比特幣與以太坊比率警告加密市場謹慎

比特幣與以太坊的比率已達到 20.76，這是自 2021 年 4 月以來的最高水平，表明對比特幣的需求超過了以太坊。這一趨勢表明替代加密貨幣的風險偏好可能減弱，並且可能是恐懼取代 FOMO 的早期警告，尤其是對於較小的代幣。機構興趣的成長推動了比特幣的主導地位，最近比特幣 ETF 的激增就是例證。

Bitcoin-to-Ethereum Ratio Signals Caution in Crypto Market

比特幣與以太坊比率顯示加密市場需謹慎

[City, Date] - The Bitcoin-to-Ethereum ratio, a crucial indicator of market sentiment and relative strength between the two dominant cryptocurrencies, has surged to its highest level since April 2021, raising concerns about the future direction of the crypto market.

[城市，日期] - 比特幣與以太坊的比率是市場情緒和兩種主要加密貨幣之間相對強度的重要指標，已飆升至2021 年4 月以來的最高水平，引發了人們對加密貨幣市場未來方向的擔憂。

The ratio, which gauges the price of Bitcoin, the world's largest digital asset, against Ethereum, its second-ranked rival, suggests a potential shift in risk appetite towards more established cryptocurrencies.

該比率衡量了全球最大數位資產比特幣與其第二大競爭對手以太坊的價格，表明風險偏好可能轉向更成熟的加密貨幣。

A rising ratio indicates that Bitcoin is outperforming Ethereum, while a declining ratio suggests the opposite. The current trend, which has seen the BTC/ETH ratio reach 20.76, implies a stronger demand for Bitcoin, the elder statesman of cryptocurrencies, than its upstart competitor.

比率上升表示比特幣的表現優於以太坊，而比率下降則表示相反。目前的趨勢是，BTC/ETH 比率達到 20.76，這意味著對加密貨幣元老比特幣的需求比其新興競爭對手更強勁。

Analysts at QCP Capital, cited by Bloomberg, interpret this trend as an early warning of fear of missing out (FOMO) transitioning into "fear" in the broader crypto market. Ethereum, they argue, is often used as a proxy for sentiment towards smaller tokens and alternative cryptocurrencies.

彭博社引述 QCP Capital 分析師的話說，這一趨勢是對更廣泛的加密貨幣市場中「害怕錯過」(FOMO) 轉變為「恐懼」的早期警告。他們認為，以太坊經常被用作對較小代幣和替代加密貨幣的情緒的代表。

One key factor driving Bitcoin's ascendance may be the growing institutional interest in the cryptocurrency. In mid-March, Bitcoin reached a record high of $73,798 on the back of inflows into dedicated U.S. exchange-traded funds (ETFs) that debuted in January.

推動比特幣崛起的關鍵因素可能是機構對加密貨幣日益增長的興趣。 3 月中旬，隨著資金流入 1 月推出的美國專用交易所交易基金 (ETF)，比特幣創下了 73,798 美元的歷史新高。

However, the ETF-led Bitcoin surge has cooled over the past three weeks, partly due to economic indicators pointing towards higher-than-expected interest rates. At the time of writing, Bitcoin has retreated by approximately 9.33% from its all-time high, reaching $66,563, marking a 0.37% decline over the past 24 hours.

然而，ETF主導的比特幣飆昇在過去三週已經降溫，部分原因是經濟指標顯示利率高於預期。截至本文撰寫時，比特幣已從歷史高點回落約 9.33%，達到 66,563 美元，在過去 24 小時內下跌了 0.37%。

Ethereum, the second largest cryptocurrency by market capitalization, has also declined more steeply than Bitcoin in recent hours, losing 3.06% over the past 24 hours to reach $3247.

以市值計算的第二大加密貨幣以太坊最近幾個小時的跌幅也超過了比特幣，在過去 24 小時內下跌了 3.06%，至 3,247 美元。

The decline in Bitcoin and Ethereum has had ripple effects across the wider crypto market, with most alternative cryptocurrencies, or altcoins, suffering even steeper losses. These developments highlight the potential volatility of the crypto market and the importance of monitoring key indicators, such as the Bitcoin-to-Ethereum ratio, to gauge market sentiment and potential risks.

比特幣和以太幣的下跌對更廣泛的加密貨幣市場產生了連鎖反應，大多數替代加密貨幣或山寨幣遭受了更嚴重的損失。這些事態發展凸顯了加密貨幣市場的潛在波動性以及監控比特幣與以太坊比率等關鍵指標以衡量市場情緒和潛在風險的重要性。