比特币（BTC）小幅反弹，但与山寨币的相关性仍然是市场焦点

比特币[BTC]在经历了本周早些时候的大幅下跌后，在短短两天内下跌了10%以上，但在过去24小时内出现了小幅反弹。

Bitcoin [BTC] began the week on a concerning note, dropping sharply by over 10% in just two days. However, the past 24 hours have seen a slight recovery in BTC’s price. During this period, Bitcoin’s price has increased by 0.5%, approaching the $60,000 mark.

比特币 [BTC] 本周一开始就令人担忧，在短短两天内大幅下跌了 10% 以上。然而，过去24小时BTC价格略有回升。在此期间，比特币价格上涨了0.5%，逼近6万美元大关。

Despite this minor recovery, the asset remains down by 2.3% over the past week, reflecting a market still in flux. This price movement has sparked discussions among analysts, with particular focus on the correlation between Bitcoin and various altcoins.

尽管出现小幅复苏，但该资产在过去一周仍下跌 2.3%，反映出市场仍在不断变化。这种价格走势引发了分析师之间的讨论，特别关注比特币和各种山寨币之间的相关性。

As Bitcoin continues to navigate a fluctuating price performance, a recent report by CryptoQuant analyst Joao Wedson highlights the strong correlation between Bitcoin and altcoins.

随着比特币价格继续波动，CryptoQuant 分析师 Joao Wedson 最近的一份报告强调了比特币和山寨币之间的紧密相关性。

According to Wedson, the current positive correlation suggests that altcoins are closely following Bitcoin’s price movements, indicating an alignment in the broader crypto market.

根据韦德森的说法，当前的正相关性表明山寨币正在密切关注比特币的价格走势，这表明更广泛的加密货币市场的一致性。

This behavior reflects investor confidence, as the synchronized movement suggests a level of stability in the market. However, the report warns that a shift to a negative correlation could serve as a red flag for Bitcoin and the market at large.

这种行为反映了投资者的信心，因为同步走势表明市场处于一定程度的稳定。然而，该报告警告称，负相关性的转变可能会给比特币和整个市场带来危险信号。

Historically, a negative correlation occurs when altcoins significantly out-perform Bitcoin, often leading to a subsequent drop in BTC’s price.

从历史上看，当山寨币的表现明显优于比特币时，就会出现负相关性，通常会导致比特币价格随后下跌。

This pattern was evident in January, June, and July of 2024, where altcoins outpaced Bitcoin, only for the market to experience a significant downturn shortly afterward.

这种模式在 2024 年 1 月、6 月和 7 月很明显，山寨币的表现超过了比特币，但不久之后市场就经历了严重的低迷。

Currently, altcoins such as Bancor (BNT), Axie Infinity (AXS), Chainlink (LINK), Algorand (ALGO), and Cardano (ADA) exhibit the highest correlation with Bitcoin, meaning their prices are moving in tandem with BTC.

目前，Bancor (BNT)、Axie Infinity (AXS)、Chainlink (LINK)、Algorand (ALGO) 和 Cardano (ADA) 等山寨币与比特币的相关性最高，这意味着它们的价格与比特币同步波动。

In contrast, altcoins like Dash (DASH), Curve (CRV), dYdX (DYDX), Binance Coin (BNB), and MyNeighborAlice (ALICE) show lower correlation levels, indicating a more independent price movement.

相比之下，Dash (DASH)、Curve (CRV)、dYdX (DYDX)、Binance Coin (BNB) 和 MyNeighborAlice (ALICE) 等山寨币的相关性水平较低，表明价格走势更加独立。

Despite these variations, the overall positive correlation across altcoins suggests a market moving in unison with Bitcoin, signaling potential short-term stability. However, continuous monitoring is essential to detect any deviations that might signal increased risk.

尽管存在这些差异，但山寨币之间的总体正相关性表明市场与比特币一致变化，预示着潜在的短期稳定性。然而，持续监控对于检测任何可能预示风险增加的偏差至关重要。

Cardano [ADA] has followed a trajectory largely mirroring Bitcoin’s price movements this week. Earlier in the week, ADA’s price dropped significantly, reaching a low of $0.34. Howeverгореючий, in the past 24 hours, ADA has shown signs of recovery, with its price rising by 2.8%. This recovery aligns with the broader market’s trend of slight rebounds following initial sharp declines.

卡尔达诺 [ADA] 的走势很大程度上反映了本周比特币的价格走势。本周早些时候，ADA 的价格大幅下跌，跌至 0.34 美元的低点。不过，过去24小时内，ADA出现复苏迹象，价格上涨2.8%。这种复苏与大盘在最初大幅下跌后小幅反弹的趋势一致。

While ADA’s price dropped, its fundamentals indicate growing interest from large investors. Data from IntoTheBlock reveals a surge in large transactions—those greater than $100k—reaching nearly 4,000 as of today, a sharp increase from below 3k transactions recorded last week.

虽然 ADA 的价格下跌，但其基本面表明大型投资者的兴趣日益浓厚。 IntoTheBlock 的数据显示，截至今天，大额交易（超过 10 万美元的交易）激增，达到近 4,000 笔，较上周记录的不足 3,000 笔交易大幅增加。

This suggests that larger investors are taking advantage of the lower prices to accumulate ADA. In contrast, data from Santiment shows a decline in ADA’s number of active addresses over the past month, dropping to below 500k—a significant decrease from nearly 1 million addresses in March.

这表明较大的投资者正在利用较低的价格来积累 ADA。相比之下，Santiment 的数据显示，过去一个月 ADA 的活跃地址数量有所下降，降至 50 万以下，较 3 月份的近 100 万个地址大幅减少。

This decline in active addresses could reflect reduced retail investor activity, even as whales continue to engage with the asset.

活跃地址的下降可能反映出散户投资者活动的减少，尽管鲸鱼继续参与该资产。