{"id":1182,"date":"2025-06-03T12:38:04","date_gmt":"2025-06-03T12:38:04","guid":{"rendered":"https:\/\/cryptonews.com\/cz\/?p=1182"},"modified":"2025-06-03T12:38:04","modified_gmt":"2025-06-03T12:38:04","slug":"kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/","title":{"rendered":"Kdo m\u00e1 nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025? Velryby, v\u00fdvoj\u00e1\u0159i, nebo snad vl\u00e1dy? Pod\u00edvejme se na to zbl\u00edzka"},"content":{"rendered":"<p>Cena bitcoinu je v\u00fdsledkem <strong>kombinace spekulac\u00ed, technologick\u00e9ho v\u00fdvoje a geopolitick\u00fdch faktor\u016f<\/strong>, kter\u00e9 se neust\u00e1le m\u011bn\u00ed. Zat\u00edmco jedni poukazuj\u00ed na roli velk\u00fdch investor\u016f a fond\u016f, jin\u00ed upozor\u0148uj\u00ed na vliv v\u00fdvoj\u00e1\u0159\u016f a st\u00e1t\u016f. Poj\u010fme si tedy v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku podrobn\u011bji rozebrat, <strong>kdo m\u00e1 skute\u010dn\u011b nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025.<\/strong><\/p><h2 class=\"wp-block-heading\">Velryby maj\u00ed st\u00e1le rozhoduj\u00edc\u00ed slovo<\/h2><span class=\"replacer\"><\/span><p>V roce 2025 jsou takzvan\u00e9 <strong>velryby \u2013 investo\u0159i s tis\u00edci BTC a v\u00edce \u2013 aktivn\u011bj\u0161\u00ed ne\u017e kdy d\u0159\u00edv<\/strong>. Pat\u0159\u00ed mezi n\u011b nejen star\u0161\u00ed dr\u017eitel\u00e9 z prvn\u00edch let bitcoinu (tzv. early adopters), ale i velk\u00e9 instituce jako <strong>BlackRock<\/strong> nebo <strong>Strategy<\/strong>, kter\u00e9 dnes ovl\u00e1daj\u00ed u\u017e <strong>6 % cel\u00e9 nab\u00eddky BTC<\/strong>.<\/p><p><strong>Po\u010det pen\u011b\u017eenek s v\u00edce ne\u017e 1 000 BTC <a href=\"https:\/\/x.com\/glassnode\/status\/1927369080509538388\">dos\u00e1hl<\/a> v kv\u011btnu 1 455.<\/strong> Tento n\u00e1r\u016fst ukazuje na silnou akumula\u010dn\u00ed vlnu, za kterou stoj\u00ed zejm\u00e9na institucion\u00e1ln\u00ed investo\u0159i.<\/p><div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"3200\" height=\"1800\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m.jpg\" alt=\"Po\u010det velk\u00fdch dr\u017eitel\u016f BTC stabiln\u011b roste.\" class=\"wp-image-1186\" srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m.jpg 3200w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m-300x169.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m-1024x576.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m-768x432.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m-1536x864.jpg 1536w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m-2048x1152.jpg 2048w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03095049\/1748944247-gr9j2x3wiaadw8m-450x253.jpg 450w\" sizes=\"auto, (max-width: 3200px) 100vw, 3200px\"><figcaption class=\"wp-element-caption\">Po\u010det velk\u00fdch dr\u017eitel\u016f BTC stabiln\u011b roste. Zdroj: Coinglass<\/figcaption><\/figure><\/div><p>Velryby ale nejsou jen dlouhodob\u00ed hodle\u0159i. \u010casto <strong>nakupuj\u00ed ve velk\u00e9m, prod\u00e1vaj\u00ed na vrcholu a spou\u0161t\u011bj\u00ed korekce<\/strong>, kdy\u017e retail naskakuje do rozjet\u00e9ho vlaku. Analytici u\u017e za\u010d\u00e1tkem roku upozor\u0148ovali, \u017ee<strong> velk\u00e9 p\u0159esuny BTC na burzy b\u00fdvaj\u00ed p\u0159edzv\u011bst\u00ed propad\u016f<\/strong>.<\/p><p>Naopak, <strong>kdy\u017e velryb\u00ed pen\u011b\u017eenky z\u016fst\u00e1vaj\u00ed neaktivn\u00ed, bitcoin ve v\u011bt\u0161in\u011b p\u0159\u00edpad\u016f roste<\/strong>. Nap\u0159\u00edklad v dubnu, kdy p\u0159ekonal psychologickou \u00farove\u0148 <strong>110 000 dolar\u016f<\/strong>, byly velk\u00e9 pen\u011b\u017eenky relativn\u011b klidn\u00e9.<\/p><p>Data z <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/6825c4932614206496ed8899-Bitcoin-whales\">CryptoQuant<\/a> ukazuj\u00ed, \u017ee <strong>\u201esta\u0159\u00ed hr\u00e1\u010di\u201c realizovali jen zlomek zisk\u016f<\/strong>, zat\u00edmco nov\u011b p\u0159\u00edchoz\u00ed (nap\u0159. hedgeov\u00e9 fondy) vybrali miliardy. To nazna\u010duje, \u017ee star\u00e9 velryby sp\u00ed\u0161e akumuluj\u00ed, zat\u00edmco nov\u00e9 spekuluj\u00ed.<\/p><p>A\u010dkoliv se chovaj\u00ed r\u016fzn\u011b, <strong>vliv velryb na trh je nepopirateln\u00fd a obrovsk\u00fd<\/strong>. Jejich n\u00e1kupy i prodeje \u010dasto ur\u010duj\u00ed trendy.<\/p><div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"1210\" height=\"743\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"Kdo m\u00e1 nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025? Velryby, v\u00fdvoj\u00e1\u0159i, nebo snad vl\u00e1dy? Pod\u00edvejme se na to zbl\u00edzka. V\u00fdznamn\u00e1 \u010d\u00e1st nab\u00eddky BTC je soust\u0159ed\u011bna v rukou n\u011bkolika velk\u00fdch adres. Zdroj: Cointelegraph\" class=\"wp-image-1184 lazyload\" sizes=\"auto, (max-width: 1210px) 100vw, 1210px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093639\/1748943399-2.jpg\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093639\/1748943399-2.jpg 1210w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093639\/1748943399-2-300x184.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093639\/1748943399-2-1024x629.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093639\/1748943399-2-768x472.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093639\/1748943399-2-450x276.jpg 450w\"><figcaption class=\"wp-element-caption\">V\u00fdznamn\u00e1 \u010d\u00e1st nab\u00eddky BTC je soust\u0159ed\u011bna v rukou n\u011bkolika velk\u00fdch adres. Zdroj: Cointelegraph<\/figcaption><\/figure><\/div><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n\n\n\n<p>Zaj\u00edmav\u00fd fakt: <strong>Pouh\u00e1 2 % bitcoinov\u00fdch adres dr\u017e\u00ed v\u00edce ne\u017e 90 % nab\u00eddky<\/strong>. V\u011bt\u0161ina z t\u011bchto adres ale pat\u0159\u00ed <strong>kryptom\u011bnov\u00fdm<\/strong> <strong>burz\u00e1m a cold pen\u011b\u017eenk\u00e1m<\/strong>, co\u017e znamen\u00e1, \u017ee <strong>re\u00e1ln\u00fd po\u010det jednotlivc\u016f s takto siln\u00fdm vlivem je mnohem ni\u017e\u0161\u00ed<\/strong>, ne\u017e by se z \u010d\u00edsel mohlo zd\u00e1t.<\/p>\n\n\n\n<\/div><\/div><h2 class=\"wp-block-heading\">Maj\u00ed v\u00fdvoj\u00e1\u0159i vliv na cenu bitcoinu? Historie ukazuje, \u017ee ano<\/h2><span class=\"replacer\"><\/span><p>Z\u00e1sahy v\u00fdvoj\u00e1\u0159\u016f do <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-bitcoin\/\">Bitcoinu<\/a> nejsou tak \u010dast\u00e9, ale kdy\u017e u\u017e k nim dojde, <strong>zanechaj\u00ed silnou stopu na trhu<\/strong>. Nov\u00e9 upgrady \u010dasto p\u0159in\u00e1\u0161ej\u00ed lep\u0161\u00ed \u0161k\u00e1lovatelnost, v\u011bt\u0161\u00ed soukrom\u00ed nebo nov\u00e9 funkce a to obvykle <strong>vyvol\u00e1 cenovou reakci<\/strong>.<\/p><h3 class=\"wp-block-heading\">SegWit (2017): Prvn\u00ed velk\u00e1 revoluce<\/h3><p>V srpnu 2017 byl aktivov\u00e1n <strong>Segregated Witness (SegWit)<\/strong>. Tento upgrade umo\u017enil efektivn\u011bj\u0161\u00ed ukl\u00e1d\u00e1n\u00ed dat v bloc\u00edch, d\u00edky \u010demu\u017e se sn\u00ed\u017eily poplatky a p\u0159ipravila se p\u016fda pro <strong>Lightning Network<\/strong>.<\/p><p>Po SegWitu n\u00e1sledoval <strong>v\u00fdrazn\u00fd r\u016fst ceny BTC \u2013 ze 4 000 na t\u00e9m\u011b\u0159 20 000 dolar\u016f<\/strong> b\u011bhem \u010dty\u0159 m\u011bs\u00edc\u016f. A\u010dkoliv to nebyl jedin\u00fd d\u016fvod vzestupu (prob\u00edhal bull market), <strong>SegWit sehr\u00e1l kl\u00ed\u010dovou roli<\/strong> <strong>v modernizaci s\u00edt\u011b<\/strong>.<\/p><h3 class=\"wp-block-heading\">Taproot (2021): Chyt\u0159ej\u0161\u00ed a soukrom\u011bj\u0161\u00ed Bitcoin<\/h3><p>Upgrade <strong>Taproot<\/strong> p\u0159inesl v listopadu 2021 vylep\u0161en\u00ed pro v\u00edce soukrom\u00ed a prostor pro pokro\u010dil\u00e9 skriptov\u00e1n\u00ed. Umo\u017enil nap\u0159\u00edklad, aby i komplexn\u00ed transakce na \u0159et\u011bzci vypadaly jako standardn\u00ed.<\/p><p>Taproot byl aktivov\u00e1n <strong>jen p\u00e1r dn\u00ed po dosa\u017een\u00ed tehdej\u0161\u00edho ATH (64 000 dolar\u016f)<\/strong>. Na cen\u011b se podepsaly i jin\u00e9 faktory (ETF, makro situace), <strong>Taproot v\u0161ak pos\u00edlil vn\u00edm\u00e1n\u00ed bitcoinu jako vysp\u011blej\u0161\u00edho aktiva<\/strong>.<\/p><h3 class=\"wp-block-heading\">Ordinals a BRC-20 (2023\u20132024): NFT a meme coiny dorazily i na Bitcoin<\/h3><p>D\u00edky Taprootu a kreativit\u011b v\u00fdvoj\u00e1\u0159\u016f se za\u010dala data zapisovat p\u0159\u00edmo do jednotliv\u00fdch satoshi. Vznikly tak <strong>Ordinals <\/strong>(bitcoinov\u00e9 <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-nft\/\">NFT<\/a>) a pozd\u011bji i <strong>BRC-20 tokeny<\/strong> \u2013 jednoduch\u00e9 <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-altcoin\/\">altcoiny<\/a> b\u011b\u017e\u00edc\u00ed p\u0159\u00edmo na Bitcoinu.<\/p><p>V\u00fdsledek? <strong>Trh s t\u011bmito aktivy explodoval na v\u00edce ne\u017e 2 miliardy dolar\u016f<\/strong>, av\u0161ak transak\u010dn\u00ed poplatky pro t\u011b\u017ea\u0159e raketov\u011b vzrostly. Nikdo to ne\u010dekal, ale uk\u00e1zalo to, \u017ee <strong>bitcoin nen\u00ed jen digit\u00e1ln\u00ed zlato \u2013 m\u016f\u017ee b\u00fdt i platformou pro experimenty.<\/strong><\/p><div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"1311\" height=\"777\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"Kdo m\u00e1 nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025? Pixelov\u00ed Bitcoin Punks: sb\u011bratelsk\u00e9 NFT na s\u00edti Bitcoin. Zdroj: Forkast\" class=\"wp-image-1185 lazyload\" sizes=\"auto, (max-width: 1311px) 100vw, 1311px\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093753\/1748943473-3.jpg\" data-srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093753\/1748943473-3.jpg 1311w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093753\/1748943473-3-300x178.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093753\/1748943473-3-1024x607.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093753\/1748943473-3-768x455.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/06\/03093753\/1748943473-3-450x267.jpg 450w\"><figcaption class=\"wp-element-caption\">Pixelov\u00ed Bitcoin Punks: sb\u011bratelsk\u00e9 NFT na s\u00edti Bitcoin. Zdroj: Forkast<\/figcaption><\/figure><\/div><h3 class=\"wp-block-heading\">Co p\u0159inese budoucnost? OP_CTV, OP_CAT a dal\u0161\u00ed<\/h3><p>V roce 2025 se m\u016f\u017eeme t\u011b\u0161it na <strong>dal\u0161\u00ed potenci\u00e1ln\u011b revolu\u010dn\u00ed upgrady<\/strong> \u2013 nap\u0159\u00edklad <strong>OP_CTV, OP_CAT<\/strong> a <strong>tzv. covenants<\/strong>. Ty by mohly p\u0159in\u00e9st <strong>z\u00e1sadn\u00ed prvky pro dal\u0161\u00ed pou\u017eitelnost tohoto blockchainu<\/strong>, jako <strong>programovateln\u00e9 podm\u00ednky, bezpe\u010dn\u011bj\u0161\u00ed pen\u011b\u017eenky (vaults), vy\u0161\u0161\u00ed flexibilitu<\/strong> a dal\u0161\u00ed praktick\u00e9 funkce.<\/p><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n\n\n\n<p><strong>Zaj\u00edmavost:<\/strong> V\u00fdvoj Bitcoinu v roce 2025 rozhodn\u011b nezpomaluje. Naopak, v repozit\u00e1\u0159\u00edch bylo zaznamen\u00e1no p\u0159es <strong>3 200 commit\u016f<\/strong>, co\u017e znamen\u00e1 <strong>v\u00fdrazn\u00e9 o\u017eiven\u00ed<\/strong> oproti utlumen\u00e9mu roku 2022. <\/p>\n\n\n\n<\/div><\/div><p>V\u00fdvoj\u00e1\u0159i sice nemaj\u00ed tak v\u00fdrazn\u00fd vliv na cenu bitcoinu jako velc\u00ed investo\u0159i, ale jejich pr\u00e1ce <strong>dlouhodob\u011b formuje jeho technologick\u00fd z\u00e1klad<\/strong>. A kdy\u017e p\u0159ijde na velk\u00e9 upgrady, trh rozhodn\u011b <strong>reaguje<\/strong>.<\/p><h2 class=\"wp-block-heading\">Vl\u00e1dy sice bitcoin ne\u0159\u00edd\u00ed, ale i tak dok\u00e1\u017eou pohnout trhem<\/h2><span class=\"replacer\"><\/span><p>Bitcoin byl navr\u017een jako <strong>decentralizovan\u00fd a necenzurovateln\u00fd syst\u00e9m<\/strong>, tak\u017ee \u017e\u00e1dn\u00e1 vl\u00e1da nad n\u00edm nem\u00e1 plnou kontrolu. To ale <strong>neznamen\u00e1, \u017ee nemohou ovlivnit jeho cenu<\/strong>. Ve skute\u010dnosti pat\u0159\u00ed <strong>regulace a makroekonomick\u00e1 rozhodnut\u00ed<\/strong> mezi hlavn\u00ed katalyz\u00e1tory prudk\u00fdch pohyb\u016f na trhu.<\/p><p>Kdy\u017e byly v roce 2024 v USA schv\u00e1leny <strong>spotov\u00e9 bitcoinov\u00e9 ETF<\/strong>, byl to pro sektor <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/co-je-kryptomena\/\">kryptom\u011bn<\/a> <strong>z\u00e1sadn\u00ed miln\u00edk<\/strong>. Investi\u010dn\u00ed giganti jako <strong>BlackRock<\/strong> nebo <strong>Fidelity<\/strong> spustili sv\u00e9 fondy a na trh <strong>proudily miliardy dolar\u016f<\/strong>. Bitcoin se v reakci <strong>vy\u0161vihl nad 73 000 dolar\u016f<\/strong> a v\u0161em bylo jasn\u00e9, \u017ee <strong>instituce definitivn\u011b vstoupily na sc\u00e9nu<\/strong>.<\/p><p>Nap\u0159\u00edklad v roce 2023 a 2024 trh zneklidnila <strong>pl\u00e1novan\u00e1 regulace v EU<\/strong>, jej\u00edm\u017e c\u00edlem bylo <strong>zp\u0159\u00edsnit dohled nad self-custody pen\u011b\u017eenkami<\/strong>. Ne\u0161lo jen o soukrom\u00ed \u2013 investo\u0159i se b\u00e1li, \u017ee Evropa se od krypta sp\u00ed\u0161 distancuje ne\u017e ho v\u00edt\u00e1. V\u00fdsledkem byl kr\u00e1tkodob\u00fd v\u00fdprodej a nervozita.<\/p><p>Bitcoin<strong> reaguje na makroekonomick\u00e1 rozhodnut\u00ed<\/strong> podobn\u011b jako technologick\u00e9 akcie. Kdy\u017e <strong>americk\u00e1 centr\u00e1ln\u00ed banka (Fed)<\/strong> koncem roku 2023 <strong>pozastavila zvy\u0161ov\u00e1n\u00ed sazeb<\/strong> a nazna\u010dila jejich sn\u00ed\u017een\u00ed v roce 2024, trh o\u017eil. A nen\u00ed se \u010demu d\u00edvit, <strong>ni\u017e\u0161\u00ed sazby = levn\u011bj\u0161\u00ed pen\u00edze, slab\u0161\u00ed dolar a v\u011bt\u0161\u00ed apetit po rizikov\u011bj\u0161\u00edch aktivech<\/strong> jako je bitcoin.<\/p><p>Dokonce ani <strong>tvrd\u00e9 z\u00e1kazy<\/strong> nedok\u00e1\u017eou bitcoin zastavit. <strong>\u010c\u00edna<\/strong> sice omezila <a href=\"https:\/\/cryptonews.com\/cz\/kryptomeny\/jak-zacit-obchodovat-s-kryptomenami\/\">obchodov\u00e1n\u00ed<\/a> i t\u011b\u017ebu, ale popt\u00e1vka nezmizela. Lid\u00e9 tam nakupuj\u00ed BTC p\u0159es <strong>OTC trhy a offshore platformy<\/strong> s vyu\u017eit\u00edm VPN. Ve skute\u010dnosti z\u016fst\u00e1vaj\u00ed OTC objemy v roce 2025 v \u010c\u00edn\u011b <strong>p\u0159ekvapiv\u011b vysok\u00e9<\/strong>.<\/p><div class=\"su-note\" style=\"border-color:#e0d5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#faefff;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n\n\n\n<p><strong>Zaj\u00edmavost:<\/strong> Po spu\u0161t\u011bn\u00ed spotov\u00fdch bitcoinov\u00fdch ETF se open interest na bitcoinov\u00fdch futures u <strong>CME <\/strong>v 1. \u010dtvrtlet\u00ed 2025 <strong>vy\u0161plhal na rekordn\u00edch 9,6 miliardy dolar\u016f<\/strong>.<\/p>\n\n\n\n<\/div><\/div><p><strong>Bitcoin nelze \u0159\u00eddit<\/strong>, ale prost\u0159ed\u00ed formuj\u00ed rozhodnut\u00ed mocensk\u00fdch center \u2014 od regula\u010dn\u00edch org\u00e1n\u016f a\u017e po centr\u00e1ln\u00ed banky. A jak ukazuje historie, <strong>sta\u010d\u00ed jedno rozhodnut\u00ed a cena let\u00ed nahoru\u2026nebo dol\u016f.<\/strong><\/p><h2 class=\"wp-block-heading\">Kdo tedy m\u00e1 ve skute\u010dnosti nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025?<\/h2><span class=\"replacer\"><\/span><p>Kdo tedy m\u00e1 v rukou ot\u011b\u017ee, kdy\u017e jde o cenu bitcoinu? Odpov\u011b\u010f nen\u00ed tak jednoduch\u00e1, jak by se mohlo na prvn\u00ed pohled zd\u00e1t. <strong>Nejsou to jen velryby, v\u00fdvoj\u00e1\u0159i nebo vl\u00e1dy<\/strong>, ale cel\u00e1 \u0161k\u00e1la vliv\u016f, kter\u00e1 se neust\u00e1le m\u011bn\u00ed. V decentralizovan\u00e9m sv\u011bt\u011b bitcoinu toti\u017e nem\u00e1 hlavn\u00ed slovo nikdo a z\u00e1rove\u0148 v\u0161ichni.<\/p><p><strong>Velc\u00ed hr\u00e1\u010di (tzv. velryby)<\/strong> bezesporu dok\u00e1\u017eou zah\u00fdbat trhem, obzvl\u00e1\u0161\u0165 v momentech, kdy je likvidita na n\u00edzk\u00fdch \u00farovn\u00edch. Na druh\u00e9 stran\u011b <strong>v\u00fdvoj\u00e1\u0159i<\/strong> posouvaj\u00ed samotn\u00fd protokol dop\u0159edu a otev\u00edraj\u00ed tak nov\u00e9 mo\u017enosti jeho vyu\u017eit\u00ed. <strong>Regula\u010dn\u00ed org\u00e1ny a vl\u00e1dy<\/strong> ovliv\u0148uj\u00ed prost\u0159ed\u00ed, ve kter\u00e9m se bitcoin pohybuje \u2013 a\u0165 u\u017e regulacemi, dan\u011bn\u00edm nebo vym\u00e1h\u00e1n\u00edm pr\u00e1va. A <strong>makroekonomick\u00e9 faktory<\/strong> jako inflace, \u00farokov\u00e9 sazby nebo s\u00edla dolaru ur\u010duj\u00ed, zda maj\u00ed investo\u0159i chu\u0165 riskovat.<\/p><p>Ale pozor \u2013 <strong>tr\u017en\u00ed sentiment<\/strong> m\u00e1 s\u00edlu stejnou, ne-li v\u011bt\u0161\u00ed. <strong>Nad\u0161en\u00ed drobn\u00fdch investor\u016f<\/strong> um\u00ed vyst\u0159elit cenu do nebes, zat\u00edmco<strong> opatrnost<\/strong> <strong>nebo nervozita<\/strong> m\u016f\u017ee spustit v\u00fdprodeje. Emoce, trendy, narativy \u2013 od um\u011bl\u00e9 inteligence a\u017e po geopolitick\u00e9 nap\u011bt\u00ed \u2013 hraj\u00ed velmi d\u016fle\u017eitou roli v tom, jak je na bitcoin nahl\u00ed\u017eeno v portfoli\u00edch investor\u016f.<\/p><p><strong>Rok 2025 je u\u010debnicovou uk\u00e1zkou tohoto dynamick\u00e9ho tance:<\/strong><\/p><ul class=\"wp-block-list\">\n<li>Schv\u00e1len\u00ed spotov\u00fdch bitcoinov\u00fdch ETF p\u0159ineslo p\u0159\u00edliv miliard, ale ne trval\u00fd r\u016fst.<br><\/li>\n\n\n\n<li>Regulace v jedn\u00e9 \u010d\u00e1sti sv\u011bta utlumila z\u00e1jem, zat\u00edmco jinde trh o\u017eil.<br><\/li>\n\n\n\n<li>Pohyby velryb ned\u011bs\u00ed trh tolik, kdy\u017e je sentiment klidn\u011bj\u0161\u00ed.<br><\/li>\n\n\n\n<li>N\u011bkter\u00e9 z nejv\u011bt\u0161\u00edch rally v leto\u0161n\u00edm roce nem\u011bly \u017e\u00e1dn\u00fd fundament\u00e1ln\u00ed z\u00e1klad, jen dynamiku podpo\u0159enou narativem.<\/li>\n<\/ul><h2 class=\"wp-block-heading\">Z\u00e1v\u011br<\/h2><span class=\"replacer\"><\/span><p><strong>Bitcoin je decentralizovan\u00fd, ale nen\u00ed imunn\u00ed v\u016f\u010di vlivu t\u0159et\u00edch stran.<\/strong> Je to \u017eiv\u00fd ekosyst\u00e9m, kter\u00fd reaguje na v\u00edru, obavy i o\u010dek\u00e1v\u00e1n\u00ed. Jeho cena je takov\u00fd <strong>tep trhu<\/strong>, kter\u00fd odr\u00e1\u017e\u00ed kolektivn\u00ed d\u016fv\u011bru a nejistotu v re\u00e1ln\u00e9m \u010dase.<\/p>","protected":false},"excerpt":{"rendered":"<p>Cena bitcoinu je v\u00fdsledkem kombinace spekulac\u00ed, technologick\u00e9ho v\u00fdvoje a geopolitick\u00fdch faktor\u016f, kter\u00e9 se neust\u00e1le m\u011bn\u00ed. Zat\u00edmco jedni poukazuj\u00ed na roli velk\u00fdch investor\u016f a fond\u016f, jin\u00ed upozor\u0148uj\u00ed na vliv v\u00fdvoj\u00e1\u0159\u016f a st\u00e1t\u016f. Poj\u010fme si tedy v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku podrobn\u011bji rozebrat, kdo m\u00e1 skute\u010dn\u011b nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025.Velryby maj\u00ed st\u00e1le rozhoduj\u00edc\u00ed slovoV roce [&hellip;]<\/p>\n","protected":false},"author":638,"featured_media":453,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11,28],"tags":[16,62,17,35,36,18,38,188],"editors":[51],"sponsored_companies":[],"class_list":["post-1182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-blackrock","tag-btc","tag-byci-trh","tag-etf","tag-kryptomeny","tag-strategy","tag-velryby","editors-roman-blecha"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kdo m\u00e1 nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025? 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Objevte skryt\u00e9 hr\u00e1\u010de, kte\u0159\u00ed tahaj\u00ed za nitky trhu.","og_url":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/","og_site_name":"Cryptonews CZ","article_published_time":"2025-06-03T12:38:04+00:00","og_image":[{"width":1212,"height":679,"url":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/04\/29085009\/1745916609-screenshot-2025-04-29-at-10-49-56-bitcoin-ethereum-options-expiry-hits-8-05b-brace-for-market-whiplash.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_description":"Kdo m\u00e1 nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025? Mo\u017en\u00e1 to nejsou ti, koho \u010dek\u00e1te. Objevte skryt\u00e9 hr\u00e1\u010de, kte\u0159\u00ed tahaj\u00ed za nitky trhu.","twitter_image":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/04\/29085009\/1745916609-screenshot-2025-04-29-at-10-49-56-bitcoin-ethereum-options-expiry-hits-8-05b-brace-for-market-whiplash.jpg","twitter_creator":"@cryptonews","twitter_site":"@cryptonews","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/#article","isPartOf":{"@id":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/"},"author":{"name":"blechrom","@id":"https:\/\/cryptonews.com\/cz\/#\/schema\/person\/a962c1feaaacddc222fa7d99dd52c638"},"headline":"Kdo m\u00e1 nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025? Velryby, v\u00fdvoj\u00e1\u0159i, nebo snad vl\u00e1dy? Pod\u00edvejme se na to zbl\u00edzka","datePublished":"2025-06-03T12:38:04+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/"},"wordCount":1589,"publisher":{"@id":"https:\/\/cryptonews.com\/cz\/#organization"},"image":{"@id":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/#primaryimage"},"thumbnailUrl":"https:\/\/cimg.co\/wp-content\/uploads\/sites\/23\/2025\/04\/29085009\/1745916609-screenshot-2025-04-29-at-10-49-56-bitcoin-ethereum-options-expiry-hits-8-05b-brace-for-market-whiplash.jpg","keywords":["bitcoin","BlackRock","BTC","b\u00fd\u010d\u00ed trh","etf","kryptom\u011bny","Strategy","velryby"],"articleSection":["Bitcoin","Novinky"],"inLanguage":"cs-CZ","copyrightYear":"2025","copyrightHolder":{"@id":"https:\/\/cryptonews.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/","url":"https:\/\/cryptonews.com\/cz\/news\/kdo-ma-nejvetsi-vliv-na-cenu-bitcoinu-v-roce-2025-velryby-vyvojari-nebo-snad-vlady-podivejme-se-na-to-zblizka\/","name":"Kdo m\u00e1 nejv\u011bt\u0161\u00ed vliv na cenu bitcoinu v roce 2025? 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