在美國 ETF 和機構採用的推動下，比特幣飆升至主導地位

截至上週六，比特幣在加密貨幣市場的主導地位已達到三年來的最高點 57％，表明對數位資產的強勁需求。這種主導地位的飆升歸因於貝萊德和富達投資等發行人成功推出美國現貨比特幣 ETF，這些發行人已累積了約 560 億美元的資產。流入這些 ETF 的資金推動 BTC 在 3 月中旬達到目前的歷史新高 73,798 美元。

Bitcoin's Resurgence: Market Dominance Reaches Three-Year High, Driven by US ETF Success and Institutional Adoption

比特幣的復甦：在美國 ETF 的成功和機構採用的推動下，市場主導地位達到三年來的新高

Bitcoin's dominance within the cryptocurrency market has surged to a three-year high, reaching nearly 55% of the total digital asset market capitalization. This surge signals a strong resurgence for Bitcoin and presents a challenging period for smaller tokens.

比特幣在加密貨幣市場的主導地位已飆升至三年來的新高，達到數位資產總市值的近55%。這種激增標誌著比特幣的強勁復甦，並為較小的代幣帶來了一個充滿挑戰的時期。

US Bitcoin ETF Launches Propel Bitcoin's Rise

美國比特幣ETF推出推動比特幣上漲

The recent launch of US spot Bitcoin ETFs from prominent issuers such as BlackRock and Fidelity Investments has played a pivotal role in Bitcoin's resurgence. These ETFs have attracted approximately $56 billion in assets, marking one of the most successful debuts in fund category history.

貝萊德和富達投資等知名發行人最近推出的美國現貨比特幣 ETF 在比特幣的復甦中發揮了關鍵作用。這些 ETF 吸引了約 560 億美元的資產，成為基金類別歷史上最成功的首次亮相之一。

The inflows into these ETFs have propelled Bitcoin to its current all-time high of $73,798 in mid-March. While Bitcoin has experienced a slight pullback since then, its dominance remains strong, indicating a shift in investor sentiment towards the largest cryptocurrency.

流入這些 ETF 的資金將比特幣推至 3 月中旬的歷史新高 73,798 美元。儘管比特幣此後經歷了小幅回調，但其主導地位仍然強勁，表明投資者情緒轉向最大的加密貨幣。

Smaller Tokens Under Pressure

壓力下較小的代幣

In contrast to Bitcoin's gains, smaller digital assets such as Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK) have faced notable declines of nearly 30% over the past month. This drop coincides with reduced expectations for a more dovish US monetary policy, which has often been linked to speculative gains in the cryptocurrency market.

與比特幣的上漲形成鮮明對比的是，Avalanche (AVAX)、Polkadot (DOT) 和 Chainlink (LINK) 等規模較小的數位資產在過去一個月中出現了近 30% 的顯著下跌。這一下降恰逢對美國貨幣政策更加鴿派的預期下降，而這種政策通常與加密貨幣市場的投機收益有關。

Institutional Investors Drive Bitcoin's Performance

機構投資者推動比特幣的表現

Institutional investors' allocations to the US Bitcoin ETF have significantly influenced Bitcoin's outperformance relative to the rest of the market. Institutional demand remains a key driver, as evidenced by the influx of capital into these ETFs.

機構投資者對美國比特幣 ETF 的配置極大地影響了比特幣相對於市場其他產品的優異表現。機構需求仍然是關鍵驅動因素，資本湧入這些 ETF 就證明了這一點。

Hong Kong-Listed ETFs Boost Bitcoin and Ethereum

香港上市 ETF 提振比特幣和以太坊

The announcement of asset managers preparing to launch Hong Kong-listed ETFs on Bitcoin and Ethereum further bolstered the crypto market. Bitcoin and Ethereum both experienced significant price jumps following this news, positively impacting the broader crypto market and lifting other notable tokens.

資產管理公司宣布準備推出在香港上市的比特幣和以太幣 ETF，進一步提振了加密貨幣市場。此消息發布後，比特幣和以太坊的價格均大幅上漲，對更廣泛的加密貨幣市場產生了積極影響，並提振了其他著名代幣。

Bloomberg Galaxy Crypto Index Rebounds from 2022 Bear Market

彭博銀河加密貨幣指數從 2022 年熊市反彈

The Bloomberg Galaxy Crypto Index, which measures the performance of the largest digital assets traded in US dollars, has more than tripled since the beginning of last year. This marks a significant rebound from the bear market experienced in 2022, indicating a renewed confidence in the crypto sector.

衡量以美元交易的最大數位資產表現的彭博銀河加密貨幣指數自去年年初以來已增長兩倍多。這標誌著從 2022 年經歷的熊市中顯著反彈，顯示人們對加密貨幣產業的信心重拾。

Anticipation for Bitcoin Halving

比特幣減半的預期

Investors and traders eagerly await the upcoming Bitcoin Halving, an event scheduled for around April 20th, which will cut the new supply of the token in half. Previous Halving events have historically acted as tailwinds for Bitcoin prices, although doubts remain about whether history will repeat itself given Bitcoin's recent all-time high achievement.

投資者和交易員熱切等待即將到來的比特幣減半，該事件定於 4 月 20 日左右舉行，屆時該代幣的新供應將減少一半。從歷史上看，先前的減半事件一直是比特幣價格的推動因素，儘管鑑於比特幣最近創下的歷史最高成就，人們仍然懷疑歷史是否會重演。

Bitcoin Consolidates Above $66,000

比特幣盤整至 66,000 美元以上

Bitcoin has maintained its position above the $66,000 level, consolidating in this range. However, it is important to note that losses have accumulated over longer time frames, with significant declines of over 21% and 24% experienced over the past fourteen and thirty days of trading, respectively.

比特幣維持在 66,000 美元上方，並在此區間內盤整。然而，值得注意的是，損失是在較長時間內累積的，過去 14 天和 30 天的交易中分別出現了超過 21% 和 24% 的顯著下跌。

Conclusion

結論

Bitcoin's resurgence to a three-year dominance high is a testament to the growing institutional adoption and demand for the largest digital asset. While smaller tokens face headwinds, the broader crypto market remains buoyed by bullish sentiment and anticipation of the upcoming Bitcoin Halving. Investors should exercise caution and conduct their own thorough research before making any investment decisions in this volatile and evolving market.

比特幣重新升至三年來的主導地位，證明了機構對這一最大數位資產的採用和需求不斷增長。儘管較小的代幣面臨阻力，但更廣泛的加密市場仍然受到看漲情緒和對即將到來的比特幣減半的預期的提振。在這個動盪且不斷變化的市場中做出任何投資決定之前，投資者應謹慎行事並進行徹底的研究。