隨著調整擔憂消退，加密貨幣市場飆升，接近歷史高點

加密貨幣市場週一反彈，比特幣 (BTC) 接近 67,000 美元，扭轉了周末的跌勢。山寨幣也大幅上漲，Coindesk 市場指數中的 173 種數位資產中有 163 種每日上漲。以太幣 (ETH) 仍維持在 3,200 美元附近，表現不佳，上漲 1.5%。某些山寨幣和 memecoin 的融資利率嚴重為負，顯示在空頭擠壓的推動下可能大幅上漲。

Cryptocurrency Markets Surge, Nearing Previous Highs as Fears of Correction Wane

隨著修正的擔憂減弱，加密貨幣市場飆升，接近歷史高點

In a significant upswing, cryptocurrency markets exhibited substantial gains on Monday, with Bitcoin (BTC) approaching the $67,000 mark. This surge allayed concerns about a deeper correction that had been lingering in the market.

週一，加密貨幣市場大幅上漲，比特幣 (BTC) 逼近 67,000 美元大關。此次飆升緩解了市場對更深層調整的擔憂。

Bitcoin, which recently underwent its quadrennial halving event, a process that reduces the issuance of new supply by half, witnessed a notable increase of over 3% over the past 24 hours. At the time of writing, it was trading around $66,500. Ether (ETH), the second-largest cryptocurrency, remained relatively stable near $3,200, although its growth of 1.5% during the same period was less impressive.

比特幣最近經歷了四年一度的減半事件，這一過程將新供應量減少一半，但在過去 24 小時內顯著增加了 3% 以上。截至撰寫本文時，其交易價格約為 66,500 美元。第二大加密貨幣以太幣 (ETH) 在 3,200 美元附近保持相對穩定，儘管同期 1.5% 的成長不太令人印象深刻。

The upward momentum was widespread, with the majority of cryptocurrencies listed on the CoinDesk Market Index (CMI) posting positive daily returns. Out of the 173 cryptocurrencies included in the index, 163 experienced gains. The broader CoinDesk 20 Index (CDI) surged by over 3% during the day, primarily driven by Near Protocol's native token (NEAR), which exhibited a remarkable 15% increase.

上升勢頭很普遍，CoinDesk 市場指數（CMI）上列出的大多數加密貨幣都實現了正日回報。在該指數包含的 173 種加密貨幣中，有 163 種出現了上漲。更廣泛的 CoinDesk 20 指數 (CDI) 當天飆升了 3% 以上，主要是受到近協議原生代幣 (NEAR) 的推動，該代幣表現出 15% 的驚人漲幅。

This positive sentiment extended to publicly listed miners such as Riot Platforms (RIOT), which jumped by 15%, and Hut 8 (HUT), which surged by 20%. Marathon Digital (MARA) also saw an increase of 6% amidst a frenzy of trading that led to a spike in fees. As transaction fees have become an increasingly significant revenue source for miners, this development has raised expectations for improved financial performance among these companies.

這種正面情緒延伸到了上市礦商，例如 Riot Platforms (RIOT) 上漲了 15%，Hut 8 (HUT) 上漲了 20%。 Marathon Digital (MARA) 在交易狂潮導致費用飆升的情況下也上漲了 6%。由於交易費用已成為礦商日益重要的收入來源，這項發展提高了人們對這些公司財務表現改善的預期。

Despite concerns raised by Markus Thielen, founder of 10x Research, about potential market weakness following the halving, the historical performance of Bitcoin suggests a different trajectory. QCP Capital, a crypto hedge fund, highlighted that in the past three halving events, Bitcoin's price has exhibited an exponential rise approximately 50-100 days after the event. If this pattern holds true, Bitcoin bulls have a few weeks to capitalize on the current market momentum and build long positions.

儘管 10x Research 創始人馬庫斯·蒂倫 (Markus Thielen) 對減半後潛在的市場疲軟表示擔憂，但比特幣的歷史表現表明了不同的軌跡。加密貨幣對沖基金 QCP Capital 強調，在過去三次減半的事件中，比特幣的價格在事件發生後約 50-100 天呈現指數級上漲。如果這種模式成立，比特幣多頭將有幾週的時間利用當前的市場動能並建立多頭部位。

Funding rates, which represent the cost leveraged derivative traders incur to maintain open positions, have also witnessed a shift. After reaching elevated levels, they have cooled off for some larger cryptocurrencies and even turned deeply negative for some smaller ones. This negative territory, according to QCP Capital, creates an environment ripe for a swift upward move should risk appetite return.

資金費率代表槓桿衍生性商品交易者維持未平倉部位所需的成本，也發生了變化。在達到較高水平後，他們對一些較大的加密貨幣已經降溫，甚至對一些較小的加密貨幣變得非常負面。 QCP Capital 表示，這一負面區域為風險偏好回歸時迅速上漲創造了成熟的環境。

QCP Capital anticipates the possibility of a "short squeeze," a rapid price increase triggered by the forced closing of short positions, particularly among altcoins and memecoins that have experienced sustained negative funding. This shift in sentiment could lead to short covering and a resumption of leveraged long positions.

QCP Capital 預計可能會出現“軋空”，即空頭頭寸被迫平倉引發的價格快速上漲，特別是在經歷了持續負融資的山寨幣和模因幣中。這種情緒的轉變可能會導致空頭回補和槓桿多頭部位的恢復。

In conclusion, cryptocurrency markets have displayed a robust recovery, with Bitcoin nearing its previous all-time high. While some analysts had expressed concerns about a post-halving correction, the historical trend suggests a bullish outlook in the medium term. Funding rates, while initially hot, have cooled, signaling potential for further upward movement if risk appetite returns.

總之，加密貨幣市場表現出強勁復甦，比特幣接近先前的歷史高點。儘管一些分析師對減半後的修正表示擔憂，但歷史趨勢顯示中期前景看漲。融資利率雖然最初很熱，但現已降溫，這表明如果風險偏好回升，融資利率可能會進一步上升。