加密貨幣市場復甦：風險情緒推動反彈，技術面預示進一步上漲

4 月 22 日，受比特幣和以太幣上漲的推動，加密貨幣市場飆升。此次上漲恰逢傳統市場風險偏好重新抬頭，因為投資者關注即將發布的企業獲利報告。比特幣 ETF 的積極流入和加密貨幣衍生性商品活動的增加表明投資者信心不斷增強。技術分析顯示看漲趨勢線，上行目標為 3.25 兆美元，受到 RSI 接近上升趨勢線和心理支撐位的支撐。

The Resurgence of Cryptocurrency Market: Risk-On Sentiment Prevails, Driving Gains

加密貨幣市場復甦：風險情緒盛行，推動收益

April 22, 2023: The cryptocurrency market has witnessed a resurgence in bullish sentiment, with the total market capitalization surging by 2.65% over the past 24 hours to reach $2.38 trillion. This upward trajectory has been spearheaded by the two leading cryptocurrencies, Bitcoin (BTC) and Ether (ETH), which have experienced notable gains of 2.40% and 2.80%, respectively.

2023 年 4 月 22 日：加密貨幣市場看漲情緒復甦，總市值在過去 24 小時內飆升 2.65%，達到 2.38 兆美元。這種上升軌跡是由兩種領先的加密貨幣比特幣 (BTC) 和以太幣 (ETH) 引領的，它們分別經歷了 2.40% 和 2.80% 的顯著漲幅。

Return of Risk-On Mood

風險情緒迴歸

The cryptocurrency market's gains today align with the return of risk-on sentiment that has swept across traditional markets. The S&P 500 futures, a barometer of investor sentiment, has advanced by 0.33% to 5,031 points, signaling a shift away from escalating geopolitical tensions in the Middle East and towards the upcoming release of corporate earnings, including those from tech giants like Microsoft, Meta, and Alphabet.

今天加密貨幣市場的上漲與席捲傳統市場的風險偏好情緒的回歸一致。作為投資者情緒晴雨表的標普 500 指數期貨上漲 0.33%，至 5,031 點，表明中東地緣政治緊張局勢升級，轉向即將發布的企業財報，其中包括微軟、Meta 等科技巨頭的財報。

A Bloomberg's Markets Live Pulse survey has revealed that nearly two-thirds of the 409 respondents believe that corporate earnings will boost the U.S. equity benchmark, representing the highest confidence in corporate profits since the inception of the survey in October 2022. This positive outlook on the S&P 500 has extended its influence to the cryptocurrency market, supported by the rise in their 30-day average correlation to 0.82, the highest positive correlation in a month.

彭博社的 Markets Live Pulse 調查顯示，409 名受訪者中近三分之二認為企業盈利將提振美國股市基準，這是自 2022 年 10 月開展調查以來對企業盈利的最高信心。的影響力已擴大到加密貨幣市場，其30 天平均相關性升至0.82，為一個月內最高正相關性。

Interestingly, the Bitcoin-S&P 500 correlation has strengthened since Iran's missile and drone attacks on Israel on April 13, which initially dampened investor sentiment.

有趣的是，自 4 月 13 日伊朗對以色列發動飛彈和無人機攻擊以來，比特幣與標準普爾 500 指數的相關性有所加強，這最初打擊了投資者的情緒。

Positive Bitcoin ETF Net Inflows

比特幣 ETF 淨流入正

The crypto market's gains today are part of a larger recovery that initiated when net inflows into spot Bitcoin exchange-traded funds (ETFs) turned positive after experiencing significant outflows. On April 19, these funds collectively received approximately $60 million, marking the first positive daily net flow after encountering outflows totaling $319 million over the preceding seven days. Since then, the crypto market capitalization has rebounded by roughly 14%.

今天加密貨幣市場的上漲是更大復甦的一部分，這種復甦是在經歷大量資金流出後，現貨比特幣交易所交易基金（ETF）的淨流入轉為正值時開始的。 4 月 19 日，這些基金總共收到約 6,000 萬美元，這是在前 7 天遭遇總計 3.19 億美元的資金流出後首次出現日淨流量正值。此後，加密貨幣市值已反彈約 14%。

Positive net inflows into Bitcoin ETFs during periods of price decline indicate that investors remain confident in future gains, utilizing the downturn as an opportunity to accumulate assets at lower prices with the expectation of market recovery.

在價格下跌期間，比特幣 ETF 出現淨流入，顯示投資者對未來收益仍充滿信心，並利用經濟低迷期作為機會，以較低價格累積資產，並期待市場復甦。

Increasing Activity across Crypto Derivatives

加密貨幣衍生性商品的活動增加

The crypto market's gains today coincide with a surge in trading activity within the derivatives market. The market's open interest (OI) in options and futures markets has increased by 1.84% and 1.19% in the past 24 hours, demonstrating growing speculation among retail investors. Institutional investors have also exhibited similar sentiment, with CME's Bitcoin Futures OI rising by 1.70% during the same period.

今天加密貨幣市場的上漲與衍生性商品市場內交易活動的激增同時發生。在過去24小時內，市場選擇權和期貨市場的持倉量（OI）分別增加了1.84%和1.19%，顯示散戶投資人的投機行為日益增加。機構投資者也表現出類似的情緒，同期芝商所比特幣期貨 OI 上漲 1.70%。

A notable 8.81% rise in 24-hour futures volume was also observed, suggesting an increase in market liquidity, which typically contributes to a more stable trading environment. Heightened activity in futures markets often precedes spot market movements, further indicating growing investor confidence.

24 小時期貨交易量也顯著增長了 8.81%，這表明市場流動性增加，這通常有助於更穩定的交易環境。期貨市場的活躍程度往往先於現貨市場的波動，這進一步顯示投資者信心不斷增強。

Sharp Technical Rebound Underway

急劇的技術反彈正在進行中

Various technical indicators suggest that the crypto market is poised for further bullish momentum. One key indicator is the market capitalization's rebound from the lower trendline of a bullish continuation pattern known as a bull flag. This pattern typically resolves when the price breaks above the upper trendline and ascends by the height of the preceding uptrend, indicating a potential target of approximately $3.25 trillion for the crypto market.

各種技術指標表明，加密貨幣市場有望進一步看漲。一個關鍵指標是市值從看漲持續模式（稱為牛旗）的較低趨勢線反彈。當價格突破上趨勢線並上升先前上升趨勢的高度時，這種模式通常會消失，這表明加密貨幣市場的潛在目標約為 3.25 兆美元。

Reinforcing the bullish outlook is the market's proximity to its multi-month ascending trendline support. The market capitalization's bounce off this line reinforces the support level, suggesting the continuation of the long-term bullish trend.

市場接近數月上升趨勢線支撐位，強化了看漲前景。市值從該線反彈加強了支撐位，顯示長期看漲趨勢的延續。

Furthermore, the market's daily relative strength index (RSI) reading indicates psychological support around 38, a level at which rebounds of approximately 80% have historically occurred.

此外，市場每日相對強弱指數（RSI）讀數顯示心理支撐位在 38 左右，歷史上曾出現過約 80% 反彈的水平。

Disclaimer: This article does not constitute investment advice or recommendations. Cryptocurrency investments carry inherent risks, and readers should conduct thorough research before making any investment decisions.

免責聲明：本文不構成投資建議或推薦。加密貨幣投資具有固有的風險，讀者在做出任何投資決定之前應進行徹底的研究。