随着比特币 (BTC) 飙升至历史新高，ETH/BTC 触及今年最低水平，加剧了市场主导地位的争论

比特币 (BTC) 创下历史新高 97,862.64 美元（美国东部时间凌晨 1 点）。与此同时，以太坊（ETH）继续落后

Bitcoin (BTC) price reached an all-time high on Wednesday, hitting $97,862.64 (1 a.m. EST), according to data from CoinMarketCap. At the same time, BTC’s rally has sparked debates over market dominance, as evidenced by a 3% increase in BTC’s share of the crypto market over the last month.

根据 CoinMarketCap 的数据，比特币 (BTC) 价格周三创下历史新高，达到 97,862.64 美元（美国东部时间凌晨 1 点）。与此同时，BTC 的上涨引发了关于市场主导地位的争论，上个月 BTC 在加密市场的份额增加了 3% 就证明了这一点。

However, the performance of the second-largest cryptocurrency has fallen to the lowest levels this year when measured against Bitcoin. As of press time, BTC is trading at $97,379.69, with minimal price changes over the last 24 hours and a 70% year-to-date漲幅.

然而，以比特币衡量，第二大加密货币的表现已跌至今年的最低水平。截至发稿，BTC 交易价格为 97,379.69 美元，过去 24 小时内价格变化最小，今年迄今涨幅为 70%。

Bitcoin Dominance Rises

比特币主导地位上升

According to CoinMarketCap, BTC’s share of the crypto market has climbed to 60.5%, while ETH’s dominance has dropped to 11.8%, down from 13.8% last month. This marks a significant shift in market dynamics, with altcoins, including ETH, facing selling pressure as investors flock to Bitcoin.

根据 CoinMarketCap 的数据，BTC 在加密市场的份额已攀升至 60.5%，而 ETH 的主导地位已从上个月的 13.8% 下降至 11.8%。这标志着市场动态的重大转变，随着投资者涌向比特币，包括 ETH 在内的山寨币面临抛售压力。

Speaking on the matter, Edul Patel, CEO of Mudrex, stated the following during an interview with IndiaToday:

Mudrex 首席执行官 Edul Patel 在接受 IndiaToday 采访时表示：

“Today, more institutional investors are investing in Bitcoin compared to before. The second factor was the political landscape, particularly Donald Trump, who became the President-elect of the United States. Donald Trump has had an impact, and it’s said that he revised his stance on cryptocurrencies, with Elon Musk acting as a crypto-positive representative.”

“与以前相比，今天有更多的机构投资者投资比特币。第二个因素是政治格局，特别是成为美国当选总统的唐纳德·特朗普。唐纳德·特朗普产生了影响，据说他改变了对加密货币的立场，而埃隆·马斯克则成为加密货币积极的代表。”

As institutional investors continue to drive up the demand for Bitcoin, altcoins, such as ETH, may face further challenges in regaining market share. Moreover, the ETH/BTC pair hitting a year-to-date low further upholds the notion that the second-largest cryptocurrency has not performed as well as BTC has this year.

随着机构投资者继续推高对比特币的需求，以太坊等山寨币在夺回市场份额方面可能面临进一步的挑战。此外，ETH/BTC 货币对触及今年以来的低点，进一步证实了第二大加密货币今年表现不如 BTC 的观点。

Looking at ETH’s price chart for the year reveals that momentum has indeed fluctuated at critical resistance levels, but it still lags behind BTC’s upward trend. Such an observation is further supported by the M.A.C.D. indicator, which shows signs of weakness in ETH’s price action.

从ETH今年的价格图表来看，动量确实在关键阻力位波动，但仍落后于BTC的上涨趋势。 MACD 指标进一步支持了这一观察结果，该指标显示 ETH 价格走势疲软的迹象。

Meanwhile, the Altcoin Season Index, which currently scores 28, also shows that the market is not favoring altcoins. A drop in the market cap of altcoins compared to Bitcoin also indicates that liquidity is shifting from altcoins, including ETH, towards BTC.

与此同时，山寨币季节指数目前为28，也表明市场并不青睐山寨币。与比特币相比，山寨币的市值下降也表明流动性正在从包括 ETH 在内的山寨币转向 BTC。

Will Ethereum Pick the Pace Up?

以太坊会加快步伐吗？

The trajectory of ETH’s recovery both in terms of price and market dominance will depend on several fundamental and technical factors. While fundamental analysis shows the ongoing acceptance of Layer-2 solutions, development in decentralized finance, and active staking on Ethereum 2.0, technical analysis would indicate an initial level of support at 0.057 BTC, which could potentially act as a base.

ETH 在价格和市场主导地位方面的复苏轨迹将取决于几个基本面和技术因素。虽然基本面分析显示 Layer-2 解决方案的持续接受、去中心化金融的发展以及以太坊 2.0 上的积极质押，但技术分析表明初步支撑位为 0.057 BTC，这可能会成为一个基础。

Resistance levels are at 0.065 BTC and 0.070 BTC, which mark critical thresholds ETH needs to break if it is to regain momentum in its performance against Bitcoin. Closing the gap will require ETH to break above resistance levels and ride out ongoing network upgrades; such moves might help the ETH/BTC pair regain their lost ground against Bitcoin.

阻力位位于 0.065 BTC 和 0.070 BTC，这标志着 ETH 要想恢复相对于比特币的表现势头，需要突破这一关键阈值。缩小差距需要 ETH 突破阻力位并安然度过正在进行的网络升级；此类举措可能有助于 ETH/BTC 货币对收复相对于比特币的失地。