這就是加密市場今天崩潰的原因：比特幣，XRP，Solana Analysis

加密貨幣市場本週的開始非常穩定，比特幣將超過8.8萬美元的價格傾斜至近2.1k美元 - 兩週的峰值。

Here’s Why the Crypto Market Is Crashing Today: Bitcoin, XRP, Solana AnalysisCrypto market had a very strong start of the week with Bitcoin pumping to over $88k and Ethereum to almost $2.1k – both 2-week peaks.

這就是為什麼加密市場今天崩潰的原因：比特幣，XRP，Solana AnalivaseCrypto市場在本週的開端非常穩定，比特幣將比特幣泵送至8.8萬美元以上，以太坊至近2.1k美元 - 兩週的峰值。

However, all gains are now mostly gone as Bitcoin and Ethereum are back to their last week levels of below $86k and $2k respectively.

但是，由於比特幣和以太坊的上週分別低於$ 86K和2,000美元，所有收益現在大部分都消失了。

Popular YouTube channel ‘Thinking Crypto’ released a viral video yesterday that featured a guy from Santiment, and they analysed the situation around Bitcoin, Ethereum, Solana and XRP. There were a few hints there that this week’s pump “didn’t have legs” so let’s dive in.

流行的YouTube頻道“ Thinking Crypto”昨天發布了一個病毒視頻，其中有一個來自Santiment的人，他們分析了比特幣，以太坊，Solana和XRP的情況。那裡有一些暗示，本週的泵“沒有腿”，所以讓我們潛水。

Bitcoin Analysis

比特幣分析

Bitcoin’s market performance tells an interesting story. Just a few weeks ago, the market was heavily skewed towards bearish territory. But things began to shift on March 9, which analysts highlight as a key bottom signal. Currently, the overall sentiment is neutral, with a slight bullish edge.

比特幣的市場表現講述了一個有趣的故事。就在幾週前，市場傾向於看跌領土。但是3月9日的情況開始轉移，分析師將重點作為關鍵底部信號。目前，總體情緒是中性的，有略有看漲的邊緣。

In terms of market performance, Bitcoin registered a weekly gain of about 7.5%. However, utility metrics present a more nuanced picture. Transaction volumes and active addresses have decreased slightly. Looking at wallet activity, 30-day active wallets saw a minor increase of 3.5%, while 1-year wallets show a 4.5% rise. These numbers suggest the market is in neutral territory, far from an overheated state.

在市場績效方面，比特幣的每週收益約為7.5％。但是，公用事業指標呈現出更細微的圖片。交易量和主動地址略有下降。從錢包活動中看，30天的活躍錢包的次要增加了3.5％，而一年的錢包則增長了4.5％。這些數字表明市場位於中立領土，遠非過熱狀態。

Examining whale activity offers more insight. After a quiet February, large Bitcoin holders have started accumulating again. Investors with wallets holding between 10 and 10,000 BTC have been steadily increasing their positions. This trend is particularly interesting because whales were buying even as the price was going down, which could be viewed as a bullish move.

檢查鯨魚活動提供了更多的見識。經過2月的安靜之後，大型比特幣持有人再次開始積累。持有10到10,000 BTC的錢包的投資者一直在穩步提高其頭寸。這種趨勢特別有趣，因為即使價格下跌，鯨魚也在購買，這可以看作是看漲的舉動。

Moving on to stablecoin metrics, Tether’s supply on exchanges has dropped from around $45 billion to $40 billion. USDC saw a recent supply spike but has since pulled back. While lower stablecoin reserves might reduce immediate market liquidity, it’s not necessarily a direct bearish indicator.

轉向Stablecoin指標，Tether的交流供應已從約450億美元下降到400億美元。 USDC看到了最近的供應峰值，但此後已退縮。儘管較低的穩定儲備可能會降低立即市場流動性，但不一定是直接的看跌指標。

Ethereum Analysis

以太坊分析

Ethereum shows a similar complex pattern. The cryptocurrency is up about 10% over the past week. However, key metrics tell a different story. Transaction volume and circulation are declining, and ETH wallets are still down around 29% on average.

以太坊顯示出類似的複雜模式。在過去一周中，加密貨幣增長了約10％。但是，關鍵指標講述了一個不同的故事。交易量和循環量正在下降，ETH錢包的平均水平仍然下降了約29％。

This underperformance could set the stage for a potential “regression to the mean” scenario. Market Value to Realized Value (MVRV) metrics suggest there’s room for upward movement. Funding rates and short positions are also worth noting. A spike in shorts could potentially lead to liquidations, driving prices up.

這種表現不佳可能為潛在的“均值回歸”情景奠定了基礎。實現價值的市場價值（MVRV）指標表明有向上移動的空間。資金率和短職位也值得注意。短褲的尖峰可能會導致清算，從而推動價格上漲。

There’s also hype about a potential Ethereum ETF with staking. Major players like Fidelity have filed, which could be a significant bullish catalyst if approved by the SEC. The current slightly negative sentiment has historically preceded upward price movements.

關於潛在的以太坊ETF的炒作也有炒作。像富達（Fidelity）這樣的主要參與者已提交，如果獲得美國證券交易委員會（SEC）的批准，這可能是一個重要的看漲催化劑。當前的略有負面情緒從歷史上一直在上漲之前。

Solana Analysis

索拉納分析

Solana had a major boost from BlackRock’s involvement. The tokenized fund moving to the Solana blockchain caused a massive surge in sentiment. Social media reaction was overwhelmingly positive, with a 10:1 positive to negative ratio – the highest in over a year.

索拉納（Solana）從貝萊德（Blackrock）的參與中得到了重大提升。遷移到Solana區塊鏈的標記基金引起了人們的巨大激增。社交媒體的反應絕大多數是積極的，而10：1積極的比例為10：1，這是一年多以來最高的。

Just in: Blackrock’s BUIDL fund is launching on Solana!@Securitize brings the largest yield-bearing tokenized treasury to Solana 🧬

就在：BlackRock的Buidl Fund在Solana上啟動！ @securitize將最大的承重令牌財政部帶到了Solana🧬

The SEC-approved investment vehicle will allow accredited investors to participate directly in a portfolio of seven crypto startups selected by Blackrock.

SEC批准的投資工具將允許經認可的投資者直接參與BlackRock選擇的七家加密初創公司的投資組合。

The move comes after months of rumors and anticipation, and marks a significant milestone for the Solana ecosystem.

此舉是在經過幾個月的謠言和期待之後，標誌著Solana生態系統的重要里程碑。

“We are excited to be working with Blackrock on this important initiative,” said Charles Lee, co-founder of Blockfolio and creator of the popular crypto news aggregator. “Their expertise in investing and technology will be invaluable in developing a successful tokenized fund.”

Blockfolio的聯合創始人，受歡迎的加密新聞集合商的創建者Charles Lee說：“我們很高興能與BlackRock合作制定這項重要的計劃。” “他們在投資和技術方面的專業知識對於建立成功的令牌基金將是無價的。”

The tokenized fund will be structured as a limited partnership, with Blackrock serving as the general partner and investors as limited partners. Investors will be able to purchase units of the fund with a minimum investment of $250,000.

代幣化基金將作為有限的合作夥伴關係結構，貝萊德（BlackRock）擔任普通合夥人和投資者作為有限合作夥伴。投資者將能夠以25萬美元的最低投資購買該基金的單位。

The fund will invest in a diversified portfolio of crypto startups across different sectors, such as DeFi, NFTs, and Web3. Some of the startups that the fund will invest in include Aave, Balancer, and Chainlink.

該基金將投資於跨不同領域（例如Defi，NFTS和Web3）的加密初創公司的多元化投資組合。該基金將投資的一些初創公司包括AAVE，Balancer和Chainlink。

The launch of Blackrock’s tokenized fund is a major development for the crypto industry. It could open the door for more institutional investors to enter the market and help to drive further growth.

BlackRock的令牌化基金的推出是加密行業的重大發展。它可以為更多的機構投資者打開大門，以進入市場並幫助推動進一步的增長。

Here are some of the key takeaways from the announcement:

這是公告的一些關鍵要點：

* Blackrock’s tokenized fund will be available to accredited investors only.

* BlackRock的令牌化基金僅適用於認可的投資者。

* The fund will invest in a diversified portfolio of crypto startups.

*該基金將投資多元化的加密初創公司。

* Investors will be able to purchase units of the fund with a minimum investment of $250,000.

*投資者將能夠以25萬美元的最低投資購買該基金的單位。

* The fund will be structured as a limited partnership.

*該基金將作為有限的合作夥伴關係結構。

* Blackrock will serve as

*貝萊德將作為