加密貨幣市場正試圖在 2025 年開始成長

加密貨幣市場正試圖在 2025 年開始成長，自年初以來成長了 4%。與 12 月底一樣，市場陷入停滯

The crypto market is trying to start 2025 on a positive note, adding 4% since the beginning of the year. Like in late December, the market is stalling on reaching a capitalisation of $3.41 trillion. This time, the positive mood of cryptocurrency enthusiasts was undermined by a sharp downward reversal in the US and Chinese stock markets.

加密貨幣市場正試圖以積極的姿態開啟 2025 年，自年初以來成長了 4%。與 12 月底一樣，市場在達到 3.41 兆美元的市值時停滯不前。這一次，加密貨幣愛好者的正面情緒因美國和中國股市的大幅下跌而受到損害。

We pay attention to the reduced trading volumes, which indicate a wait-and-see attitude among market participants and a search for new ideas. At the same time, the support of around $3.20 trillion makes the latest pullback a correction, not a reversal.

我們關注交易量的減少，這表明市場參與者處於觀望態度並尋求新的想法。同時，約 3.20 兆美元的支撐使得最新的回調是修正，而不是逆轉。

Bitcoin fell 3.5% to $93,600 in December. Growth for the full year of 2024 was 120% after 158% a year earlier. The first cryptocurrency has strengthened for seven months in the past year, becoming one of the year’s best-performing assets.

12 月份，比特幣下跌 3.5%，至 93,600 美元。 2024 年全年成長率為 120%，而上年同期成長率為 158%。第一種加密貨幣在過去的一年連續七個月走強，成為今年表現最好的資產之一。

In terms of seasonality, January is considered a relatively successful month for BTC. Over the past 14 years, bitcoin has ended the month with growth on seven occasions. The average rise was 22.5%, while the average decline was 14.6%.

從季節性來看，一月被認為是 BTC 相對成功的月份。在過去 14 年裡，比特幣曾七次在本月結束時出現成長。平均上漲22.5%，平均下跌14.6%。

Technically, bitcoin has bounced off the 61.8% level from the November rally and is attempting to return above the 50-day moving average. A solid break above $97,000 will allow us to expect new highs above $110,000 soon. However, we should be prepared for a strengthening of selling, as we are currently seeing in equities.

從技術上講，比特幣已從 11 月上漲的 61.8% 水平反彈，並試圖重返 50 日移動均線上方。突破 97,000 美元將使我們有望很快突破 110,000 美元新高。然而，我們應該為拋售加強做好準備，正如我們目前在股市所看到的那樣。

News Background

新聞背景

IntoTheBlock notes that throughout 2024, the number of long-term Ethereum holders has been rising, while Bitcoin’s metric has been steadily declining. The percentage holding ETH for more than a year increased from 59% in January to 75% in December. For BTC, the metric dropped from around 70% to 62%.

IntoTheBlock 指出，整個 2024 年，長期持有以太坊的人數一直在增加，而比特幣的指標卻在穩步下降。持有 ETH 一年以上的比例從 1 月的 59% 上升到 12 月的 75%。對於 BTC，該指標從 70% 左右下降到 62%。

Another recalculation increased the first cryptocurrency’s mining difficulty by 1.08%, reaching a record of 109.78 T. The average hash rate for the period since the previous change was 777 EH/s.

另一次重新計算將第一個加密貨幣的挖礦難度提高了1.08%，達到了歷史最高的109.78T。

MicroStrategy purchased an additional 2,138 BTC for ~$209 million over the past week at an average price of around $97.837 per coin. The company now holds 446,400 BTC, which were purchased for a combined $27.9bn at an average price of $62,428 per coin.

過去一周，MicroStrategy 以約 2.09 億美元的價格額外購買了 2,138 枚 BTC，平均價格約為每枚 97.837 美元。該公司目前持有 446,400 BTC，購買價格總計 279 億美元，平均價格為每枚 62,428 美元。

CoinGecko calculated the profitability of crypto market sectors in 2024. The most profitable narrative of the crypto industry was AI. Second and third place went to meme coins and RWAs.

CoinGecko 計算了 2024 年加密貨幣市場領域的獲利能力。第二和第三名是 Meme 幣和 RWA。

CryptoQuant notes that Coinbase’s premium has reached a 12-month low. This signals insufficient institutional demand and caution among US investors.

CryptoQuant 指出，Coinbase 的溢價已達 12 個月低點。這顯示機構需求不足，美國投資者也持謹慎態度。