加密货币市场作为替代数字货币的强劲增长

加密货币市场作为替代性数字货币（通常称为altcoins）的表现优于比特币，经历了强烈的上升。

The cryptocurrency market experienced a strong upswing on Monday, March 24, as alternative digital currencies, commonly known as altcoins, outperformed Bitcoin in a broad-based rally.

加密货币市场在3月24日星期一的强劲上升，因为替代性数字货币（通常称为Altcoins）在基于广泛的集会中的表现优于比特币。

Among the top-performing altcoins, Solana (SOL) surged as much as 11%, Dogecoin (DOGE) climbed approximately 8%, and Avalanche (AVAX) registered an 8% increase.

在表现最佳的山寨币中，Solana（Sol）飙升了多达11％，Dogecoin（Doge）攀升了约8％，而Avalanche（Avax）增长了8％。

Meanwhile, Bitcoin (BTC) rose by 4.3%, reaching a two-week high of $88,786.

同时，比特币（BTC）上升了4.3％，达到了两周高的88,786美元。

The shift in U.S. tariff policies appeared to be a major factor driving the recent movements in the crypto market.

美国关税政策的转变似乎是推动加密货币市场最近移动的主要因素。

Signs of more targeted tariffs emerged, leading to reduced demand for traditional safe-haven assets, such as gold and U.S. Treasury bonds. Consequently, investors shifted their attention to riskier assets, including cryptocurrencies, in search of higher returns.

出现了更有针对性的关税的迹象，导致对传统避风港资产的需求减少，例如黄金和美国财政债券。因此，投资者将注意力转移到了包括加密货币在内的风险较高的资产上，以寻求更高的回报。

Bitcoin, often dubbed “digital gold,” usually benefits from economic uncertainty and inflationary pressures. However, with the market perceiving less immediate risk from trade tensions, the rotation toward altcoins became more pronounced.

比特币通常被称为“数字黄金”，通常受益于经济不确定性和通货膨胀压力。但是，随着市场认为贸易紧张局势的直接风险较小，向山寨币的轮换变得更加明显。

These tokens, boasting smaller market capitalizations and potentially greater growth potential, tended to attract speculative investors who might prefer higher yields during bullish phases.

这些代币具有较小的市值和潜在的增长潜力，往往会吸引投机性投资者，这些投资者更喜欢看涨期间的收益率更高。

During bullish market stretches, altcoins have historically shown the ability to outperform Bitcoin, especially in risk-on environments.

在看涨的市场延伸期间，山寨币历史上已经表明了胜过比特币的能力，尤其是在风险环境中。

However, this trend comes with significant volatility, as these tokens also tend to suffer steeper declines during market downturns.

但是，这一趋势具有大量波动，因为这些令牌在市场衰退期间也往往会遭受急剧下降。

Solana, recognized for its fast and low-cost transactions, has been increasingly preferred by memecoin issuers, further solidifying its position as a go-to blockchain for new token launches.

索拉纳（Solana）以其快速和低成本的交易而闻名，越来越多地受到Memecoin发行人的喜好，进一步巩固了其作为新代币发射的首选区块链的地位。

Dogecoin, the original meme cryptocurrency, continues to exhibit strong market performance, largely fueled by retail enthusiasm and potential integrations into mainstream financial ecosystems.

原始的模因加密货币Dogecoin继续表现出强大的市场表现，这在很大程度上是由于零售热情和潜在的一体化与主流金融生态系统的融合所推动的。

Avalanche, another high-performance blockchain network, has seen increased adoption due to its speed and scalability.

另一个高性能区块链网络Avalanche由于其速度和可扩展性而增加了采用。

A crucial indicator of market sentiment is the recent change in institutional capital flows into Bitcoin exchange-traded funds (ETFs).

市场情绪的关键指标是机构资本流入比特币交易所交易基金（ETF）的最新变化。

For five consecutive weeks, Bitcoin ETFs saw net outflows, indicating that more institutional investors were selling their Bitcoin holdings than buying.

连续五个星期，比特币ETF看到净流出，表明更多的机构投资者出售其比特币持有量，而不是购买。

Nevertheless, this trend reversed on Monday, March 24, as inflows returned, according to QCP Capital, a crypto asset trading firm. This marks a potential turning point that could restore confidence in Bitcoin’s medium-to-long-term trajectory.

尽管如此，根据加密资产贸易公司QCP Capital的数据，随着流入的返回，这种趋势在3月24日星期一逆转。这标志着一个潜在的转折点，可以恢复对比特币中期轨迹的信心。

ETFs provide a regulated and SEC-approved avenue for institutional investors to gain exposure to Bitcoin without needing to directly hold the cryptocurrency, which is typically required for participation in the decentralized crypto ecosystem.

ETF为机构投资者提供了受规律的和SEC批准的大道，以便在无需直接持有加密货币的情况下获得对比特币的暴露，这通常是参与分散的加密生态系统所必需的。

The return of institutional capital signals renewed interest in Bitcoin as an investable asset, particularly among longer-term holders who may view the recent price dip as a buying opportunity.

机构资本的回报信号将对比特币的利息恢复为可投资资产，尤其是在长期持有人可能将最近的价格下跌视为购买机会的长期持有人中。

Crypto trading expert Kirill Kretov from CoinPanel expressed caution against overinterpreting the recent rally.

来自Coinpanel的加密货币贸易专家Kirill Kretov表示谨慎地说明过度解释最近的集会。

“While markets are flashing green today—especially led by altcoins—there’s little beneath the surface to support a real shift in momentum,” Kretov stated. “From a broader view, this looks more like a short-term relief bounce than the start of something meaningful.”

克雷托夫说：“虽然当今市场闪烁着绿色，尤其是由Altcoins领导的绿色，但在地面以下很少，可以支持动量的真正转变。” “从更广泛的角度来看，这看起来更像是短期的浮雕，而不是有意义的事情的开始。”

Despite the recent price surge, Bitcoin remains approximately 20% below its all-time high, which was reached on the day former U.S. President Donald Trump was inaugurated for a second term in a surprising turn of events.

尽管最近的价格飙升，比特币仍比其历史最高高的比特币低约20％，这是在美国前总统唐纳德·特朗普（Donald Trump）在令人惊讶的事件转变的那一天达到的。

This decline has led some traders to question whether the market’s upward momentum can be sustained for an extended period.

这种下降使一些交易者质疑市场的上升势头是否可以长期维持。