比特币和数字资产有望在 2024 年迎来标志性的一年

今年对于将数字资产确立为华尔街投资者的可行资产来说是重要的一年。

Top 10 Crypto Moments of 2024: From BTC’s Road to $100,000 to MicroStrategy’s Massive Buying Spree

2024 年加密货币十大时刻：从 BTC 的 10 万美元之路到 MicroStrategy 的大规模购买热潮

By CCN.com December 29, 2024

作者：CCN.com 2024 年 12 月 29 日

2024 has been a banner year for Bitcoin, cryptocurrencies, and digital assets.

2024 年对于比特币、加密货币和数字资产来说是标志性的一年。

With the launch of the spot BTC exchange-traded fund in January, the maturing market, and the smooth fourth halving, several multi-billion dollar liquidations and sell-offs couldn’t stop BTC’s success this year. The price of BTC in U.S. dollar terms is up nearly 140% year to date and has risen even more relative to other fiat currencies (some of which experienced significant depreciation in 2024).

随着1月份现货BTC交易所交易基金的推出、市场的成熟以及第四次减半的顺利进行，数次数十亿美元的清算和抛售无法阻止BTC今年的成功。以美元计算的 BTC 价格今年迄今上涨了近 140%，相对于其他法定货币（其中一些法定货币在 2024 年经历了大幅贬值）的涨幅甚至更大。

The 2024 U.S. election also holds vast implications for cryptocurrencies. Never before have Bitcoin or digital assets received so much attention on the world stage — at least not in such a positive way.

2024 年美国大选也对加密货币产生巨大影响。比特币或数字资产从未在世界舞台上受到如此多的关注——至少没有以如此积极的方式受到关注。

President Trump expressed support for progressive regulation and open dialogue with the industry over the summer. He even made an appearance at the Bitcoin Nashville conference shortly after an attempt was made on his life. Much of the cryptocurrency community rallied around Republican candidate and eventual Democratic nominee Kamala Harris to start making some positive moves around crypto.

特朗普总统表示支持在夏季进行渐进式监管并与行业进行公开对话。在有人企图杀害他后不久，他甚至出现在比特币纳什维尔会议上。许多加密货币社区都聚集在共和党候选人和最终的民主党候选人卡玛拉·哈里斯周围，开始围绕加密货币采取一些积极行动。

Ahead of the November 5 election, Bitcoin saw a “Trump trade” from market participants. A special election contract on Deribit attracted billions of dollars in volume and open interest ahead of the election, and traders betting on new all-time highs soon after the election saw a major bullish bias. They were right, and by November BTC volume had exceeded $75,000.

在 11 月 5 日大选之前，市场参与者对比特币进行了“特朗普交易”。 Deribit 上的一份特殊选举合约在选举前吸引了数十亿美元的交易量和未平仓合约，而在选举后不久押注历史新高的交易员看到了重大的看涨偏见。他们是对的，到 11 月，BTC 交易量已超过 75,000 美元。

The overall Senate vote, as well as the final vote, was widely viewed as positive for cryptocurrencies. As a result, BTC led the post-election rally for crypto assets, topping $80,000 by Nov. 11.

参议院的整体投票以及最终投票被广泛认为对加密货币有利。结果，BTC 引领了选举后加密资产的上涨，到 11 月 11 日突破了 80,000 美元。

As we showed above, the increasingly bullish sentiment continued throughout the rest of November and into December, with Bitcoin currently trading at an all-time high of over $107,000.

正如我们上面所显示的，日益看涨的情绪在 11 月剩余时间和 12 月持续，比特币目前交易价格超过 107,000 美元的历史高点。

Bitcoin Fees Surge Before the Fourth Halving

比特币费用在第四次减半前飙升

The fourth Bitcoin halving took place on April 19 this year. On Saturday, Bitcoin’s average transaction fee soared to a record high of $146. This was significantly higher than Ethereum’s average fee of $3 that day.

比特币第四次减半发生在今年 4 月 19 日。周六，比特币的平均交易费用飙升至 146 美元的历史新高。这明显高于以太坊当天 3 美元的平均费用。

The historic surge in Bitcoin network fees was perhaps its most significant development in the fourth quarter. Despite warning signs, it caught many market participants by surprise.

比特币网络费用的历史性飙升可能是第四季度最重要的发展。尽管有警告迹象，但它还是让许多市场参与者感到意外。

Ordinals founder Casey Rodamor announced plans to launch Runes, a protocol that makes it easier to issue fungible tokens on Bitcoin. However, while users may have expected a rise in transaction fees based on Ordinals’ impact on transaction fees, the historic increase still caught many by surprise.

Ordinals 创始人 Casey Rodamor 宣布计划推出 Runes，这是一种可以更轻松地在比特币上发行可替代代币的协议。然而，尽管基于序数对交易费用的影响，用户可能预计交易费用会上涨，但历史性的增长仍然让许多人感到意外。

Ordinals allow node operators to burn data and images onto newly created Bitcoin blocks. These so-called “registrations” are similar to NFTs, increasing demand for Bitcoin block space and boosting the fees earned by BTC miners.

序号允许节点运营商将数据和图像刻录到新创建的比特币区块上。这些所谓的“注册”类似于 NFT，增加了对比特币区块空间的需求，并提高了 BTC 矿工赚取的费用。

The launch of Runes proceeded in a similar manner. The launch of the protocol led to an increase in demand for block space, which in turn impacted fees.

Runes 的推出也是以类似的方式进行的。该协议的推出导致了对区块空间的需求增加，进而影响了费用。

BlackRock Surpasses Grayscale

贝莱德超越灰度

BTC ETFs have broken all kinds of records this year, with total assets under management of 11 funds rising to over $100 billion.

BTC ETF今年打破了各种记录，11只基金管理的总资产升至1000亿美元以上。

BlackRock is the big winner, showing that major institutions are interested in Bitcoin and digital assets. Its spot BTC ETF has over $55 billion in assets under management, surpassing Grayscale’s GBTC in a matter of months.

贝莱德是大赢家，表明各大机构对比特币和数字资产感兴趣。其现货 BTC ETF 管理的资产超过 550 亿美元，在几个月内就超过了 Grayscale 的 GBTC。

Launched in 2013 by digital asset manager Grayscale, GBTC is largely a crypto-first product, and its huge premium/discount to net asset value means that institutional buying is limited. As a result, it was quickly surpassed by BlackRock after the ETF was launched this year.

GBTC 由数字资产管理公司 Grayscale 于 2013 年推出，很大程度上是一种加密货币优先产品，其相对资产净值的巨大溢价/折价意味着机构购买受到限制。结果今年ETF推出后，很快就被贝莱德超越。

GBTC has been losing assets for much of this year after the firm decided to keep fees at 1.5%. In the U.S. ETF space, where firms are used to low fees, much of Wall Street prefers BlackRock and Fidelity to GBTC.

在公司决定将费用保持在 1.5% 后，GBTC 今年大部分时间都在亏损。在美国 ETF 领域，公司习惯了低费用，华尔街的大部分人更喜欢贝莱德和富达，而不是 GBTC。

ETH/BTC Ratio Drops

ETH/BTC 比率下降

The ETH/BTC ratio has continued to decline since the merger and shows no signs of slowing down in 2024. The ratio compares the performance of the two assets and falls when Ethereum underperforms Bitcoin.

自合并以来，ETH/BTC 比率持续下降，并且在 2024 年没有任何放缓的迹象。该比率比较了两种资产的表现，当以太坊表现逊于比特币时，该比率就会下降。

Other factors contributing to the decline include the rise of Solana as users migrated to cheaper networks during a period of heightened speculation in March and the fourth quarter of this year. Meme tokens (which we’ll discuss later) were behind much of the speculation and drove Solana DEX volume to surpass Ethereum at times this year.

导致下降的其他因素包括 Solana 的崛起，因为在 3 月份和今年第四季度投机活动加剧期间，用户迁移到更便宜的网络。 Meme 代币（我们将在稍后讨论）是大部分猜测的幕后黑手，并推动 Solana DEX 交易量在今年有时超过了以太坊。

It fell to 0.033 in November, its lowest level since March 2021. What’s behind the poor performance?

11月跌至0.033，为2021年3月以来的最低水平。表现不佳的背后是什么？