比特幣的主導地位下滑暗示風險承受能力減弱以及對股市調整的擔憂

衡量比特幣和以太幣之間價格關係的指標顯示投資者的風險偏好可能下降。該比率上次達到高點是在 2021 年 4 月，這表明與規模較小的競爭對手相比，對比特幣的需求有所增加。加密資產交易商 QCP Capital 表示，這種模式可能標誌著從錯過的恐懼轉變為恐懼。

Bitcoin's Dominance Signals Waning Risk Appetite and Fears of a Stock Market Correction

比特幣的主導地位表明風險偏好減弱以及對股市調整的擔憂

The widening price gap between Bitcoin and Ether, the respective leaders of the digital asset market, has ignited concerns that investors' risk tolerance is diminishing. The ratio between the two cryptocurrencies reached 20 this week, a level not seen since April 2021, indicating a heightened demand for Bitcoin over its smaller rival.

數位資產市場的領導者比特幣和以太幣之間不斷擴大的價差引發了人們對投資者風險承受能力正在下降的擔憂。這兩種加密貨幣之間的比率本週達到 20，這是自 2021 年 4 月以來的最高水平，這表明對比特幣的需求高於其規模較小的競爭對手。

According to QCP Capital's Friday report, this trend could be "a very early signal" of investors transitioning from their fear of missing out (FOMO) to a sentiment of fear. The report highlights the waning interest in cryptocurrency exchange-traded funds (ETFs) that had fueled Bitcoin's record high in mid-March. The subsequent cooling of ETF demand has led to a 9% decline in Bitcoin's value, while smaller digital assets have plummeted by approximately 20%.

根據 QCP Capital 週五的報告，這一趨勢可能是投資者從害怕錯過機會 (FOMO) 轉變為恐懼情緒的「一個非常早期的信號」。該報告強調了人們對加密貨幣交易所交易基金（ETF）興趣的減弱，正是這種興趣推動了比特幣在 3 月中旬創下歷史新高。隨後 ETF 需求降溫導致比特幣價值下跌 9%，而規模較小的數位資產則暴跌約 20%。

Beyond the cryptocurrency sector, strategists at Stifel Nicolaus & Co. have expressed concerns that a potential peak in Bitcoin's price due to declining investor interest could signal a broader weakness in the stock market.

除了加密貨幣領域之外，Stifel Nicolaus & Co. 的策略師也表示擔心，由於投資者興趣下降，比特幣價格可能觸頂，這可能預示著股市更廣泛的疲軟。

Amidst this backdrop, cryptocurrency traders eagerly await the upcoming Bitcoin halving, a periodic event that drastically reduces the issuance of new tokens. However, skepticism persists regarding whether the halving will live up to expectations as a bullish catalyst for Bitcoin's price.

在此背景下，加密貨幣交易者熱切等待即將到來的比特幣減半，這是一個週期性事件，會大幅減少新代幣的發行。然而，人們仍懷疑減半是否會達到預期，成為比特幣價格的看漲催化劑。

As of 8:10 AM London time on Friday, Bitcoin had depreciated by 1.5% to $66,940, while Ether had experienced a similar decline to $3,278. The broader cryptocurrency market has also witnessed widespread losses, with most notable tokens recording declines.

截至倫敦時間週五上午 8:10，比特幣已貶值 1.5% 至 66,940 美元，而以太幣也經歷了類似的跌幅，至 3,278 美元。更廣泛的加密貨幣市場也出現了廣泛的損失，大多數值得注意的代幣都出現了下跌。

The waning dominance of Bitcoin and the mounting fears of a stock market correction raise questions about the sustainability of the cryptocurrency bull run. Investors should exercise caution and consider diversifying their portfolios amid the increasing market volatility.

比特幣主導地位的減弱和對股市調整的擔憂日益加劇，引發了人們對加密貨幣牛市可持續性的質疑。在市場波動加劇的情況下，投資人應謹慎行事並考慮分散投資組合。