ETF激增推动比特币重拾市场霸主地位

在对持有该资产的美国 ETF 的强劲需求以及较小代币面临的挑战的推动下，比特币在加密货币市场的主导地位已达到三年来的新高。截至 3 月中旬，在主要发行人成功推出美国现货 ETF 的支持下，比特币占 2.4 万亿美元加密货币市场的近 55%。

Bitcoin Reignites Dominance in Crypto Market, Driven by Robust ETF Demand

在强劲的 ETF 需求推动下，比特币重新占据加密货币市场的主导地位

Amidst the volatility that has characterized the cryptocurrency landscape in recent months, Bitcoin has emerged as an indomitable force, reasserting its dominance with a three-year high. As of last week, the largest digital asset commanded nearly 55% of the $2.4 trillion crypto market, according to CoinMarketCap data, a level not witnessed since April 2021.

在近几个月加密货币格局的波动中，比特币已成为一股不屈不挠的力量，以三年高位重新确立了其主导地位。根据 CoinMarketCap 数据，截至上周，这一最大的数字资产占据了 2.4 万亿美元加密货币市场的近 55%，这是自 2021 年 4 月以来的最高水平。

This resurgence of Bitcoin's dominance can be attributed to several factors, primarily the robust demand for US exchange-traded funds (ETFs) that hold the top cryptocurrency. The launch of three-month-old US spot ETFs by issuers like BlackRock Inc. and Fidelity Investments has been met with overwhelming success, amassing approximately $56 billion in assets to date. This influx of institutional funds has fueled Bitcoin's ascent, propelling it to a record high of $73,798 in mid-March.

比特币主导地位的复苏可归因于几个因素，主要是对持有顶级加密货币的美国交易所交易基金（ETF）的强劲需求。贝莱德 (BlackRock Inc.) 和富达投资 (Fidelity Investments) 等发行人推出的三个月期美国现货 ETF 取得了巨大成功，迄今为止已积累了约 560 亿美元的资产。机构资金的涌入推动了比特币的上涨，使其在 3 月中旬达到 73,798 美元的历史新高。

While Bitcoin has modestly retreated by around 6% since its peak, smaller digital assets have faced a significant downturn, plummeting by over 30%. This decline aligns with the diminished expectations for accommodative US monetary policy, which has historically served as a catalyst for speculative gains in the crypto market.

尽管比特币自峰值以来已小幅回落约 6%，但规模较小的数字资产却面临着严重下滑，暴跌超过 30%。这种下降与人们对美国宽松货币政策的预期减弱相一致，而美国宽松货币政策历来一直是加密货币市场投机收益的催化剂。

"The allocation to US ETFs by institutional investors has significantly bolstered Bitcoin's performance compared to the rest of the market," remarked Benjamin Celermajer, director at digital-asset investment manager Magnet Capital.

数字资产投资管理公司 Magnet Capital 总监 Benjamin Celermajer 表示：“与市场其他产品相比，机构投资者对美国 ETF 的配置极大地提振了比特币的表现。”

In a positive sign for the broader crypto market, Bitcoin and Ether, the second-largest cryptocurrency, experienced a surge on Monday. This uptick was driven by the news that asset managers are preparing to launch Hong Kong-listed ETFs for both tokens. Bitcoin rose by 4.3% to $66,575, while Ether gained 6.2% to reach $3,260. These rallies extended to other altcoins, including Polygon, Cardano, and the ever-popular Dogecoin.

对于更广泛的加密市场来说，这是一个积极的迹象，比特币和第二大加密货币以太币周一经历了飙升。这一上涨是由资产管理公司准备推出这两种代币在香港上市的 ETF 的消息推动的。比特币上涨 4.3% 至 66,575 美元，以太币上涨 6.2% 至 3,260 美元。这些反弹延伸到了其他山寨币，包括 Polygon、Cardano 和广受欢迎的狗狗币。

Since the beginning of last year, the Bloomberg Galaxy Crypto Index has skyrocketed by more than triple, recovering from the depths of a bear market in 2022. Crypto enthusiasts eagerly await the upcoming Bitcoin halving, an event that occurs every four years and reduces the supply of new tokens by half. Previous halvings have historically served as catalysts for price increases, although skepticism lingers regarding whether a similar outcome is probable given Bitcoin's recent surge.

自去年初以来，彭博银河加密货币指数已飙升逾三倍，从 2022 年的熊市深渊中恢复过来。加密货币爱好者热切等待即将到来的比特币减半，这一事件每四年发生一次，导致供应量减少新代币数量减半。从历史上看，之前的减半一直是价格上涨的催化剂，尽管鉴于比特币最近的飙升，人们对是否可能出现类似的结果仍持怀疑态度。

Despite these uncertainties, Bitcoin's dominance in the crypto market remains unyielding. Backed by robust institutional demand and the anticipation surrounding the halving event, Bitcoin stands poised to continue its reign as the undisputed king of cryptocurrency.

尽管存在这些不确定性，比特币在加密市场的主导地位仍然坚不可摧。在强劲的机构需求和对减半事件的预期的支持下，比特币有望继续其作为无可争议的加密货币之王的统治地位。