Bitcoin's Surge Drives Market to Record Highs

比特幣的飆升推動市場創下歷史新高

Bitcoin's price recently reached an all-time peak of $89,000 on November 12, leading to substantial losses for traders who had anticipated a decline in prices.

比特幣的價格最近在 11 月 12 日達到了 89,000 美元的歷史最高點，導致預期價格下跌的交易者遭受了巨額損失。

This single-day surge of over 10% eliminated more than $700 million in "short" trades initiated by over 173,000 traders, including a significant individual trade worth $15.70 million on Binance, as per data from CoinGlass.

根據 CoinGlass 的數據，超過 10% 的單日漲幅消除了超過 173,000 名交易者發起的超過 7 億美元的「空頭」交易，其中包括幣安上價值 1570 萬美元的重大個人交易。

Investor sentiment remains bullish, as evidenced by the "Fear and Greed Index" reaching "Extreme Greed" with a score of 85. This elevated level indicates that many investors are anticipating substantial profits, but it also suggests a higher risk tolerance among them.

投資者情緒依然看漲，“恐懼與貪婪指數”達到“極度貪婪”，得分為85分。

Crypto Market Expansion

加密貨幣市場擴張

Riding on Bitcoin's momentum, the overall crypto market witnessed a 9.6% increase, surpassing $3 trillion in value, with Bitcoin accounting for approximately 59% of this sum.

借助比特幣的勢頭，整個加密貨幣市場增長了 9.6％，價值超過 3 兆美元，其中比特幣約佔其中的 59％。

Dogecoin's Gains

狗狗幣的收益

Beyond Bitcoin, Dogecoin (DOGE) experienced a remarkable 48% price surge within a single day, marking its fourth consecutive day of gains. Over the preceding week, it has increased by 150%, bringing it closer to the $1 mark. Dogecoin futures trading volume reached $68 million in just 24 hours, reflecting investor speculation about its future value.

除了比特幣之外，狗狗幣 (DOGE) 的價格在一天內飆升了 48%，這是連續第四天上漲。過去一周，它上漲了 150%，接近 1 美元大關。狗狗幣期貨交易量在短短 24 小時內就達到了 6,800 萬美元，反映出投資者對其未來價值的猜測。

Cautionary Notes

注意事項

Amidst this market enthusiasm, some crypto experts are urging caution. Kris Marszalek, CEO of Crypto.com, emphasized that "leverage needs to be cleaned up before [Bitcoin's] attack on $100K."

在市場熱情高漲的情況下，一些加密貨幣專家敦促謹慎行事。 Crypto.com 執行長 Kris Marszalek 強調，“在[比特幣]攻擊 10 萬美元之前，需要清理槓桿。”

This implies that to sustain a healthy price rise, the market may require a brief cooling-off period to reduce the amount of borrowed funds driving these trades. Bitcoin's current leverage ratio, indicating the extent of borrowed capital used in trading, has reached a one-year high of 0.217, as reported by CryptoQuant.

這意味著，為了維持健康的價格上漲，市場可能需要短暫的冷靜期，以減少推動這些交易的借入資金量。根據 CryptoQuant 報導，比特幣目前的槓桿率（顯示交易中使用借入資金的程度）已達到 0.217 的一年高點。

Similarities to Recent Market Trends

與近期市場趨勢的相似之處

Meanwhile, the "Extreme Greed" sentiment is reminiscent of the situation in April 2021, when similar exuberance led to a decline in Bitcoin's price from over $69,000 to around $56,500 within a few weeks. Nonetheless, investors remain optimistic in light of Donald Trump's recent re-election, as he is widely perceived as supportive of the crypto markets.

與此同時，「極度貪婪」的情緒讓人想起 2021 年 4 月的情況，當時類似的繁榮導致比特幣的價格在幾週內從 69,000 美元以上跌至 56,500 美元左右。儘管如此，鑑於唐納德·川普最近的連任，投資者仍然保持樂觀，因為人們普遍認為他支持加密貨幣市場。

Additional Reading:

補充閱讀：

• Germany Missed $1.7 Billion Profit by Selling 50,000 Bitcoin

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