ETF激增推動比特幣重拾市場霸主地位

在對持有該資產的美國 ETF 的強勁需求以及較小代幣面臨的挑戰的推動下，比特幣在加密貨幣市場的主導地位已達到三年來的新高。截至 3 月中旬，在主要發行人成功推出美國現貨 ETF 的支持下，比特幣佔 2.4 兆美元加密貨幣市場的近 55%。

Bitcoin Reignites Dominance in Crypto Market, Driven by Robust ETF Demand

在強勁的 ETF 需求推動下，比特幣重新佔據加密貨幣市場的主導地位

Amidst the volatility that has characterized the cryptocurrency landscape in recent months, Bitcoin has emerged as an indomitable force, reasserting its dominance with a three-year high. As of last week, the largest digital asset commanded nearly 55% of the $2.4 trillion crypto market, according to CoinMarketCap data, a level not witnessed since April 2021.

在近幾個月加密貨幣格局的波動中，比特幣已成為一股不屈不撓的力量，以三年高點重新確立了其主導地位。根據 CoinMarketCap 數據，截至上週，這一最大的數位資產佔據了 2.4 兆美元加密貨幣市場的近 55%，這是自 2021 年 4 月以來的最高水準。

This resurgence of Bitcoin's dominance can be attributed to several factors, primarily the robust demand for US exchange-traded funds (ETFs) that hold the top cryptocurrency. The launch of three-month-old US spot ETFs by issuers like BlackRock Inc. and Fidelity Investments has been met with overwhelming success, amassing approximately $56 billion in assets to date. This influx of institutional funds has fueled Bitcoin's ascent, propelling it to a record high of $73,798 in mid-March.

比特幣主導地位的復甦可歸因於幾個因素，主要是對持有頂級加密貨幣的美國交易所交易基金（ETF）的強勁需求。貝萊德 (BlackRock Inc.) 和富達投資 (Fidelity Investments) 等發行人推出的三個月期美國現貨 ETF 取得了巨大成功，迄今為止已積累了約 560 億美元的資產。機構資金的湧入推動了比特幣的上漲，使其在 3 月中旬達到 73,798 美元的歷史新高。

While Bitcoin has modestly retreated by around 6% since its peak, smaller digital assets have faced a significant downturn, plummeting by over 30%. This decline aligns with the diminished expectations for accommodative US monetary policy, which has historically served as a catalyst for speculative gains in the crypto market.

儘管比特幣自高峰以來已小幅回落約 6%，但規模較小的數位資產卻面臨嚴重下滑，暴跌超過 30%。這種下降與人們對美國寬鬆貨幣政策的預期減弱相一致，而美國寬鬆貨幣政策歷來一直是加密貨幣市場投機收益的催化劑。

"The allocation to US ETFs by institutional investors has significantly bolstered Bitcoin's performance compared to the rest of the market," remarked Benjamin Celermajer, director at digital-asset investment manager Magnet Capital.

數位資產投資管理公司 Magnet Capital 總監 Benjamin Celermajer 表示：“與市場其他產品相比，機構投資者對美國 ETF 的配置極大地提振了比特幣的表現。”

In a positive sign for the broader crypto market, Bitcoin and Ether, the second-largest cryptocurrency, experienced a surge on Monday. This uptick was driven by the news that asset managers are preparing to launch Hong Kong-listed ETFs for both tokens. Bitcoin rose by 4.3% to $66,575, while Ether gained 6.2% to reach $3,260. These rallies extended to other altcoins, including Polygon, Cardano, and the ever-popular Dogecoin.

對於更廣泛的加密市場來說，這是一個積極的跡象，比特幣和第二大加密貨幣以太幣週一經歷了飆升。這項上漲是由資產管理公司準備推出這兩種代幣在香港上市的 ETF 的消息所推動的。比特幣上漲 4.3% 至 66,575 美元，以太幣上漲 6.2% 至 3,260 美元。這些反彈延伸到了其他山寨幣，包括 Polygon、Cardano 和廣受歡迎的狗狗幣。

Since the beginning of last year, the Bloomberg Galaxy Crypto Index has skyrocketed by more than triple, recovering from the depths of a bear market in 2022. Crypto enthusiasts eagerly await the upcoming Bitcoin halving, an event that occurs every four years and reduces the supply of new tokens by half. Previous halvings have historically served as catalysts for price increases, although skepticism lingers regarding whether a similar outcome is probable given Bitcoin's recent surge.

自去年初以來，彭博銀河加密貨幣指數已飆升逾三倍，從2022 年的熊市深淵中恢復過來。導致供應量減少新代幣數量減半。從歷史上看，先前的減半一直是價格上漲的催化劑，儘管鑑於比特幣最近的飆升，人們對是否可能出現類似的結果仍持懷疑態度。

Despite these uncertainties, Bitcoin's dominance in the crypto market remains unyielding. Backed by robust institutional demand and the anticipation surrounding the halving event, Bitcoin stands poised to continue its reign as the undisputed king of cryptocurrency.

儘管存在這些不確定性，比特幣在加密市場的主導地位仍然堅不可摧。在強勁的機構需求和對減半事件的預期的支持下，比特幣有望繼續其作為無可爭議的加密貨幣之王的統治地位。