2025-26赛季的英超，激战正酣。当转播镜头扫过众多球员时，印在他们球衣胸前、为球迷所熟知的博彩广告，依旧显眼——本赛季，有11支英超球队的 胸前广告主是博彩投注平台。 不过，这将是博彩企业霸占英超球衣赞助最后的疯狂了。根据英超各俱乐部此前已达成的共识，从2026-27赛季起，英超各队将自愿禁止博彩赞助商出现 在球衣胸前。 但凡长期观看英超比赛直播，就都会知道博彩赞助是英超俱乐部极为重要的资金来源，最高峰时——一如本赛季，博彩赞助占领了过半的英超俱乐部。然 而，随着博彩禁令生效日期的临近，一个长达二十余年，为英超众多主队持续注入强劲资金动能的时代，也进入最后的倒计时。 这一禁令究竟会带来多少实质性改变？英超俱乐部尤其是中小球会，接下来将如何填充博彩赞助空缺的资金缺口？赞助商又是否会找到规避新规的办法？ 一连串新的未知，有待找到答案。 博彩遍布英超赛场，一场持续二十余年的赞助狂欢 要理解博彩赞助为何能成为英超球衣胸前广告的霸主，就需要简单回溯英超近半个世纪的球衣广告赞助演变史。 1976年1月，当时还在英格兰第五级别联赛的基特宁镇足球俱乐部，效仿德国不伦瑞克俱乐部的做法，将当地企业"基特宁轮胎"（Ketter ...

Core Viewpoint - The historical "cycle" of Bitcoin is showing signs of being broken, which could significantly impact how investors assess cryptocurrency price trends and potential entry points [1] Group 1: Bitcoin Cycle Overview - The Bitcoin cycle typically revolves around a key event known as "halving," which occurs approximately every four years and reduces mining rewards by half, limiting the total supply to 21 million Bitcoins [1] - Historically, Bitcoin prices tend to rise in the months following a halving event, reaching new all-time highs before experiencing a significant drop of about 70% to 80%, leading to a prolonged period of low prices known as "crypto winter" [2][3] Group 2: Changes in the Bitcoin Cycle - In the current cycle, Bitcoin reached a historical high of over $73,000 in March 2024, approximately one month before the halving, which deviates from the previous pattern where new highs were typically set 12-18 months post-halving [3] - The approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. has been a major factor driving Bitcoin's price, attracting significant institutional investment and altering traditional cycle dynamics [3][4] Group 3: Factors Influencing the Cycle - The introduction of ETFs has brought in wealthy investors interested in long-term holdings, while other market factors have also evolved [4] - A more favorable macroeconomic environment and regulatory landscape are emerging, with indications that the likelihood of interest rate decreases is higher than increases, which could reduce the risk of future market crashes [5] Group 4: Current Stage of the Cycle - Historically, significant price appreciation for Bitcoin occurs between 500 to 720 days post-halving, suggesting potential price acceleration between Q3 2025 and Q1 2026 [6] - The latest historical high for Bitcoin was recorded on July 14, when it surpassed $123,000, indicating a shift in the traditional four-year cycle [6] Group 5: Market Volatility and Future Predictions - The typical 70%-80% price drop following a halving may no longer be applicable, with the current cycle showing a maximum drawdown of approximately 26% [7] - Market experts believe that while a 30% to 50% correction may occur due to macroeconomic shocks or regulatory surprises, these corrections are expected to be shorter and less severe than in previous cycles [7]