比特幣（BTC）小幅反彈，但與山寨幣的相關性仍然是市場焦點

比特幣[BTC]在經歷了本週早些時候的大幅下跌後，在短短兩天內下跌了10%以上，但在過去24小時內出現了小幅反彈。

Bitcoin [BTC] began the week on a concerning note, dropping sharply by over 10% in just two days. However, the past 24 hours have seen a slight recovery in BTC’s price. During this period, Bitcoin’s price has increased by 0.5%, approaching the $60,000 mark.

比特幣 [BTC] 本週一開始就令人擔憂，在短短兩天內大幅下跌了 10% 以上。然而，過去24小時BTC價格略有回升。在此期間，比特幣價格上漲了0.5%，逼近6萬美元大關。

Despite this minor recovery, the asset remains down by 2.3% over the past week, reflecting a market still in flux. This price movement has sparked discussions among analysts, with particular focus on the correlation between Bitcoin and various altcoins.

儘管出現小幅復甦，但該資產在過去一周仍下跌 2.3%，反映出市場仍在不斷變化。這種價格走勢引發了分析師之間的討論，特別關注比特幣和各種山寨幣之間的相關性。

As Bitcoin continues to navigate a fluctuating price performance, a recent report by CryptoQuant analyst Joao Wedson highlights the strong correlation between Bitcoin and altcoins.

隨著比特幣價格持續波動，CryptoQuant 分析師 Joao Wedson 最近的一份報告強調了比特幣和山寨幣之間的緊密相關性。

According to Wedson, the current positive correlation suggests that altcoins are closely following Bitcoin’s price movements, indicating an alignment in the broader crypto market.

根據韋德森的說法，當前的正相關性表明山寨幣正在密切關注比特幣的價格走勢，這表明更廣泛的加密貨幣市場的一致性。

This behavior reflects investor confidence, as the synchronized movement suggests a level of stability in the market. However, the report warns that a shift to a negative correlation could serve as a red flag for Bitcoin and the market at large.

這種行為反映了投資者的信心，因為同步走勢顯示市場處於一定程度的穩定。然而，該報告警告稱，負相關性的轉變可能會給比特幣和整個市場帶來危險信號。

Historically, a negative correlation occurs when altcoins significantly out-perform Bitcoin, often leading to a subsequent drop in BTC’s price.

從歷史上看，當山寨幣的表現明顯優於比特幣時，就會出現負相關性，通常會導致比特幣價格隨後下跌。

This pattern was evident in January, June, and July of 2024, where altcoins outpaced Bitcoin, only for the market to experience a significant downturn shortly afterward.

這種模式在 2024 年 1 月、6 月和 7 月很明顯，山寨幣的表現超過了比特幣，但不久之後市場就經歷了嚴重的低迷。

Currently, altcoins such as Bancor (BNT), Axie Infinity (AXS), Chainlink (LINK), Algorand (ALGO), and Cardano (ADA) exhibit the highest correlation with Bitcoin, meaning their prices are moving in tandem with BTC.

目前，Bancor (BNT)、Axie Infinity (AXS)、Chainlink (LINK)、Algorand (ALGO) 和 Cardano (ADA) 等山寨幣與比特幣的相關性最高，這意味著它們的價格與比特幣同步波動。

In contrast, altcoins like Dash (DASH), Curve (CRV), dYdX (DYDX), Binance Coin (BNB), and MyNeighborAlice (ALICE) show lower correlation levels, indicating a more independent price movement.

相較之下，Dash (DASH)、Curve (CRV)、dYdX (DYDX)、Binance Coin (BNB) 和 MyNeighborAlice (ALICE) 等山寨幣的相關性水平較低，顯示價格走勢更加獨立。

Despite these variations, the overall positive correlation across altcoins suggests a market moving in unison with Bitcoin, signaling potential short-term stability. However, continuous monitoring is essential to detect any deviations that might signal increased risk.

儘管存在這些差異，但山寨幣之間的整體正相關性表明市場與比特幣一致變化，預示著潛在的短期穩定性。然而，持續監控對於檢測任何可能預示風險增加的偏差至關重要。

Cardano [ADA] has followed a trajectory largely mirroring Bitcoin’s price movements this week. Earlier in the week, ADA’s price dropped significantly, reaching a low of $0.34. Howeverгореючий, in the past 24 hours, ADA has shown signs of recovery, with its price rising by 2.8%. This recovery aligns with the broader market’s trend of slight rebounds following initial sharp declines.

卡爾達諾 [ADA] 的走勢很大程度上反映了本週比特幣的價格走勢。本週早些時候，ADA 的價格大幅下跌，跌至 0.34 美元的低點。不過，過去24小時內，ADA出現復甦跡象，價格上漲2.8%。這種復甦與大盤最初大幅下跌後小幅反彈的趨勢一致。

While ADA’s price dropped, its fundamentals indicate growing interest from large investors. Data from IntoTheBlock reveals a surge in large transactions—those greater than $100k—reaching nearly 4,000 as of today, a sharp increase from below 3k transactions recorded last week.

雖然 ADA 的價格下跌，但其基本面顯示大型投資者的興趣日益濃厚。 IntoTheBlock 的數據顯示，截至今天，大筆交易（超過 10 萬美元的交易）激增，達到近 4,000 筆，較上週記錄的不到 3,000 筆交易大幅增加。

This suggests that larger investors are taking advantage of the lower prices to accumulate ADA. In contrast, data from Santiment shows a decline in ADA’s number of active addresses over the past month, dropping to below 500k—a significant decrease from nearly 1 million addresses in March.

這表明較大的投資者正在利用較低的價格來累積 ADA。相較之下，Santiment 的數據顯示，過去一個月 ADA 的活躍地址數量有所下降，降至 50 萬以下，較 3 月的近 100 萬個地址大幅減少。

This decline in active addresses could reflect reduced retail investor activity, even as whales continue to engage with the asset.

活躍地址的下降可能反映出散戶活動的減少，儘管鯨魚繼續參與該資產。