本週最熱門的話題

Gifto ($GFT) 上週經歷了大幅價格波動，其價值從0.07 美元飆升至0.21 美元，飆升三倍，但在12 月2 日退市截止日期後暴跌99%。交易活動大幅增加。

Top Interest of the Week

本週最熱門的話題

Gifto ($GFT) experienced significant price fluctuations last week, with its value soaring threefold from $0.07 to $0.21, only to plummet by 99% following the delisting deadline on December 2. This volatility led to a substantial increase in trading activity for the token on Convert, resulting in a trading volume that was 25 times higher than usual.

Gifto ($GFT) 上週經歷了大幅價格波動，其價值從0.07 美元飆升至0.21 美元，飆升三倍，但在12 月2 日退市截止日期後暴跌99%。交易活動大幅增加。

IOTA ($IOTA), a prominent player in the DePin sector, saw its price double last week, coinciding with a governance vote to upgrade the IOTA L1 Mainnet to the Rebased protocol. By supporting this proposal, token holders are facilitating the transition, which is already active on the IOTA Rebased Testnet. The upgrade promises major enhancements, including move-based smart contracts, a delegated proof-of-stake consensus, and the Mysticeti protocol for scalability, enabling over 50,000 transactions per second with sub-second finality. Additional improvements include lower transaction fees, adaptive fee burn, sponsored transactions, staking rewards, and a target annual inflation rate of 6-7%. This excitement among investors contributed to the price surge.

DePin 領域的知名參與者 IOTA ($IOTA) 上週其價格翻了一番，恰逢治理投票將 IOTA L1 主網升級為 Rebased 協議。透過支持這項提案，代幣持有者正在促進過渡，該過渡已經在 IOTA Rebased 測試網路上活躍起來。此次升級承諾進行重大增強，包括基於移動的智能合約、委託權益證明共識以及用於可擴展性的 Mysticeti 協議，從而實現每秒超過 50,000 筆交易，並具有亞秒級的最終確定性。其他改進包括降低交易費用、自適應費用消耗、贊助交易、質押獎勵以及 6-7% 的目標年通膨率。投資者的興奮情緒導致了價格飆升。

Ripple ($XRP) saw its value quadruple following Donald Trump's victory in the US presidential election. This surge was largely fueled by optimism regarding the potential easing of cryptocurrency regulations over the next four years. With Trump appointing crypto advocate Paul Atkins as the new chair of the Securities and Exchange Commission, and the current SEC chair Gary Gensler set to step down on January 20, 2025, investors are hopeful that the SEC will soon dismiss the lawsuit against Ripple after Atkins assumes office. Furthermore, Ripple announced the launch of a US-dollar stablecoin on its network, which is expected to stimulate increased on-chain activity. Amidst this bullish sentiment, XRP's market capitalization briefly surpassed that of Solana and USDT, positioning it as the third-largest cryptocurrency by market cap.

唐納德·川普在美國總統大選中獲勝後，瑞波幣（XRP）的價值翻了兩番。這種激增很大程度上是由於對未來四年可能放鬆加密貨幣監管的樂觀情緒所推動的。隨著川普任命加密貨幣倡導者保羅·阿特金斯(Paul Atkins) 擔任美國證券交易委員會新任主席，以及現任SEC 主席加里·詹斯勒(Gary Gensler) 將於2025 年1 月20 日辭職，投資者希望SEC 在阿特金斯之後很快就駁回針對Ripple 的訴訟就職。此外，Ripple 宣佈在其網路上推出美元穩定幣，預計這將刺激鏈上活動的增加。在這種看漲情緒中，XRP 的市值短暫超過了 Solana 和 USDT，成為按市值計算的第三大加密貨幣。

Overall Market

整體市場

The above chart is the BTC daily K-line chart.

上圖為BTC日K線圖。

Bitcoin ($BTC) has successfully crossed the significant $100,000 mark during the Asian trading session, marking a historic milestone in the cryptocurrency realm. When Bitcoin was first introduced, few could have envisioned reaching this price level. Now that this landmark has been achieved, it is set for further expansion, attracting more capital and expertise within the Web3 space.

比特幣（$BTC）在亞洲交易時段成功突破 10 萬美元大關，標誌著加密貨幣領域的歷史性里程碑。當比特幣首次推出時，很少人能想到會達到這個價格水準。既然已經實現了這一里程碑，它將進一步擴張，在 Web3 領域吸引更多的資本和專業知識。

The rise above the $100,000 threshold was bolstered by significant capital inflows into the ETF market following November 5, along with MicroStrategy's continued Bitcoin accumulation, increasing demand for Bitcoin on the market. Furthermore, many publicly traded companies are now adding Bitcoin to their balance sheets, indicating a trend of mainstream adoption that is likely to create positive momentum for the cryptocurrency sector and encourage further developments.

11 月 5 日後大量資金流入 ETF 市場，加上 MicroStrategy 持續累積比特幣，市場對比特幣的需求不斷增加，推動了比特幣價格突破 10 萬美元門檻。此外，許多上市公司現在正在將比特幣添加到其資產負債表中，這表明主流採用的趨勢可能會為加密貨幣行業創造積極動力並鼓勵進一步發展。

Federal Reserve Chair Jerome Powell hinted at the possibility of another interest rate cut during the December meeting at the DealBook Summit today. He also shared his views on Bitcoin, gold, and the US dollar, noting that Bitcoin's main competitor is gold rather than the US dollar. This statement marks a notable shift in how Bitcoin is viewed as an asset class within traditional finance. As Bitcoin gains recognition as a reliable store of value similar to gold, we expect a rapid increase in its market capitalization and a significant reduction in price volatility over the next decade.

聯準會主席鮑威爾今天在 DealBook 峰會 12 月會議上暗示可能再次降息。他也分享了他對比特幣、黃金和美元的看法，指出比特幣的主要競爭對手是黃金而不是美元。這項聲明標誌著傳統金融中比特幣被視為資產類別的顯著轉變。隨著比特幣被認可為類似於黃金的可靠價值儲存手段，我們預計未來十年其市值將快速增長，價格波動將大幅減少。

However, we advise traders to exercise caution, as the market currently shows signs of greed, with a fear-and-greed index reading of 78. A pullback may be anticipated as the market continues to rise. Effective risk management is crucial for traders navigating this environment, and it is important to consistently evaluate one's risk tolerance in this market.Options Market

不過，我們建議交易者謹慎行事，因為市場目前顯示出貪婪的跡象，恐懼與貪婪指數為78。有效的風險管理對於交易者在這種環境中航行至關重要，並且持續評估自己在這個市場中的風險承受能力也很重要。

The above is the 25-delta skew table for BTC and ETH options.

以上是BTC和ETH選擇權的25-delta偏斜表。

Following Bitcoin's price surpassing the $100,000 mark, the short-term sentiment indicates strong bullish momentum, as evidenced by the 25-delta risk reversal reflecting an 8.27 premium on call options compared to put options. This risk reversal premium remains above 5 for longer-dated options, indicating that the market maintains a positive outlook on Bitcoin's price over the coming months.

在比特幣價格突破 10 萬美元大關後，短期情緒顯示出強勁的看漲勢頭，25 三角風險反轉就證明了這一點，反映出看漲期權與看跌期權相比有 8.27 的溢價。對於較長期選擇權，此風險逆轉溢價仍高於 5，顯示市場對未來幾個月比特幣價格保持樂觀前景。

In contrast, Ethereum is also displaying bullish indicators in the 180-day expiry options, with a 7.08 premium on calls over puts. The 25-delta risk reversal premiums for shorter-dated options are above 4, suggesting that options traders are increasingly optimistic about Ethereum's performance in the long term.

相較之下，以太坊的 180 天到期期權也顯示出看漲指標，看漲期權比看跌期權溢價 7.08。短期選擇權的 25 delta 風險逆轉溢價高於 4，顯示選擇權交易者對以太坊的長期表現越來越樂觀。

This trend in the options market aligns with our analysis that Bitcoin is likely to spearhead the upward movement, followed by Ethereum as capital rotation from Bitcoin to Ethereum and other altcoins. The data indicates that the market is projecting a six-month phase where Bitcoin will lead the price increase before funds are redirected into altcoins, led by Ethereum.

選擇權市場的趨勢與我們的分析一致，即比特幣可能會帶頭上漲，隨後以太坊作為資本從比特幣轉向以太坊和其他山寨幣的貨幣。數據表明，市場預計在六個月的階段中，比特幣將引領價格上漲，然後資金將轉向以以太坊為首的山寨幣。

It is important to note that the 25-

值得注意的是，25-