比特幣市場在減半和全球動盪中波動

比特幣的價格在即將到來的減半事件之前波動，這將減少礦工的區塊獎勵並減緩比特幣的供應。減半是每四年發生一次的計畫事件，歷史上一直伴隨著加密貨幣的看漲趨勢。然而，最近的地緣政治緊張局勢、礦商的看跌情緒以及比特幣交易所交易基金的負淨流量都加劇了市場壓力。儘管今年表現強勁，價格上漲了 50%，但比特幣仍面臨阻力，因為礦商在減半之前拋售比特幣以維持盈利能力並穩定資產負債表。

Bitcoin Market Swings Amidst Halving Event and Global Turmoil

比特幣市場在減半事件和全球動盪中波動

The cryptocurrency market is experiencing significant volatility as the highly anticipated Bitcoin halving event approaches this week. Halving, an integral part of Bitcoin's code, occurs every four years, reducing the block rewards earned by miners by half. This event inevitably slows down the supply of Bitcoin entering the market.

隨著備受期待的比特幣減半事件本週臨近，加密貨幣市場正經歷劇烈波動。減半是比特幣程式碼不可或缺的一部分，每四年發生一次，使礦工獲得的區塊獎勵減少一半。這一事件不可避免地減緩了比特幣進入市場的供應。

Historically, halving events have been followed by bullish runs for Bitcoin. However, this time around, the market is grappling with a confluence of factors that are dampening the expected surge.

從歷史上看，減半事件之後都會出現比特幣的看漲行情。然而，這一次，市場正在努力應對抑制預期上漲的多種因素。

One major factor influencing crypto prices is last weekend's unprecedented drone and missile attack on Israel by Iran. On Saturday, Bitcoin hovered around the $70,000 mark, but its value has since fluctuated significantly.

影響加密貨幣價格的一個主要因素是上週末伊朗對以色列進行的前所未有的無人機和飛彈襲擊。週六，比特幣徘徊在 7 萬美元大關附近，但此後其價值大幅波動。

In addition to geopolitical tensions, Bitcoin is also facing headwinds from other angles. Amina, a leading cryptocurrency bank, has identified several factors contributing to bearish sentiments in the market. These include miners selling off their Bitcoin reserves ahead of the halving, declining trading volumes, and negative net flows in Bitcoin exchange-traded funds (ETFs).

除了地緣政治緊張局勢外，比特幣還面臨其他角度的阻力。領先的加密貨幣銀行 Amina 發現了導致市場看跌情緒的幾個因素。其中包括礦商在減半前拋售比特幣儲備、交易量下降、比特幣交易所交易基金（ETF）淨流量為負。

Miners, who are responsible for verifying and adding new blocks to the Bitcoin blockchain, are particularly concerned about the halving. As their rewards will be cut in half, some mining operations may become unprofitable. To mitigate this risk, miners are selling their Bitcoin to shore up their balance sheets.

負責驗證並在比特幣區塊鏈中添加新區塊的礦工尤其擔心減半。由於他們的獎勵將減少一半，一些採礦業務可能會變得無利可圖。為了減輕這種風險，礦商正在出售比特幣以支撐資產負債表。

"Miner balances are near an all-time low," Amina noted in a research report. "This comes at the back of heavy selling from miners as they scramble to take profits ahead of the halving."

阿米娜在一份研究報告中指出：“礦工餘額接近歷史最低點。” “這是在礦商大量拋售的背景下發生的，因為他們爭先恐後地在減半之前獲利了結。”

The negative net flows in Bitcoin ETFs are another factor putting pressure on the cryptocurrency's price. ETFs, which track the price of Bitcoin without requiring investors to hold the actual cryptocurrency, have seen a decline in inflows since last week. This indicates that investors are withdrawing their funds from Bitcoin, further depressing its value.

比特幣 ETF 的負淨流量是給加密貨幣價格帶來壓力的另一個因素。 ETF 追蹤比特幣價格，無需投資者持有實際的加密貨幣，自上週以來資金流入有所下降。這表明投資者正在從比特幣中撤出資金，進一步壓低其價值。

Despite these challenges, Bitcoin has had a strong year overall, with its price rising by over 50%. The cryptocurrency reached an all-time high above $73,000 in March, driven largely by the approval of Bitcoin ETFs in the United States earlier this year.

儘管面臨這些挑戰，比特幣整體表現強勁，價格上漲了 50% 以上。受今年稍早美國批准比特幣 ETF 的推動，這種加密貨幣在 3 月達到了 73,000 美元以上的歷史新高。

As the halving event unfolds, it remains to be seen how the market will react. While there is historical precedent for a bullish run, the confluence of factors currently weighing down on Bitcoin could temper the expected surge. Investors are closely monitoring the situation and weighing the potential risks and rewards of investing in Bitcoin at this crucial juncture.

隨著減半事件的展開，市場將如何反應仍有待觀察。儘管歷史上有看漲的先例，但實際上打壓比特幣的因素的綜合作用可能會緩和預期的飆升。投資者正在密切關注事態發展，並權衡在此關鍵時刻投資比特幣的潛在風險和回報。