01\u5fc5\u987b\u4e0b\u8dcc\u4ee5\u53cd\u6620\u5f53\u524d\u7684\u77ed\u671f\u62c5\u5fe7\uff0c\u5373\u7f8e\u5143\u6d41\u52a8\u6027\u5c06\u6536\u7f29\u6216\u589e\u957f\u901f\u5ea6\u4e0d\u5982\u653f\u5ba2\u627f\u8bfa\u7684\u90a3\u4e48\u5feb\u3002<\/p>\n<h3>\u62ff\u51fa\u8bc1\u636e\u6765<\/h3>\n<p>\u73b0\u5728\u662f\u5ddd\u666e\u548c\u8d1d\u68ee\u7279\u62ff\u51fa\u8bc1\u636e\u6216\u95ed\u5634\u7684\u65f6\u5019\u4e86\u3002\u8981\u4e48\u4ed6\u4eec\u6709\u80fd\u529b\u8ba9\u8d22\u653f\u90e8\u51cc\u9a7e\u4e8e\u8054\u51c6\u4f1a\u4e4b\u4e0a\uff0c\u5236\u9020\u53e6\u4e00\u4e2a\u623f\u5730\u4ea7\u6ce1\u6cab\uff0c\u6d3e\u53d1\u66f4\u591a\u523a\u6fc0\u652f\u7968\u7b49\uff0c\u8981\u4e48\u4ed6\u4eec\u5c31\u662f\u4e00\u7fa4\u8f6f\u5f31\u65e0\u529b\u7684\u9a97\u5b50\u3002<\/p>\n<p>\u8ba9\u60c5\u51b5\u66f4\u52a0\u590d\u6742\u7684\u662f\uff0c\u84dd\u8425\u6c11\u4e3b\u515a\u4eba\u53d1\u73b0\uff08\u8fd9\u5e76\u4e0d\u5947\u602a\uff09\u4ee5\u5404\u79cd\u8d1f\u62c5\u80fd\u529b\u4e3a\u4e3b\u9898\u8fdb\u884c\u7ade\u9009\u662f\u4e00\u4e2a\u5236\u80dc\u7b56\u7565\u3002\u65e0\u8bba\u53cd\u5bf9\u515a\u80fd\u5426\u5151\u73b0\u8fd9\u4e9b\u627f\u8bfa\uff0c\u4f8b\u5982\u514d\u8d39\u516c\u8f66\u5361\u3001\u5927\u91cf\u7684\u79df\u91d1\u7ba1\u5236\u516c\u5bd3\u548c\u653f\u5e9c\u7ecf\u8425\u7684\u6742\u8d27\u5e97\uff0c\u90fd\u4e0d\u662f\u91cd\u70b9\u3002\u91cd\u70b9\u662f\u7f8e\u56fd\u9009\u6c11\u5e0c\u671b\u88ab\u503e\u542c\uff0c\u5e76\u4e14\u81f3\u5c11\u53ef\u4ee5\u81ea\u6b3a\u6b3a\u4eba\u5730\u76f8\u4fe1\u6709\u4eba\u5728\u4e3a\u4ed6\u4eec\u8457\u60f3\u3002\u4eba\u4eec\u4e0d\u5e0c\u671b\u5ddd\u666e\u548c\u4ed6\u7684\u300c\u8ba9\u7f8e\u56fd\u518d\u6b21\u4f1f\u5927\u300d\uff08MAGA\uff09\u652f\u6301\u8005\u7528\u5047\u65b0\u95fb\u6765\u7c89\u9970\u4ed6\u4eec\u6bcf\u5929\u770b\u5230\u548c\u611f\u53d7\u5230\u7684\u901a\u8d27\u81a8\u80c0\u3002<\/p>\n<p>\u4ed6\u4eec\u5e0c\u671b\u88ab\u503e\u542c\uff0c\u5c31\u50cf\u5ddd\u666e\u5728 2016 \u5e74\u548c 2020 \u5e74\u544a\u8bc9\u4ed6\u4eec\u4ed6\u5c06\u6253\u51fb\u5e76\u9a71\u9010\u300c\u6709\u8272\u4eba\u79cd\u300d\uff0c\u8fd9\u6837\u4ed6\u4eec\u7684\u9ad8\u85aa\u5de5\u4f5c\u5c31\u4f1a\u795e\u5947\u5730\u91cd\u65b0\u51fa\u73b0\u65f6\u4e00\u6837\u3002<\/p>\n<p>\u5bf9\u4e8e\u90a3\u4e9b\u62e5\u6709\u591a\u5e74\u671f\u5c55\u671b\u7684\u4eba\u6765\u8bf4\uff0c\u6cd5\u5e01\u521b\u9020\u901f\u5ea6\u4e0a\u7684\u8fd9\u4e9b\u77ed\u671f\u505c\u6ede\u65e0\u5173\u7d27\u8981\u3002\u5982\u679c\u7ea2\u8425\u5171\u548c\u515a\u4eba\u4e0d\u80fd\u5370\u51fa\u8db3\u591f\u7684\u94b1\uff0c\u80a1\u5e02\u548c\u503a\u5e02\u5c31\u4f1a\u5d29\u76d8\uff0c\u8fd9\u5c06\u8feb\u4f7f\u4e24\u515a\u4e2d\u90a3\u4e9b\u575a\u5b88\u6559\u6761\u7684\u4eba\u56de\u5f52\u5230\u5370\u949e\u7968\u7684\u6492\u65e6\u90aa\u6559\u3002<\/p>\n<p>\u5ddd\u666e\u662f\u4e00\u4f4d\u7cbe\u660e\u7684\u653f\u5ba2\uff0c\u4e0e\u524d\u7f8e\u56fd\u603b\u7edf\u62dc\u767b\u7c7b\u4f3c\u2014\u2014\u540e\u8005\u4e5f\u66fe\u9762\u4e34\u56e0\u65b0\u51a0\u523a\u6fc0\u63aa\u65bd\u5f15\u53d1\u7684\u901a\u81a8\u800c\u53d1\u51fa\u7684\u7c7b\u4f3c\u4e0d\u6ee1\u2014\u2014\u4ed6\u4f1a\u516c\u5f00\u6539\u53d8\u65b9\u5411\uff0c\u62a8\u51fb Fed \u662f\u56f0\u6270\u666e\u901a\u9009\u6c11\u7684\u901a\u8d27\u81a8\u80c0\u7684\u7f6a\u9b41\u7978\u9996\u3002\u4f46\u522b\u62c5\u5fc3\uff0c\u5ddd\u666e\u4e0d\u4f1a\u5fd8\u8bb0\u90a3\u4e9b\u4e3a\u7ade\u9009\u6d3b\u52a8\u63d0\u4f9b\u8d44\u91d1\u7684\u5bcc\u6709\u8d44\u4ea7\u6301\u6709\u8005\u3002\u300c\u6c34\u725b\u6bd4\u5c14\u300d\u8d1d\u68ee\u7279\u5c06\u63a5\u5230\u4e25\u683c\u547d\u4ee4\uff0c\u4ee5\u4e00\u822c\u4eba\u65e0\u6cd5\u7406\u89e3\u7684\u521b\u610f\u65b9\u5f0f\u5370\u949e\u7968\u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132164\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_hWuCBaLb12fPEuH2.webp\"  width=\"625\" height=\"345\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe8\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe8\" \/><\/p>\n<p>\u8fd8\u8bb0\u5f97 2022 \u5e74\u7684\u8fd9\u5f20\u5408\u7167\u5417\uff1f\u6211\u4eec\u6700\u559c\u6b22\u7684\u300c\u9a6c\u5c41\u7cbe\u300d\u8054\u51c6\u4f1a\u4e3b\u5e2d\u9c8d\u5c14\u5f53\u65f6\u53d7\u5230\u4e86\u524d\u603b\u7edf\u62dc\u767b\uff08Slow Joe Biden\uff09\u548c\u7f8e\u56fd\u8d22\u653f\u90e8\u957f\u53f6\u4f26\uff08Bad Gurl Yellen\uff09\u7684\u6559\u8bad\u3002\u62dc\u767b\u5411\u4ed6\u7684\u652f\u6301\u8005\u89e3\u91ca\u8bf4\uff0c\u9c8d\u5c14\u5c06\u7c89\u788e\u901a\u8d27\u81a8\u80c0\u3002\u7136\u540e\uff0c\u56e0\u4e3a\u4ed6\u9700\u8981\u63d0\u632f\u90a3\u4e9b\u8ba9\u4ed6\u4e0a\u53f0\u7684\u5bcc\u4eba\u7684\u91d1\u878d\u8d44\u4ea7\uff0c\u4ed6\u544a\u8bc9\u53f6\u4f26\u4e0d\u60dc\u4e00\u5207\u4ee3\u4ef7\uff0c\u64a4\u9500\u9c8d\u5c14\u6240\u6709\u7684\u5347\u606f\u548c\u8d44\u4ea7\u8d1f\u503a\u8868\u6536\u7f29\u3002<\/p>\n<p>\u53f6\u4f26\u53d1\u884c\u4e86\u6bd4\u7968\u636e\u6216\u503a\u5238\u66f4\u591a\u7684\u56fd\u5e93\u5238\uff0c\u4ece 2022 \u5e74\u7b2c\u4e09\u5b63\u5230 2025 \u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u8fd9\u4ece\u8054\u51c6\u4f1a\u7684\u53cd\u5411\u56de\u8d2d\u8ba1\u5212\u4e2d\u62bd\u8d70\u4e86 2.5 \u5146\u7f8e\u5143\uff0c\u4ece\u800c\u6cf5\u9ad8\u4e86\u80a1\u7968\u3001\u4f4f\u623f\u3001\u9ec4\u91d1\u548c\u52a0\u5bc6\u8d27\u5e01\u3002<\/p>\n<p>\u5bf9\u4e8e\u4e00\u822c\u9009\u6c11\u2014\u2014\u4ee5\u53ca\u5728\u5ea7\u7684\u4e00\u4e9b\u8bfb\u8005\u2014\u2014\u6211\u521a\u624d\u5199\u7684\u5185\u5bb9\u53ef\u80fd\u65e0\u5f02\u4e8e\u5929\u4e66\uff0c\u800c\u8fd9\u6b63\u662f\u5173\u952e\u6240\u5728\u3002\u4f60\u4eec\u5207\u8eab\u611f\u53d7\u5230\u7684\u901a\u8d27\u81a8\u80c0\uff0c\u6b63\u662f\u90a3\u4f4d\u58f0\u79f0\u5173\u5fc3\u89e3\u51b3\u8001\u767e\u59d3\u8d1f\u62c5\u7684\u653f\u6cbb\u5bb6\u4e00\u624b\u9020\u6210\u7684\u3002<\/p>\n<p>\u300c\u6c34\u725b\u6bd4\u5c14\u300d\u8d1d\u68ee\u7279\u5fc5\u987b\u65bd\u5c55\u7c7b\u4f3c\u7684\u9b54\u6cd5\u3002\u6211\u767e\u5206\u4e4b\u767e\u76f8\u4fe1\u4ed6\u4f1a\u8bbe\u8ba1\u51fa\u7c7b\u4f3c\u7684\u7ed3\u679c\u3002\u4ed6\u662f\u5386\u53f2\u4e0a\u6700\u61c2\u8d27\u5e01\u5e02\u573a\u7ba1\u9053\u548c\u8d27\u5e01\u4ea4\u6613\u7684\u5927\u5e08\u4e4b\u4e00\u3002<\/p>\n<h3>\u5c40\u52bf\u662f\u4ec0\u4e48<\/h3>\n<p>2023 \u5e74\u4e0b\u534a\u5e74\u548c 2025 \u5e74\u4e0b\u534a\u5e74\u7684\u5e02\u573a\u8bbe\u7f6e\u6709\u8457\u60ca\u4eba\u7684\u76f8\u4f3c\u4e4b\u5904\u3002\u503a\u52a1\u4e0a\u9650\u4e4b\u4e89\u5728\u4ef2\u590f\u7ed3\u675f\uff082023 \u5e74 6 \u6708 3 \u65e5\u548c 2025 \u5e74 7 \u6708 4 \u65e5\uff09\uff0c\u8feb\u4f7f\u8d22\u653f\u90e8\u91cd\u5efa\u4e00\u822c\u5e10\u6237\uff08TGA\uff09\uff0c\u4ece\u800c\u4ece\u7cfb\u7edf\u4e2d\u5438\u8d70\u6d41\u52a8\u6027\u3002<\/p>\n<p>2023 \u5e74\uff1a<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132163\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_6aZF-d-ueZrGhxh.webp\"  width=\"625\" height=\"302\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe9\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe9\" \/><\/p>\n<p>2025 \u5e74\uff1a<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132162\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_4-3hn0XF5A4cOTDM.webp\"  width=\"625\" height=\"306\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe10\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe10\" \/><\/p>\n<p>\u300c\u574f\u5973\u5b69\u300d\u53f6\u4f26\u53d6\u60a6\u4e86\u5979\u7684\u8001\u677f\u3002\u300c\u6c34\u725b\u6bd4\u5c14\u300d\u8d1d\u68ee\u7279\u80fd\u5426\u627e\u5230\u4ed6\u7684\u300cBB\u300d\u5e76\u4ee5\u4ffe\u65af\u9ea6\u5f0f\uff08Bismarck\uff09\u7684\u624b\u6bb5\u91cd\u5851\u5e02\u573a\uff0c\u4ee5\u4fbf\u5171\u548c\u515a\u4eba\u5728 2026 \u5e74\u4e2d\u671f\u9009\u4e3e\u4e2d\u83b7\u5f97\u6301\u6709\u91d1\u878d\u8d44\u4ea7\u7684\u9009\u6c11\u7684\u9009\u7968\uff1f<\/p>\n<p>\u4e3a\u4e86\u6d88\u9664\u4ed6\u4eec\u5141\u8bb8\u4fe1\u8d37\u6536\u7f29\u7684\u60f3\u6cd5\uff0c\u5e02\u573a\u4f1a\u63d0\u51fa\u4e00\u4e2a\u970d\u5e03\u68ee\u7684\u9009\u62e9\uff08Hobson&#8217;s Choice\uff09\u3002\u5728\u6295\u8d44\u8005\u610f\u8bc6\u5230\u77ed\u671f\u5185\u7981\u6b62\u5370\u949e\u540e\uff0c\u80a1\u7968\u548c\u503a\u5238\u4ef7\u683c\u4f1a\u8fc5\u901f\u4e0b\u8dcc\uff0c\u6b64\u65f6\u653f\u5ba2\u4eec\u8981\u4e48\u5370\u949e\u6765\u62ef\u6551\u652f\u6301\u66f4\u5e7f\u6cdb\u7ecf\u6d4e\u7684\u9ad8\u5ea6\u6760\u6746\u5316\u7684\u6cd5\u5e01\u91d1\u878d\u7cfb\u7edf\uff0c\u4f46\u8fd9\u4f1a\u5bfc\u81f4\u901a\u8d27\u81a8\u80c0\u518d\u6b21\u52a0\u901f\uff1b\u8981\u4e48\u5141\u8bb8\u4fe1\u8d37\u6536\u7f29\uff0c\u8fd9\u5c06\u6467\u6bc1\u5bcc\u6709\u7684\u8d44\u4ea7\u6301\u6709\u8005\uff0c\u5e76\u5bfc\u81f4\u5927\u89c4\u6a21\u5931\u4e1a\uff0c\u56e0\u4e3a\u8fc7\u5ea6\u6760\u6746\u5316\u7684\u4f01\u4e1a\u5fc5\u987b\u524a\u51cf\u4ea7\u51fa\u548c\u5c31\u4e1a\u3002<\/p>\n<p>\u901a\u5e38\uff0c\u540e\u8005\u5728\u653f\u6cbb\u4e0a\u662f\u66f4\u5bb9\u6613\u63a5\u53d7\u7684\uff0c\u56e0\u4e3a 1930 \u5e74\u4ee3\u5f0f\u7684\u5931\u4e1a\u548c\u91d1\u878d\u56f0\u5883\u6c38\u8fdc\u662f\u9009\u4e3e\u7684\u5931\u8d25\u8005\uff0c\u800c\u901a\u8d27\u81a8\u80c0\u662f\u4e00\u79cd\u65e0\u58f0\u7684\u6740\u624b\uff0c\u53ef\u4ee5\u900f\u8fc7\u5370\u949e\u8d44\u52a9\u7684\u5bf9\u7a77\u4eba\u7684\u8865\u8d34\u6765\u9690\u85cf\u3002<\/p>\n<p>\u5c31\u50cf\u6211\u5bf9\u5317\u6d77\u9053\u300c\u9020\u96ea\u673a\u300d\u7684\u4fe1\u5fc3\u4e00\u6837\uff0c\u6211\u767e\u5206\u4e4b\u767e\u76f8\u4fe1\u5ddd\u666e\u548c\u8d1d\u68ee\u7279\u5e0c\u671b\u4ed6\u4eec\u7684\u7ea2\u8425\u5171\u548c\u515a\u4eba\u7ee7\u7eed\u638c\u6743\uff0c<\/p>\n<p>\u56e0\u6b64\u4ed6\u4eec\u4f1a\u627e\u5230\u4e00\u79cd\u65b9\u6cd5\uff0c\u65e2\u80fd\u5728\u6253\u51fb\u901a\u8d27\u81a8\u80c0\u65b9\u9762\u8868\u73b0\u5f3a\u786c\uff0c\u53c8\u80fd\u5370\u51fa\u5fc5\u8981\u7684\u94b1\uff0c\u4ee5\u7ee7\u7eed\u652f\u6491\u7f8e\u56fd\u548c\u5168\u7403\u7ecf\u6d4e\u73b0\u72b6\u4e2d\u51ef\u56e0\u65af\u4e3b\u4e49\u7684\u300c\u90e8\u5206\u51c6\u5907\u91d1\u94f6\u884c\u300d\u9a97\u5c40\u3002<\/p>\n<p>\u5728\u5c71\u4e0a\uff0c\u8fc7\u65e9\u5230\u6765\u6709\u65f6\u4f1a\u8ba9\u4f60\u6ed1\u5230\u6ce5\u571f\u3002\u5728\u91d1\u878d\u5e02\u573a\uff0c\u5728\u6211\u4eec\u56de\u5230\u300c\u53ea\u6da8\u4e0d\u8dcc\u300d\uff08Up Only\uff09\u4e4b\u524d\uff0c\u4ee5 Nelly \u7684\u8bdd\u6765\u8bf4\uff0c\u5e02\u573a\u5fc5\u987b\u5148\u300cDrop Down and Get Their Eagle On\u300d\u3002\uff08\u987a\u4fbf\u8bf4\u4e00\u53e5\uff0c\u4ed6\u4eec\u4e0d\u50cf\u4ee5\u524d\u8fd9\u6837\u5236\u4f5c\u97f3\u4e50\u5f71\u7247\u4e86\u3002\uff09<\/p>\n<h3>\u725b\u5e02\u8bba\u70b9\uff08The Bull Case\uff09<\/h3>\n<p>\u4e0e\u6211\u7684\u8d1f\u9762\u7f8e\u5143\u6d41\u52a8\u6027\u7406\u8bba\u76f8\u53cd\u7684\u8bba\u70b9\u662f\uff0c\u968f\u8457\u7f8e\u56fd\u653f\u5e9c\u5728\u505c\u6446\u540e\u6062\u590d\u8fd0\u4f5c\uff0cTGA \u5c06\u8fc5\u901f\u51cf\u5c11 1000 \u4ebf\u81f3 1500 \u4ebf\u7f8e\u5143\uff0c\u4ee5\u8fbe\u5230 8500 \u4ebf\u7f8e\u5143\u7684\u76ee\u6807\uff0c\u8fd9\u5c06\u4e3a\u7cfb\u7edf\u589e\u52a0\u6d41\u52a8\u6027\u3002\u6b64\u5916\uff0c\u8054\u51c6\u4f1a\u5c06\u5728 12 \u6708 1 \u65e5\u505c\u6b62\u7f29\u51cf\u8d44\u4ea7\u8d1f\u503a\u8868\uff0c\u5e76\u5f88\u5feb\u900f\u8fc7\u91cf\u5316\u5bbd\u677e\uff08QE\uff09\u6062\u590d\u8d44\u4ea7\u8d1f\u503a\u8868\u6269\u5f20\u3002<\/p>\n<p>\u6211\u6700\u521d\u5bf9\u505c\u6446\u540e\u7684\u98ce\u9669\u8d44\u4ea7\u6301\u4e50\u89c2\u6001\u5ea6\u3002\u7136\u800c\uff0c\u5f53\u6211\u6df1\u5165\u7814\u7a76\u6570\u636e\u65f6\uff0c\u6211\u6ce8\u610f\u5230\u81ea 7 \u6708\u4ee5\u6765\uff0c\u6839\u636e\u6211\u7684\u6307\u6570\uff0c\u5927\u7ea6\u6709 1 \u5146\u7f8e\u5143\u7684\u7f8e\u5143\u6d41\u52a8\u6027\u84b8\u53d1\u4e86\u3002\u589e\u52a0 1500 \u4ebf\u7f8e\u5143\u662f\u5f88\u68d2\uff0c\u4f46\u63a5\u4e0b\u6765\u5462\uff1f<\/p>\n<p>\u5c3d\u7ba1\u591a\u4f4d\u8054\u51c6\u4f1a\u7406\u4e8b\u6697\u793a\u6709\u5fc5\u8981\u6062\u590d\u91cf\u5316\u5bbd\u677e\u4ee5\u91cd\u5efa\u94f6\u884c\u51c6\u5907\u91d1\uff0c\u786e\u4fdd\u8d27\u5e01\u5e02\u573a\u6b63\u5e38\u8fd0\u8f6c\uff0c\u4f46\u8fd9\u53ea\u662f\u7a7a\u8c08\u3002\u5f53\u8054\u51c6\u4f1a\u300c\u8033\u8bed\u8005\u300d\u2014\u2014\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u7684 Nick Timiraos \u5ba3\u5e03\u6062\u590d\u91cf\u5316\u5bbd\u677e\u83b7\u5f97\u7eff\u706f\u65f6\uff0c\u6211\u4eec\u624d\u4f1a\u77e5\u9053\u4ed6\u4eec\u662f\u8ba4\u771f\u7684\u3002\u4f46\u6211\u4eec\u8fd8\u6ca1\u5230\u90a3\u4e00\u6b65\u3002\u540c\u65f6\uff0c\u5e38\u8bbe\u56de\u8d2d\u5de5\u5177\uff08Standing Repo Facility\uff09\u5c06\u88ab\u5229\u7528\u8d77\u6765\u5370\u949e\uff0c\u6570\u989d\u8fbe\u6570\u767e\u4ebf\u7f8e\u5143\uff0c\u4ee5\u786e\u4fdd\u8d27\u5e01\u5e02\u573a\u80fd\u591f\u5e94\u5bf9\u5e9e\u5927\u7684\u56fd\u503a\u53d1\u884c\u3002<\/p>\n<p>\u7406\u8bba\u4e0a\uff0c\u8d1d\u68ee\u7279\u53ef\u4ee5\u5c06 TGA \u964d\u81f3\u96f6\u3002\u4e0d\u5e78\u7684\u662f\uff0c\u7531\u4e8e\u8d22\u653f\u90e8\u5fc5\u987b\u6bcf\u5468\u6eda\u52a8\u53d1\u884c\u6570\u767e\u4ebf\u7f8e\u5143\u7684\u56fd\u5e93\u5238\uff0c\u4ed6\u4eec\u5fc5\u987b\u4fdd\u6301\u5927\u91cf\u73b0\u91d1\u7f13\u51b2\uff0c\u4ee5\u9632\u4e07\u4e00\u3002\u4ed6\u4eec\u65e0\u6cd5\u627f\u53d7\u56fd\u5e93\u5238\u5230\u671f\u8fdd\u7ea6\u7684\u98ce\u9669\uff0c\u8fd9\u6392\u9664\u4e86\u7acb\u5373\u5411\u91d1\u878d\u5e02\u573a\u6ce8\u5165\u5269\u4f59 8,500 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4 \u6708\u4ee5\u6765\u7684\u6da8\u5e45\uff0c\u4ee5\u4fbf\u66f4\u597d\u5730\u4e0e\u6d41\u52a8\u6027\u57fa\u672c\u9762\u4fdd\u6301\u4e00\u81f4\u3002<\/p>\n<p>\u6700\u540e\uff0c\u5728\u6211\u8c08\u5230 Maelstrom \u7684\u90e8\u4f4d\u4e4b\u524d\uff0c\u6211\u5e76\u4e0d\u627f\u8ba4\u300c\u56db\u5e74\u5468\u671f\u300d\u662f\u6709\u6548\u7684\u3002\u6bd4\u7279\u5e01\u548c\u67d0\u4e9b\u5c71\u5be8\u5e01\u53ea\u6709\u5728\u5e02\u573a\u5410\u51fa\u8db3\u591f\u591a\u7684\u7b79\u7801\uff0c\u4ee5\u52a0\u5feb\u5370\u949e\u901f\u5ea6\u4e4b\u540e\uff0c\u624d\u4f1a\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002<\/p>\n<h3>Maelstrom \u7684\u90e8\u4f4d<\/h3>\n<p>\u4e0a\u5468\u672b\uff0c\u6211\u63d0\u9ad8\u4e86\u6211\u4eec\u7684\u7f8e\u5143\u7a33\u5b9a\u5e01\u90e8\u4f4d\uff0c\u5e76\u9884\u671f\u52a0\u5bc6\u8d27\u5e01\u4ef7\u683c\u4f1a\u8d70\u4f4e\u3002\u77ed\u671f\u5185\uff0c\u6211\u8ba4\u4e3a\u552f\u4e00\u80fd\u8dd1\u8d62\u8d1f\u9762\u7f8e\u5143\u6d41\u52a8\u6027\u60c5\u52bf\u7684\u52a0\u5bc6\u8d27\u5e01\u662f Zcash( $ZEC) \u3002<\/p>\n<p>\u968f\u8457\u4eba\u5de5\u667a\u6167\u3001\u5927\u578b\u79d1\u6280\u516c\u53f8\u548c\u5927\u578b\u653f\u5e9c\u7684\u53d1\u5c55\uff0c\u7f51\u8def\u5927\u90e8\u5206\u9886\u57df\u7684\u9690\u79c1\u5df2\u7ecf\u6d88\u4ea1\u3002 Zcash \u548c\u5176\u4ed6\u4f7f\u7528\u96f6\u77e5\u8bc6\u8bc1\u660e\u52a0\u5bc6\u6280\u672f\u7684\u9690\u79c1\u52a0\u5bc6\u8d27\u5e01\u662f\u4eba\u7c7b\u5bf9\u6297\u8fd9\u4e00\u65b0\u73b0\u5b9e\u7684\u552f\u4e00\u673a\u4f1a\u3002\u8fd9\u5c31\u662f\u4e3a\u4ec0\u4e48 Balaji \u7b49\u4eba\u76f8\u4fe1\u9690\u79c1\u5b8f\u5927\u53d9\u4e8b\u5c06\u5728\u672a\u6765\u51e0\u5e74\u63a8\u52a8\u52a0\u5bc6\u5e02\u573a\u3002<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-132161\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/11\/0_JN7tng37SeutX49h.webp\"  width=\"625\" height=\"213\" title=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe11\" alt=\"Arthur Hayes \u6700\u65b0\u6587\u7ae0\uff1a\u5982\u679c BTC \u8dcc\u81f3 8 \u4e07\u7f8e\u5143\uff0c\u5c06\u662f\u7edd\u4f73\u5165\u573a\u65f6\u673a\u63d2\u56fe11\" \/><\/p>\n<p>\u8eab\u4e3a\u4e2d\u672c\u806a\u7684\u4fe1\u5f92\uff0c\u7b2c\u4e09\u3001\u7b2c\u56db\u548c\u7b2c\u4e94\u5927\u52a0\u5bc6\u8d27\u5e01\u5c45\u7136\u662f\u7f8e\u5143\u884d\u751f\u54c1\u3001\u4e00\u4e2a\u5728\u65e0\u6240\u4e8b\u4e8b\u7684\u94fe\u4e0a\u65e0\u6240\u4f5c\u4e3a\u7684\u5e01\uff0c\u4ee5\u53ca CZ \u7684\u4e2d\u5fc3\u5316\u7535\u8111\uff0c\u8fd9\u8ba9\u6211\u611f\u5230\u88ab\u5192\u72af\u3002<\/p>\n<p>\u5982\u679c 15 \u5e74\u540e\uff0c\u8fd9\u4e9b\u662f\u4ec5\u6b21\u4e8e\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u5e01\u7684\u6700\u5927\u52a0\u5bc6\u8d27\u5e01\uff0c\u6211\u4eec\u5230\u5e95\u5728\u505a\u4ec0\u4e48\uff1f<\/p>\n<p>\u6211\u5bf9\u4fdd\u7f57\uff08Paolo\uff09\u3001\u52a0\u6797\u8c6a\u65af\uff08Garlinghouse\uff09\u548c CZ \u6ca1\u6709\u4efb\u4f55\u4e2a\u4eba\u610f\u89c1\uff1b\u4ed6\u4eec\u662f\u4e3a\u5176\u4ee3\u5e01\u6301\u6709\u8005\u521b\u9020\u4ef7\u503c\u7684\u5927\u5e08\u3002\u8bf7\u5404\u4f4d\u521b\u529e\u4eba\u6ce8\u610f\u3002\u4f46 Zcash \u6216\u7c7b\u4f3c\u7684\u9690\u79c1\u52a0\u5bc6\u8d27\u5e01\u5e94\u8be5\u7d27\u8ddf\u8457\u4ee5\u592a\u5e01\u3002<\/p>\n<p>\u6211\u76f8\u4fe1\uff0c\u57fa\u5c42\u52a0\u5bc6\u793e\u7fa4\u6b63\u5728\u89c9\u9192\uff0c\u610f\u8bc6\u5230\u6211\u4eec\u900f\u8fc7\u8d4b\u4e88\u8fd9\u4e9b\u7c7b\u578b\u7684\u5e01\u6216\u4ee3\u5e01\u5982\u6b64\u9ad8\u7684\u5e02\u503c\u800c\u9ed8\u8bb8\u652f\u6301\u7684\u4e1c\u897f\uff0c\u4e0e\u4e00\u4e2a\u53bb\u4e2d\u5fc3\u5316\u7684\u672a\u6765\u662f\u77db\u76fe\u7684\uff0c\u5728\u8fd9\u4e2a\u672a\u6765\u4e2d\uff0c\u6211\u4eec\u4f5c\u4e3a\u6709\u8840\u6709\u8089\u7684\u4eba\u7c7b\uff0c\u5728\u6280\u672f\u3001\u653f\u5e9c\u548c\u4eba\u5de5\u667a\u6167\u5de8\u5934\u9762\u524d\uff0c\u4fdd\u7559\u81ea\u4e3b\u6743\uff08retain agency\uff09\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u5728\u6211\u4eec\u7b49\u5f85\u8d1d\u68ee\u7279\u627e\u56de\u4ed6\u7684\u5370\u949e\u8282\u594f\u7684\u540c\u65f6\uff0cZcash \u6216\u53e6\u4e00\u79cd\u4e13\u6ce8\u4e8e\u9690\u79c1\u7684\u52a0\u5bc6\u8d27\u5e01\u5c06\u4eab\u53d7\u957f\u671f\u7684\u4ef7\u683c\u4e0a\u6da8\u3002<\/p>\n<p>Maelstrom \u4ecd\u7136\u662f\u957f\u671f\u770b\u591a\u7684\uff0c\u5982\u679c\u6211\u4e0d\u5f97\u4e0d\u4ee5\u66f4\u9ad8\u7684\u4ef7\u683c\u4e70\u56de\uff08\u5c31\u50cf\u6211\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\u4e0d\u5f97\u4e0d\u505a\u7684\u90a3\u6837\uff09\uff0c\u90a3\u4e5f\u6ca1\u5173\u7cfb\uff0c\u6211\u81ea\u8c6a\u5730\u63a5\u53d7\u6211\u7684\u5931\u8d25\uff0c\u56e0\u4e3a\u624b\u5934\u6709\u5907\u7528\u6cd5\u5e01\uff0c\u6211\u53ef\u4ee5\u5927\u80c6\u4e0b\u6ce8\u4ee5\u8d62\u53d6\u80dc\u5229\uff0c\u8ba9\u5b83\u771f\u6b63\u6709\u4ef7\u503c\u3002\u5982\u679c\u5728 2025 \u5e74 4 \u6708\u7684\u60c5\u5883\u518d\u6b21\u51fa\u73b0\u65f6\u62e5\u6709\u6d41\u52a8\u6027\uff0c\u8fd9\u6bd4\u4f60\u56e0\u4ea4\u6613\u4e8f\u635f\u800c\u4e0d\u5f97\u4e0d\u5c06\u8d5a\u6765\u7684\u5c0f\u5229\u8fd8\u7ed9\u5e02\u573a\u66f4\u80fd\u51b3\u5b9a\u4f60\u6574\u4e2a\u5468\u671f\u7684\u76c8\u4e8f\u3002<\/p>\n<p>\u6bd4\u7279\u5e01\u4ece 125,000 \u7f8e\u5143\u8dcc\u81f3 90,000 \u7f8e\u5143\u4f4e\u4f4d\uff0c\u800c\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\u548c\u7eb3\u65af\u8fbe\u514b 100 \u6307\u6570\u5f98\u5f8a\u5728\u5386\u53f2\u9ad8\u70b9\uff0c\u8fd9\u544a\u8bc9\u6211\u4fe1\u8d37\u4e8b\u4ef6\u6b63\u5728\u915d\u917f\u4e2d\u3002<\/p>\n<p>\u5f53\u6211\u89c2\u5bdf\u6211\u7684\u7f8e\u5143\u6d41\u52a8\u6027\u6307\u6570\u81ea 7 \u6708\u4ee5\u6765\u7684\u4e0b\u964d\u65f6\uff0c\u6211\u8bc1\u5b9e\u4e86\u8fd9\u4e2a\u89c2\u70b9\u3002<\/p>\n<p>\u5982\u679c\u6211\u7684\u89c2\u70b9\u662f\u6b63\u786e\u7684\uff0c\u80a1\u5e02 10% \u5230 20% \u7684\u8c03\u6574\uff0c\u52a0\u4e0a 10 \u5e74\u671f\u516c\u503a\u6b96\u5229\u7387\u63a5\u8fd1 5%\uff0c\u5c06\u8db3\u4ee5\u5236\u9020\u7d27\u8feb\u611f\uff0c\u4fc3\u4f7f\u8054\u51c6\u4f1a\u3001\u8d22\u653f\u90e8\u6216\u53e6\u4e00\u4e2a\u7f8e\u56fd\u653f\u5e9c\u673a\u6784\u63a8\u51fa\u67d0\u79cd\u5370\u949e\u65b9\u6848\u3002<\/p>\n<p><strong>\u5728\u6b64\u75b2\u8f6f\u671f\u95f4\uff0c\u6bd4\u7279\u5e01\u7edd\u5bf9\u53ef\u80fd\u8dcc\u81f3 80,000 \u7f8e\u5143\u81f3 85,000 \u7f8e\u5143\u3002\u5982\u679c\u66f4\u5e7f\u6cdb\u7684\u98ce\u9669\u5e02\u573a\u5185\u7206\uff0c\u800c\u8054\u51c6\u4f1a\u548c\u8d22\u653f\u90e8\u52a0\u901f\u4ed6\u4eec\u7684\u5370\u949e\u95f9\u5267\uff0c\u90a3\u4e48\u6bd4\u7279\u5e01\u53ef\u80fd\u4f1a\u5728\u5e74\u5e95\u98d9\u5347\u81f3 200,000 \u7f8e\u5143\u6216 250,000 \u7f8e\u5143\u3002<\/strong><\/p>\n<hr \/>\n<p><em><strong>\uff08\u4ee5\u4e0a\u5185\u5bb9\u83b7\u5408\u4f5c\u4f19\u4f34 PANews <\/strong><strong>\u6388\u6743\u8282\u5f55\u53ca\u8f6c\u8f7d\uff0c\u539f\u6587\u8fde\u7ed3 | \u51fa\u5904\uff1a \u6bd4\u63a8 Bitpush<\/strong><\/em><em><strong>\uff09<\/strong><\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u4f5c\u8005\uff1aArthur Hayes \u539f\u6587\u6807\u9898\uff1aSnow Forecast \u53c8\u5230\u4e86\u6211\u626e\u6f14\u4e1a\u4f59\u6c14\u8c61\u5b66\u5bb6\u7684\u65f6\u5019\u4e86\u3002\u8bf8\u5982\u62c9 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1446,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1445"}],"version-history":[{"count":1,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1445\/revisions"}],"predecessor-version":[{"id":7303,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1445\/revisions\/7303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/media\/1446"}],"wp:attachment":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}