比特币的主导地位下滑暗示风险承受能力减弱以及对股市调整的担忧

衡量比特币和以太币之间价格关系的指标表明投资者的风险偏好可能下降。该比率上次达到高点是在 2021 年 4 月，这表明与规模较小的竞争对手相比，对比特币的需求有所增加。加密资产交易商 QCP Capital 表示，这种模式可能标志着从对错过的恐惧转变为恐惧。

Bitcoin's Dominance Signals Waning Risk Appetite and Fears of a Stock Market Correction

比特币的主导地位表明风险偏好减弱以及对股市调整的担忧

The widening price gap between Bitcoin and Ether, the respective leaders of the digital asset market, has ignited concerns that investors' risk tolerance is diminishing. The ratio between the two cryptocurrencies reached 20 this week, a level not seen since April 2021, indicating a heightened demand for Bitcoin over its smaller rival.

数字资产市场的领先者比特币和以太币之间不断扩大的价差引发了人们对投资者风险承受能力正在下降的担忧。这两种加密货币之间的比率本周达到 20，这是自 2021 年 4 月以来的最高水平，这表明对比特币的需求高于其规模较小的竞争对手。

According to QCP Capital's Friday report, this trend could be "a very early signal" of investors transitioning from their fear of missing out (FOMO) to a sentiment of fear. The report highlights the waning interest in cryptocurrency exchange-traded funds (ETFs) that had fueled Bitcoin's record high in mid-March. The subsequent cooling of ETF demand has led to a 9% decline in Bitcoin's value, while smaller digital assets have plummeted by approximately 20%.

根据 QCP Capital 周五的报告，这一趋势可能是投资者从害怕错过机会 (FOMO) 转变为恐惧情绪的“一个非常早期的信号”。该报告强调了人们对加密货币交易所交易基金（ETF）兴趣的减弱，正是这种兴趣推动了比特币在 3 月中旬创下历史新高。随后 ETF 需求降温导致比特币价值下跌 9%，而规模较小的数字资产则暴跌约 20%。

Beyond the cryptocurrency sector, strategists at Stifel Nicolaus & Co. have expressed concerns that a potential peak in Bitcoin's price due to declining investor interest could signal a broader weakness in the stock market.

除了加密货币领域之外，Stifel Nicolaus & Co. 的策略师也表示担心，由于投资者兴趣下降，比特币价格可能触顶，这可能预示着股市更广泛的疲软。

Amidst this backdrop, cryptocurrency traders eagerly await the upcoming Bitcoin halving, a periodic event that drastically reduces the issuance of new tokens. However, skepticism persists regarding whether the halving will live up to expectations as a bullish catalyst for Bitcoin's price.

在此背景下，加密货币交易者热切等待即将到来的比特币减半，这是一个周期性事件，会大大减少新代币的发行。然而，人们仍然怀疑减半是否会达到预期，成为比特币价格的看涨催化剂。

As of 8:10 AM London time on Friday, Bitcoin had depreciated by 1.5% to $66,940, while Ether had experienced a similar decline to $3,278. The broader cryptocurrency market has also witnessed widespread losses, with most notable tokens recording declines.

截至伦敦时间周五上午 8:10，比特币已贬值 1.5% 至 66,940 美元，而以太币也经历了类似的跌幅，至 3,278 美元。更广泛的加密货币市场也出现了广泛的损失，大多数值得注意的代币都出现了下跌。

The waning dominance of Bitcoin and the mounting fears of a stock market correction raise questions about the sustainability of the cryptocurrency bull run. Investors should exercise caution and consider diversifying their portfolios amid the increasing market volatility.

比特币主导地位的减弱和对股市调整的担忧日益加剧，引发了人们对加密货币牛市可持续性的质疑。在市场波动加剧的情况下，投资者应谨慎行事并考虑分散投资组合。