比特币第一季度表现强劲：价格飙升、市场主导地位和创新点燃加密货币热潮

根据 Messari 的一份报告，比特币 (BTC) 在 2024 年第一季度 (Q1) 表现出色，创下历史新高 (ATH)，巩固了其市值主导地位。比特币增长的关键因素包括对供应量减半的预期、现货 BTC ETF 的成功以及机构资金流入的增加，这些都有助于其在加密货币生态系统中的认可和主导地位。

Bitcoin's Stellar Q1 Performance: A Surge in Price, Dominance, and Innovation

比特币第一季度的出色表现：价格、主导地位和创新的飙升

The cryptocurrency landscape has witnessed a remarkable surge in the first quarter of 2024, with Bitcoin (BTC) taking center stage. A comprehensive report by Messari, a leading market intelligence firm, reveals the key factors fueling Bitcoin's impressive performance, its dominance in the cryptocurrency ecosystem, and the emergence of transformative trends shaping the future of digital assets.

2024 年第一季度，加密货币格局出现显着飙升，其中比特币 (BTC) 占据了中心舞台。领先的市场情报公司 Messari 的一份综合报告揭示了推动比特币令人印象深刻的表现、其在加密货币生态系统中的主导地位以及塑造数字资产未来的变革趋势的出现的关键因素。

Price Surge and Market Cap Dominance

价格飙升和市值主导

Bitcoin's price trajectory in Q1 2024 has been nothing short of extraordinary. It has experienced a remarkable 68.78% growth quarter-over-quarter (QoQ), reaching an all-time high (ATH) of $73,100. This surge has propelled Bitcoin's market cap dominance to an impressive 49.7% in March 2024. Messari's report highlights that such dominance is a hallmark of the start of a new halving cycle, where Bitcoin typically leads the charge for the wider cryptocurrency market.

2024 年第一季度比特币的价格轨迹非同寻常。它经历了 68.78% 的季度环比 (QoQ) 惊人增长，达到 73,100 美元的历史新高 (ATH)。这种飙升使比特币的市值主导地位在 2024 年 3 月达到令人印象深刻的 49.7%。Messari 的报告强调，这种主导地位是新减半周期开始的标志，在这个周期中，比特币通常会引领更广泛的加密货币市场。

Inscription Activity: Driving Fees and Transaction Dynamics

铭文活动：驱动费用和交易动态

A notable aspect of Bitcoin's Q1 performance lies in the significant inscription activity witnessed in Q4 2023. This activity had a pronounced impact on transaction fees, which surged by 699.4% QoQ. However, Q1 2024 saw a 41.9% decline in subscription-related fees. Despite this decrease in total fees, inscription-related transactions continue to account for a substantial 18.4% of Bitcoin's total fees, underscoring their enduring relevance.

比特币第一季度表现的一个值得注意的方面在于 2023 年第四季度出现的大量记号活动。这一活动对交易费用产生了显着影响，交易费用环比飙升 699.4%。然而，2024 年第一季度订阅相关费用下降了 41.9%。尽管总费用有所下降，但与铭文相关的交易仍然占比特币总费用的 18.4%，凸显了其持久的相关性。

The report further reveals a decline in average daily transactions and daily active addresses by 15.3% and 4.7% QoQ, respectively. This observation suggests a potential decrease in activity from bots or "super users." The report correlates this shift with the decline in inscription-related activities and fees.

该报告进一步显示，平均每日交易量和每日活跃地址环比分别下降了 15.3% 和 4.7%。这一观察结果表明机器人或“超级用户”的活动可能会减少。该报告将这种转变与登记相关活动和费用的下降联系起来。

ETF Inflows: A Watershed Moment for Bitcoin's Legitimization

ETF 流入：比特币合法化的分水岭

One of the most significant developments in Q1 2024 has been the remarkable growth of programmable layers in the cryptocurrency ecosystem. Established layers such as Rootstock and Stacks have demonstrated leadership in total value locked (TVL), while newer layers like BOB and Merlin have experienced rapid growth.

2024 年第一季度最重要的发展之一是加密货币生态系统中可编程层的显着增长。 Rootstock 和 Stacks 等成熟层已在总价值锁定 (TVL) 方面展现出领先地位，而 BOB 和 Merlin 等较新层则经历了快速增长。

TVL's 127% QoQ growth has been primarily driven by non-BTC assets, as Bitcoin-locked amounts have lagged behind the Lightning Network and alt-L1 networks that host significant amounts of BTC.

TVL 环比增长 127% 主要是由非 BTC 资产推动的，因为比特币锁定金额落后于托管大量 BTC 的闪电网络和 alt-L1 网络。

Furthermore, the approval and launch of nine spot ETFs and one ETF conversion in Q1 2024 have marked a watershed moment for Bitcoin's legitimization by the US government and traditional finance institutions. These ETFs have attracted over $12 billion in inflows within their first month of operation. Notably, BTC ETFs have surpassed silver ETFs in assets under management (AUM) but continue to trail behind gold ETFs.

此外，2024年第一季度批准并推出9只现货ETF和1只ETF转换，标志着美国政府和传统金融机构比特币合法化的分水岭。这些 ETF 在运营第一个月就吸引了超过 120 亿美元的资金流入。值得注意的是，BTC ETF 的管理资产 (AUM) 已超过白银 ETF，但仍落后于黄金 ETF。

Institutional Adoption: MicroStrategy's Record Holdings

机构采用：MicroStrategy 的唱片控股

Institutional adoption of Bitcoin has reached new heights, with MicroStrategy, the largest institutional BTC holder, surpassing its previous holdings with an impressive 215,000 BTC. ETFs also accumulated a substantial 212,000 BTC in inflows during Q1, further solidifying Bitcoin's prominence in the financial markets.

机构对比特币的采用达到了新的高度，最大的机构 BTC 持有者 MicroStrategy 的持有量达到了令人印象深刻的 215,000 BTC，超过了之前的持有量。第一季度 ETF 还积累了 212,000 比特币的大量流入，进一步巩固了比特币在金融市场的主导地位。

Outlook and Conclusion

展望与结论

Bitcoin's exceptional performance in Q1 2024, characterized by significant price appreciation and market cap dominance, has solidified its position as the leading cryptocurrency. The anticipation for the supply halving, coupled with the success of BTC ETFs and institutional inflows, has contributed to Bitcoin's growth and recognition in mainstream finance.

比特币在 2024 年第一季度的出色表现，以价格大幅上涨和市值主导为特征，巩固了其作为领先加密货币的地位。对供应量减半的预期，加上 BTC ETF 的成功和机构资金流入，促进了比特币的增长和主流金融的认可。

As we progress into the future, the cryptocurrency landscape is likely to witness further evolution and innovation. Bitcoin, with its proven track record and robust network effects, is well-positioned to continue leading the digital asset revolution.

随着我们走向未来，加密货币领域可能会见证进一步的演变和创新。比特币凭借其良好的记录和强大的网络效应，处于有利地位，可以继续引领数字资产革命。