降低的熱情會在2月27日之後推動加密全面的交易量下降

自2月27日以來，市場情報平台將加密貨幣範圍的交易量下降歸因於“疲憊，絕望和屈服”的結合。

Crypto-market intelligence platform Santiment has attributed the drop in crypto-wide trading volume since February 27 to “exhaustion, hopelessness, and capitulation.” According to the firm, this may be an "early warning sign of weakening market momentum."

加密市場情報平台Santiment歸因於2月27日以來加密貨幣範圍的交易量的下降歸因於“疲憊，絕望和投降”。該公司認為，這可能是“削弱市場勢頭的預警信號”。

As of Monday, March 11, the total market capitalization was around $2.65 trillion, with a trading volume of nearly $164 billion, as per CoinGecko. Some 24 hours later, the market recovered, adding over $100 billion, but the trading volume remained flat. At press time (March 13, 1:30 p.m. EST), the market capitalization was a little less than $2.8 trillion, while the trading volume was $122.6 billion. This, according to Santiment, might mean that "fewer traders are convinced that buying at current levels will yield profitable outcomes."

截至3月11日星期一，總計市值約為2.6.5萬億美元，售價近1640億美元，按照Coingecko為單位。大約24小時後，市場恢復了，增加了超過1000億美元，但交易量保持平坦。發稿時（美國東部時間3月13日下午1:30），市值不到2.8萬億美元，而交易量為1226億美元。根據Santiment的說法，這可能意味著“更少的交易者確信當前水平的購買將產生有利可圖的成果”。

After hitting a new all-time high of over $109,000 on January 8, bitcoin (BTC) has largely trended downward. The market also went through a sustained rally following Donald Trump’s confirmation as the winner of the U.S. presidential election in November 2020, which might have also exhausted traders.

1月8日，比特幣（BTC）達到了新的歷史最高高點109,000美元之後，在很大程度上向下趨勢。唐納德·特朗普（Donald Trump）在2020年11月成為美國總統大選的冠軍之後，市場也經歷了持續的集會，這可能還耗盡了商人。

Some have attributed the decline to ongoing trade war fears. However, according to Santiment, a consistent decrease in the trading volume of major cryptocurrencies, even during slight price recoveries, may be an early warning sign of diminishing trader enthusiasm.

有些人將下降歸因於持續的貿易戰爭恐懼。但是，根據Santiment的說法，即使在輕微的價格回收期間，主要加密貨幣的交易量也持續下降，這可能是交易者熱情減少的預警信號。

“Shrinking volume during minor rebounds isn’t necessarily a direct bearish signal, but volume is a metric that measures participation from both retail and institutional traders. If both groups are waiting for the other to boost market caps in order to make their next moves, it can lead to price stagnancy with little movement (and a slight tendency to veer toward the downside). A simultaneous increase in both price and trading volume is usually an ideal scenario for a strong and sustainable recovery,” the firm explained on X.

“在小籃板中縮小數量不一定是一個直接的看跌信號，而是量量的指標，可以衡量零售和機構交易者的參與。如果兩個小組都在等待另一個群體來提高市值以做出下一步的舉動，那麼它可能會導致價格停滯，而幾乎沒有動作（並且傾向於轉向下跌的趨勢）。該公司在X上解釋說：“同時價格和交易量的同時提高通常是理想的情況。”

Generally, a substantial increase in trading volume accompanies a change in price trends. However, in the absence of such an increase, despite the minor price movements, a cautious market outlook is likely to persist.

通常，交易量的大幅增加伴隨著價格趨勢的變化。但是，在沒有這樣的增加的情況下，儘管價格較小，但謹慎的市場前景可能會持續存在。