Key Insights:

主要見解：

The crypto market has witnessed both significant growth and corrections this week.

本週，加密貨幣市場既出現了顯著成長，也出現了調整。

Bitcoin achieved a new all-time high of $89.9K, while Ethereum surpassed $3,000.

比特幣創下 8.99 萬美元的歷史新高，而以太坊則突破 3,000 美元。

Dogecoin surpassed both XRP and USDC in market capitalization.

狗狗幣的市值超過了 XRP 和 USDC。

Altcoins have experienced sharp corrections, while Bitcoin has remained steady, increasing its market dominance to almost 60%.

山寨幣經歷了大幅調整，而比特幣則保持穩定，其市場主導地位增加至近 60%。

Bitcoin Market Dominance Approaching 60%

比特幣市場主導地位接近 60%

Bitcoin hit a record high of $89.9K, stabilizing around $86K at the time of writing. This surge has established Bitcoin as one of the week's top gainers, boosting the overall crypto market capitalization to near $3 trillion due to its high market share.

比特幣創下 8.99 萬美元的歷史新高，在撰寫本文時穩定在 8.6 萬美元左右。此次飆升使比特幣成為本週漲幅最大的股票之一，由於其較高的市場份額，加密貨幣總市值達到近 3 兆美元。

Bitcoin's market dominance currently stands at around 59.8% and is projected to reach 60% by the end of the week, driven by weaker altcoin performance and strong investor support for Bitcoin.

比特幣的市場主導地位目前約為 59.8%，預計在山寨幣表現疲軟和投資者對比特幣的大力支持的推動下，到本週末將達到 60%。

Bitcoin's Market Dominance History

比特幣的市場主導地位歷史

Bitcoin's dominance has evolved through four key phases in the past decade.

在過去十年中，比特幣的主導地位經歷了四個關鍵階段。

2013-2024: Bitcoin Dominance Trajectory

2013-2024：比特幣主導軌跡

Analysts initially believed Bitcoin's dominance would decline as the crypto market matured. This trend held true until 2018, when Bitcoin's dominance reached a low of 34%. In 2019, Bitcoin experienced a significant rally, boosting its dominance from 34% to 70%, as it surge from $3.6K to $12.1K. This growth gradually subsided starting in 2021.

分析師最初認為，隨著加密貨幣市場的成熟，比特幣的主導地位將會下降。這一趨勢一直持續到 2018 年，當時比特幣的主導地位降至 34% 的低點。 2019 年，比特幣經歷了大幅上漲，其主導地位從 34% 提升至 70%，價格從 3,600 美元飆升至 12,100 美元。從 2021 年開始，這種成長逐漸放緩。

From early 2021 to late 2022, Bitcoin's market share fell from 69.2% to 38.3% amid the crypto winter and Bitcoin ETF launches. However, the current phase has been marked by strong growth, with Bitcoin's price rising from around $16K in early 2023 to nearly $90K by late 2024, lifting its dominance from 38% to 60%.

從 2021 年初到 2022 年底，隨著加密貨幣寒冬和比特幣 ETF 的推出，比特幣的市佔率從 69.2% 下降至 38.3%。然而，當前階段的特點是強勁增長，比特幣的價格從 2023 年初的 16,000 美元左右上漲到 2024 年底的近 9 萬美元，其主導地位從 38% 提升到 60%。

This recent surge has been driven by institutional interest, including Bitcoin ETFs and increased investments from major firms, a factor not observed in previous phases. However, Bitcoin's dominance may have peaked as its price stabilizes around current levels.

最近的飆升是由機構興趣推動的，包括比特幣 ETF 和大公司投資的增加，這是前幾個階段沒有觀察到的因素。然而，隨著比特幣價格穩定在當前水準附近，比特幣的主導地位可能已經達到頂峰。

Why Are Altcoins Struggling?

為什麼山寨幣陷入困境？

While altcoins experienced short-term gains, such as Ethereum surpassing $3,000 and Solana reaching its 2024 high of $210, these assets quickly corrected after their peak.

雖然山寨幣經歷了短期上漲，例如以太坊突破 3,000 美元，Solana 達到 2024 年高點 210 美元，但這些資產在高峰後迅速回調。

The reasons for these corrections are likely to become clearer by week's end. However, profit-taking appears to play a significant role. Bitcoin receives consistent support from institutional investors, while altcoins tend to lack such commitment, leading to volatility.

這些調整的原因可能會在周末變得更加清晰。然而，獲利了結似乎發揮了重要作用。比特幣得到了機構投資者的持續支持，而山寨幣往往缺乏這種承諾，導致波動。

Market Outlook

市場展望

The market may recover to recent highs as capital inflow has remained steady in recent weeks. This consistent influx is largely attributed to the Federal Reserve's recent 0.75% rate cut, which has directed significant liquidity into crypto, pushing the market capitalization to $3 trillion.

由於近幾週資本流入保持穩定，市場可能會恢復至近期高點。這種持續的湧入很大程度上歸因於聯準會最近降息 0.75%，這將大量流動性引入加密貨幣，將市值推至 3 兆美元。

Historically, markets have recovered from profit-taking corrections like those seen this week. During these rally-driven spikes, derivatives data tends to become highly volatile, leading to rapid fluctuations, as observed in recent days.

從歷史上看，市場已經從本週出現的獲利回吐調整中恢復過來。正如最近幾天所觀察到的那樣，在這些反彈驅動的峰值期間，衍生性商品數據往往會變得高度波動，導致快速波動。

This volatility is expected to diminish within the next two weeks, with the market likely to stabilize at higher levels by late November 2024.

這種波動性預計將在未來兩週內減弱，市場可能會在 2024 年 11 月下旬穩定在較高水準。