比特幣和數位資產預計在 2024 年迎來標誌性的一年

今年對於將數位資產確立為華爾街投資者的可行資產來說是重要的一年。

Top 10 Crypto Moments of 2024: From BTC’s Road to $100,000 to MicroStrategy’s Massive Buying Spree

2024 年加密貨幣十大時刻：從 BTC 的 10 萬美元之路到 MicroStrategy 的大規模購買熱潮

By CCN.com December 29, 2024

作者：CCN.com 2024 年 12 月 29 日

2024 has been a banner year for Bitcoin, cryptocurrencies, and digital assets.

2024 年對於比特幣、加密貨幣和數位資產來說是標誌性的一年。

With the launch of the spot BTC exchange-traded fund in January, the maturing market, and the smooth fourth halving, several multi-billion dollar liquidations and sell-offs couldn’t stop BTC’s success this year. The price of BTC in U.S. dollar terms is up nearly 140% year to date and has risen even more relative to other fiat currencies (some of which experienced significant depreciation in 2024).

隨著1月現貨BTC交易所交易基金的推出、市場的成熟以及第四次減半的順利進行，數次數十億美元的清算和拋售無法阻止BTC今年的成功。以美元計算的 BTC 價格今年迄今上漲了近 140%，相對於其他法定貨幣（其中一些法定貨幣在 2024 年經歷了大幅貶值）的漲幅甚至更大。

The 2024 U.S. election also holds vast implications for cryptocurrencies. Never before have Bitcoin or digital assets received so much attention on the world stage — at least not in such a positive way.

2024 年美國大選也對加密貨幣產生巨大影響。比特幣或數位資產從未在世界舞台上受到如此多的關注——至少沒有以如此積極的方式受到關注。

President Trump expressed support for progressive regulation and open dialogue with the industry over the summer. He even made an appearance at the Bitcoin Nashville conference shortly after an attempt was made on his life. Much of the cryptocurrency community rallied around Republican candidate and eventual Democratic nominee Kamala Harris to start making some positive moves around crypto.

川普總統表示支持在夏季進行漸進式監管並與業界進行公開對話。在有人企圖殺害他後不久，他甚至出現在比特幣納許維爾會議上。許多加密貨幣社區都聚集在共和黨候選人和最終的民主黨候選人卡瑪拉·哈里斯周圍，開始圍繞加密貨幣採取一些積極行動。

Ahead of the November 5 election, Bitcoin saw a “Trump trade” from market participants. A special election contract on Deribit attracted billions of dollars in volume and open interest ahead of the election, and traders betting on new all-time highs soon after the election saw a major bullish bias. They were right, and by November BTC volume had exceeded $75,000.

在 11 月 5 日大選之前，市場參與者對比特幣進行了「川普交易」。 Deribit 上的一份特殊選舉合約在選舉前吸引了數十億美元的交易量和未平倉合約，而在選舉後不久押注歷史新高的交易員看到了重大的看漲偏見。他們是對的，到 11 月，BTC 交易量已超過 75,000 美元。

The overall Senate vote, as well as the final vote, was widely viewed as positive for cryptocurrencies. As a result, BTC led the post-election rally for crypto assets, topping $80,000 by Nov. 11.

參議院的整體投票以及最終投票被廣泛認為對加密貨幣有利。結果，比特幣引領了選舉後加密資產的上漲，到 11 月 11 日突破了 8 萬美元。

As we showed above, the increasingly bullish sentiment continued throughout the rest of November and into December, with Bitcoin currently trading at an all-time high of over $107,000.

正如我們上面所顯示的，日益看漲的情緒在 11 月剩餘時間和 12 月持續，比特幣目前交易價格超過 107,000 美元的歷史高點。

Bitcoin Fees Surge Before the Fourth Halving

比特幣費用在第四次減半前飆升

The fourth Bitcoin halving took place on April 19 this year. On Saturday, Bitcoin’s average transaction fee soared to a record high of $146. This was significantly higher than Ethereum’s average fee of $3 that day.

比特幣第四次減半發生在今年 4 月 19 日。週六，比特幣的平均交易費用飆升至 146 美元的歷史新高。這明顯高於以太幣當天 3 美元的平均費用。

The historic surge in Bitcoin network fees was perhaps its most significant development in the fourth quarter. Despite warning signs, it caught many market participants by surprise.

比特幣網路費用的歷史性飆升可能是第四季最重要的發展。儘管有警告跡象，但它還是讓許多市場參與者感到驚訝。

Ordinals founder Casey Rodamor announced plans to launch Runes, a protocol that makes it easier to issue fungible tokens on Bitcoin. However, while users may have expected a rise in transaction fees based on Ordinals’ impact on transaction fees, the historic increase still caught many by surprise.

Ordinals 創始人 Casey Rodamor 宣布計劃推出 Runes，這是一種可以更輕鬆地在比特幣上發行可替代代幣的協議。然而，儘管基於序數對交易費用的影響，用戶可能會預期交易費用會上漲，但歷史性的成長仍然讓許多人感到驚訝。

Ordinals allow node operators to burn data and images onto newly created Bitcoin blocks. These so-called “registrations” are similar to NFTs, increasing demand for Bitcoin block space and boosting the fees earned by BTC miners.

序號允許節點運營商將數據和圖像刻錄到新創建的比特幣區塊上。這些所謂的「註冊」類似於 NFT，增加了對比特幣區塊空間的需求，並提高了 BTC 礦工賺取的費用。

The launch of Runes proceeded in a similar manner. The launch of the protocol led to an increase in demand for block space, which in turn impacted fees.

Runes 的推出也是以類似的方式進行的。該協議的推出導致了對區塊空間的需求增加，進而影響了費用。

BlackRock Surpasses Grayscale

貝萊德超越灰階

BTC ETFs have broken all kinds of records this year, with total assets under management of 11 funds rising to over $100 billion.

BTC ETF今年打破了各種記錄，11檔基金管理的總資產升至1,000億美元以上。

BlackRock is the big winner, showing that major institutions are interested in Bitcoin and digital assets. Its spot BTC ETF has over $55 billion in assets under management, surpassing Grayscale’s GBTC in a matter of months.

貝萊德是大贏家，顯示各大機構對比特幣和數位資產感興趣。其現貨 BTC ETF 管理的資產超過 550 億美元，在幾個月內就超過了 Grayscale 的 GBTC。

Launched in 2013 by digital asset manager Grayscale, GBTC is largely a crypto-first product, and its huge premium/discount to net asset value means that institutional buying is limited. As a result, it was quickly surpassed by BlackRock after the ETF was launched this year.

GBTC 由數位資產管理公司 Grayscale 於 2013 年推出，很大程度上是一種加密貨幣優先產品，其相對資產淨值的巨大溢價/折價意味著機構購買受到限制。結果今年ETF推出後，很快就被貝萊德超越。

GBTC has been losing assets for much of this year after the firm decided to keep fees at 1.5%. In the U.S. ETF space, where firms are used to low fees, much of Wall Street prefers BlackRock and Fidelity to GBTC.

在公司決定將費用維持在 1.5% 後，GBTC 今年大部分時間都在虧損。在美國 ETF 領域，公司習慣了低費用，華爾街的大部分人更喜歡貝萊德和富達，而不是 GBTC。

ETH/BTC Ratio Drops

ETH/BTC 比率下降

The ETH/BTC ratio has continued to decline since the merger and shows no signs of slowing down in 2024. The ratio compares the performance of the two assets and falls when Ethereum underperforms Bitcoin.

自合併以來，ETH/BTC 比率持續下降，並且在 2024 年沒有任何放緩的跡象。

Other factors contributing to the decline include the rise of Solana as users migrated to cheaper networks during a period of heightened speculation in March and the fourth quarter of this year. Meme tokens (which we’ll discuss later) were behind much of the speculation and drove Solana DEX volume to surpass Ethereum at times this year.

導致下降的其他因素包括 Solana 的崛起，因為在 3 月和今年第四季投機活動加劇期間，用戶遷移到更便宜的網路。 Meme 代幣（我們稍後將討論）是許多猜測的幕後黑手，並推動 Solana DEX 交易量在今年有時超過了以太坊。

It fell to 0.033 in November, its lowest level since March 2021. What’s behind the poor performance?

11月跌至0.033，為2021年3月以來的最低水準。