ars，市值突破4500億美元產出標題：《比特幣編年史2024：回顧影響BTC命運的關鍵時刻》

ption：又到了年終總結的時間了。 2024年的市場很複雜。比特幣現貨ETF核准、減半事件如期而至、價格飆漲、算力再創新高、生態顯現、政局變化、利多因素持續…許多因素驅動BTC大漲擺脫全球投資熱潮。幣價屢創新高，突破10萬美元大關，Google趨勢指數較去年翻了一倍多，開啟高光時刻！對於整個加密產業來說，2024 年是具有里程碑意義的一年。每一次重大事件都銘刻著比特幣乃至整個加密貨幣市場的未來軌跡。

again, and major cryptocurrencies generally rose. Institutions are buying BTC on a large scale, and the price of BTC has soared. According to data from CoinShares, last week, institutional investors bought a net 100 million U.S. dollars in cryptocurrency products, and the total net capital inflow in 2024 has reached 830 million U.S. dollars. Among them, bitcoin products saw a net capital inflow of 90.4 million U.S. dollars, while short bitcoin products saw a net capital outflow of 1.3 million U.S. dollars.

再次，主要加密貨幣普遍上漲。機構大規模買進BTC，BTC價格飆漲。 CoinShares數據顯示，上週機構投資人淨買進1億美元加密貨幣產品，2024年資金淨流入總額已達8.3億美元。其中，比特幣產品資金淨流入9,040萬美元，做空比特幣產品資金淨流出130萬美元。

BTC price once again hit a new historical high. This round of BTC price increase is mainly driven by the following factors: the approval of BTC spot ETF, the halving of BTC, the entry of institutions, and the good performance of major cryptocurrencies. Among them, the approval of BTC spot ETF is undoubtedly the most important driving factor. The approval of the BTC spot ETF has opened up a new channel for institutions to enter the crypto market, and a large amount of institutional capital has poured into the crypto market, driving up the price of BTC. In addition, the halving of BTC has also reduced the output of BTC by half, which has led to a decrease in the supply of BTC in the market and an increase in the price of BTC. At the same time, the entry of institutions has also brought new vitality to the crypto market, and the good performance of major cryptocurrencies has further boosted investors' confidence in the crypto market and attracted more capital to enter the market.

BTC價格再次創下歷史新高。本輪BTC價格上漲主要受以下因素推動：BTC現貨ETF核准、BTC減半、機構入場、各大加密貨幣表現良好等。其中，BTC現貨ETF的核准無疑是最重要的推動因素。 BTC現貨ETF的核准，為機構進入加密市場開闢了新通道，大量機構資金湧入加密市場，帶動BTC價格上漲。此外，BTC減半也使得BTC的產量減少了一半，進而導致市場上BTC的供應量減少，BTC的價格上漲。同時，機構的進入也為加密市場帶來了新的活力，各大加密貨幣的良好表現進一步提振了投資者對加密市場的信心，吸引了更多資本進入市場。

The price of BTC has once again hit a new historical high, which also shows that the crypto market is still in a bull market, and the price of major cryptocurrencies is still rising. However, investors should also be aware that the crypto market is volatile and the price of major cryptocurrencies may fluctuate greatly at any time. Therefore, investors should invest rationally and avoid blindly following the trend.outputText: 2024 is destined to be an unforgettable year for the crypto industry. A series of major events have occurred throughout the year, driving Bitcoin to set off a global investment boom and refreshing the historical highs of the currency price several times. Among them, the price of the currency has broken through the 100,000 mark, and the Google Trends index has also doubled compared to last year, opening up a highlight moment!

BTC的價格再次創下歷史新高，也顯示加密市場仍處於多頭市場，主要加密貨幣的價格仍在上漲。不過，投資人也應該意識到，加密貨幣市場波動較大，主要加密貨幣的價格隨時可能大幅波動。因此，投資者應理性投資，避免盲目跟風。全年發生一連串重大事件，帶動比特幣在全球掀起投資熱潮，數次刷新幣價歷史高點。其中，幣價已突破10萬大關，Google趨勢指數也較去年翻倍，開啟高光時刻！

For the entire crypto industry, 2024 is a milestone year. Each major event engraves the future trajectory of Bitcoin and even the entire cryptocurrency market.

對於整個加密產業來說，2024 年是具有里程碑意義的一年。每一次重大事件都銘刻著比特幣乃至整個加密貨幣市場的未來軌跡。

This report uses time as the context and events as the nodes. MetaEra will review the key moments that have influenced the fate of Bitcoin. Let us walk into the Bitcoin Chronicles of 2024 and experience the glory and hardship of this year.

本報告以時間為背景，以事件為節點。 MetaEra 將回顧影響比特幣命運的關鍵時刻。讓我們走進2024年的比特幣編年史，感受這一年的輝煌與艱辛。

Crypto Opening Moment: Bitcoin Spot ETF Approved

加密貨幣開放時刻：比特幣現貨 ETF 獲批

On January 10, the U.S. financial arena ushered in a landmark change: the approval of the BTC ETF. This allowed U.S.-listed companies, pension funds, various funds, and other institutional investors to openly enter this mysterious field through this financial tool, opening a new era of public purchase and holding of Bitcoin.

1月10日，美國金融舞台迎來了里程碑式的變化：BTC ETF核准。這使得美國上市公司、退休基金、各類基金和其他機構投資者可以透過這項金融工具公開進入這個神秘領域，開啟了公開購買和持有比特幣的新時代。

In April, the first batch of Hong Kong Bitcoin and Ethereum spot ETF products applied by the Hong Kong subsidiaries of China Asset Management, Bosera, and Harvest Asset Management were officially approved by the Hong Kong Securities Regulatory Commission. Subsequently, on April 30, these highly anticipated products were officially listed on the Hong Kong Stock Exchange.

4月，華夏基金、博時基金、嘉年華基金香港子公司申請的首批香港比特幣、以太坊現貨ETF產品正式獲得香港證監會批准。隨後，4月30日，這些備受期待的產品正式在香港聯交所上市。

The market cheered the launch of ETFs, the depth of crypto market products increased, and institutions entered the market in large numbers. The market was jubilant, and past doubts turned to the pursuit of value storage. Traditional capital poured into the crypto world, and crypto investment became closer to the Web 2.0 market.

ETF推出市場歡呼，加密市場產品深度提升，機構大量進市。市場一片歡騰，過去的疑慮轉向了對價值儲存的追求。傳統資本湧入加密世界，加密投資更貼近Web 2.0市場。

In the short term after the news was released, the overall performance of the Bitcoin market was stable, and there was no shock. Many people questioned the weakness of ETFs, and institutional conspiracy theories emerged frequently, with arguments of "all show and no real work" coming one after another. All these unknowns, like a magnet, attracted the attention of countless investors and industry observers, and became the most suspenseful chapter in the future development of Bitcoin. In the undercurrent, Bitcoin adheres to the "time machine theory," waiting for new impetus and using time to prove its value.

消息發布後短期內，比特幣市場整體表現平穩，未出現震盪。不少人質疑ETF的弱點，機構陰謀論頻出，「全是作秀，無實幹」的論調此起彼落。這一切的未知，就像一塊磁石，吸引了無數投資者和產業觀察家的關注，成為比特幣未來發展最懸念的篇章。暗流中，比特幣堅守“時間機器論”，等待新的動力，用時間證明自己的價值。

Bitcoin halving: a crucial turning point in fate

比特幣減半：命運的關鍵轉折點

On April 20, Bitcoin halved at block height 840,000. After the halving, the block reward will drop from 6.25 bitcoins to 3.125 bitcoins.

4月20日，比特幣在區塊高度84萬處減半。減半後，區塊獎勵將從 6.25 比特幣降至 3.125 比特幣。

Normally, the price of BTC will rise after the halving. After all, the price has hit new highs after the previous three halvings without exception. Many investors have the same expectations for the halving in April 2024, believing that this will undoubtedly

一般來說，減半後BTC的價格會上漲。畢竟，前三次減半後價格無一例外都創下了新高。許多投資人對2024年4月的減半抱持同樣的預期，認為這無疑將