比特币与以太坊比率警告加密市场谨慎

比特币与以太坊的比率已达到 20.76，这是自 2021 年 4 月以来的最高水平，表明对比特币的需求超过了以太坊。这一趋势表明替代加密货币的风险偏好可能减弱，并且可能是恐惧取代 FOMO 的早期警告，尤其是对于较小的代币。机构兴趣的增长推动了比特币的主导地位，最近比特币 ETF 的激增就是例证。

Bitcoin-to-Ethereum Ratio Signals Caution in Crypto Market

比特币与以太坊比率表明加密市场需谨慎

[City, Date] - The Bitcoin-to-Ethereum ratio, a crucial indicator of market sentiment and relative strength between the two dominant cryptocurrencies, has surged to its highest level since April 2021, raising concerns about the future direction of the crypto market.

[城市，日期] - 比特币与以太坊的比率是市场情绪和两种主要加密货币之间相对强度的重要指标，已飙升至 2021 年 4 月以来的最高水平，引发了人们对加密货币市场未来方向的担忧。

The ratio, which gauges the price of Bitcoin, the world's largest digital asset, against Ethereum, its second-ranked rival, suggests a potential shift in risk appetite towards more established cryptocurrencies.

该比率衡量了全球最大数字资产比特币与其第二大竞争对手以太坊的价格，表明风险偏好可能转向更成熟的加密货币。

A rising ratio indicates that Bitcoin is outperforming Ethereum, while a declining ratio suggests the opposite. The current trend, which has seen the BTC/ETH ratio reach 20.76, implies a stronger demand for Bitcoin, the elder statesman of cryptocurrencies, than its upstart competitor.

比率上升表明比特币的表现优于以太坊，而比率下降则表明相反。目前的趋势是，BTC/ETH 比率达到 20.76，这意味着对加密货币元老比特币的需求比其新兴竞争对手更强劲。

Analysts at QCP Capital, cited by Bloomberg, interpret this trend as an early warning of fear of missing out (FOMO) transitioning into "fear" in the broader crypto market. Ethereum, they argue, is often used as a proxy for sentiment towards smaller tokens and alternative cryptocurrencies.

彭博社援引 QCP Capital 分析师的话说，这一趋势是对更广泛的加密货币市场中“害怕错过”(FOMO) 转变为“恐惧”的早期警告。他们认为，以太坊经常被用作对较小代币和替代加密货币的情绪的代表。

One key factor driving Bitcoin's ascendance may be the growing institutional interest in the cryptocurrency. In mid-March, Bitcoin reached a record high of $73,798 on the back of inflows into dedicated U.S. exchange-traded funds (ETFs) that debuted in January.

推动比特币崛起的一个关键因素可能是机构对加密货币日益增长的兴趣。 3 月中旬，随着资金流入 1 月份推出的美国专用交易所交易基金 (ETF)，比特币创下了 73,798 美元的历史新高。

However, the ETF-led Bitcoin surge has cooled over the past three weeks, partly due to economic indicators pointing towards higher-than-expected interest rates. At the time of writing, Bitcoin has retreated by approximately 9.33% from its all-time high, reaching $66,563, marking a 0.37% decline over the past 24 hours.

然而，ETF主导的比特币飙升在过去三周已经降温，部分原因是经济指标表明利率高于预期。截至撰写本文时，比特币已从历史高点回落约 9.33%，达到 66,563 美元，在过去 24 小时内下跌了 0.37%。

Ethereum, the second largest cryptocurrency by market capitalization, has also declined more steeply than Bitcoin in recent hours, losing 3.06% over the past 24 hours to reach $3247.

按市值计算的第二大加密货币以太坊最近几个小时的跌幅也超过了比特币，在过去 24 小时内下跌了 3.06%，至 3247 美元。

The decline in Bitcoin and Ethereum has had ripple effects across the wider crypto market, with most alternative cryptocurrencies, or altcoins, suffering even steeper losses. These developments highlight the potential volatility of the crypto market and the importance of monitoring key indicators, such as the Bitcoin-to-Ethereum ratio, to gauge market sentiment and potential risks.

比特币和以太坊的下跌对更广泛的加密货币市场产生了连锁反应，大多数替代加密货币或山寨币遭受了更严重的损失。这些事态发展凸显了加密货币市场的潜在波动性以及监控比特币与以太坊比率等关键指标以衡量市场情绪和潜在风险的重要性。