• Bitcoin and other cryptos decline following a recent surge amidst rising bond yields.

比特幣和其他加密貨幣近期因債券殖利率上升而飆升，隨後出現下跌。

• The lukewarm debut of a crypto ETF casts shadows on the market.

加密貨幣 ETF 的首次亮相為市場蒙上了陰影。

• Experts weigh in on Bitcoin’s long-term prospects amidst current market dynamics.

在當前的市場動態中，專家們對比特幣的長期前景進行了權衡。

With Bitcoin experiencing a downward shift and the unenthusiastic launch of new crypto ETFs, the crypto world finds itself at a crossroad, re-evaluating its long-term potential amidst fluctuating market conditions.

隨著比特幣經歷下行趨勢以及新加密貨幣 ETF 的推出不積極，加密貨幣世界發現自己處於十字路口，在波動的市場條件下重新評估其長期潛力。

Bitcoin’s Rollercoaster Ride

比特幣的過山車之旅

After a recent peak, Bitcoin, along with other cryptocurrencies, witnessed a dip on Tuesday. Its price slid by 3% in the last 24 hours, settling below the $27,600 mark, following Monday’s high of $28,500. Despite this drop, Bitcoin has managed to stay afloat above the $26,000 threshold that had been its primary trading zone for nearly two months, characterized by low volatility and volume.

在經歷了最近的高峰之後，比特幣和其他加密貨幣在周二出現了下跌。繼週一觸及 28,500 美元高點後，其價格在過去 24 小時內下跌 3%，跌破 27,600 美元大關。儘管這種下跌，比特幣仍設法維持在近兩個月來其主要交易區域 26,000 美元的門檻之上，其特點是波動性和交易量較低。

Market Experts Weigh In

市場專家發表意見

Katie Stockton, a managing partner at Fairlead Strategies, shared her insights, noting, “Bitcoin has observed a positive short-term shift post breaking above the 50-day moving average around $26,500.” She added that significant initial support hovers around the $25,200 range and maintained a “long-term neutral” stance on the crypto giant.

Fairlead Strategies 的執行合夥人 Katie Stockton 分享了她的見解，並指出：“比特幣在突破 26,500 美元左右的 50 日移動均線後，出現了積極的短期轉變。”她補充說，重要的初步支撐位徘徊在 25,200 美元附近，並對這家加密巨頭保持「長期中立」立場。

Factors Influencing the Crypto Dip

影響加密貨幣下跌的因素

Several elements played a role in the recent sell-off. Bitcoin’s recent high since mid-August led to profit-taking, further compounded by the surge in Treasury yields – a trend echoing in the Dow Jones Industrial Average and S&P 500’s performances. Elevated returns on risk-free government debt often suppress demand for riskier assets like stocks and cryptos. This sentiment was reinforced as the yield on the benchmark 10-year U.S. Treasury note surged to 4.7% on Tuesday, its zenith since 2007.

有幾個因素在最近的拋售中發揮了作用。比特幣自 8 月中旬以來的近期高點引發了獲利了結，而美國國債殖利率的飆升進一步加劇了這一趨勢 — — 這一趨勢與道瓊工業指數和標準普爾 500 指數的表現相呼應。無風險政府債務報酬率的提高往往會抑制對股票和加密貨幣等風險較高資產的需求。隨著基準 10 年期美國公債殖利率週二飆升至 4.7%，為 2007 年以來的最高點，這種情緒得到加強。

Crypto ETFs: A Cause for Concern?

加密貨幣 ETF：令人擔憂的原因？

Adding to the market’s trepidation was the tepid launch of an Ether futures ETF, despite Bitcoin futures ETFs having been around since 2021. Seven of these ETFs went live on Monday after approval from the Securities and Exchange Commission. However, their debut lacked enthusiasm, as observed by Eric Balchunas, an ETF analyst at Bloomberg. Comparing the Ether futures ETFs to the ProShares Bitcoin Strategy ETF, he remarked on the stark contrast in their initial performances.

儘管比特幣期貨 ETF 自 2021 年以來就已存在，但以太坊期貨 ETF 的推出卻冷淡，加劇了市場的恐慌。其中 7 隻 ETF 在獲得美國證券交易委員會批准後於週一上線。然而，正如彭博社 ETF 分析師 Eric Balchunas 所觀察到的那樣，它們的首次亮相缺乏熱情。在將以太坊期貨 ETF 與 ProShares 比特幣策略 ETF 進行比較時，他指出兩者最初的表現形成鮮明對比。

Waning Interest in Crypto?

對加密貨幣的興趣減弱？

The lackluster Ether futures ETFs launch has traders speculating about dwindling investor interest in crypto. Hal Press, founder of crypto hedge fund North Rock Digital, opined that the current market environment suggests diminished demand for crypto ETF products. Beyond Bitcoin, other cryptocurrencies like Ether, Cardano, and memecoins like Dogecoin and Shiba Inu also experienced dips, further pointing towards a challenging period for the crypto domain.

以太坊期貨 ETF 的推出表現平淡，交易員猜測投資者對加密貨幣的興趣正在下降。加密對沖基金 North Rock Digital 創辦人 Hal Press 認為，目前的市場環境顯示對加密 ETF 產品的需求減少。除了比特幣之外，以太幣、卡爾達諾等其他加密貨幣以及狗狗幣和柴犬等迷因幣也經歷了下跌，這進一步表明加密領域正面臨一個充滿挑戰的時期。

Conclusion

結論

While the world of cryptocurrencies has always been tumultuous, the recent events underscore the significance of external factors like bond yields and product launches in influencing market sentiment. The subdued response to new crypto ETFs, coupled with Bitcoin’s price dynamics, sends a clear message to investors: caution is paramount, and close monitoring of the evolving landscape is crucial to navigate the unpredictable seas of the crypto world.

儘管加密貨幣世界一直動盪不安，但最近發生的事件凸顯了債券殖利率和產品發布等外部因素對影響市場情緒的重要性。對新加密貨幣ETF 的低迷反應，加上比特幣的價格動態，向投資者發出了一個明確的信息：謹慎是最重要的，密切監控不斷變化的形勢對於在加密貨幣世界不可預測的海洋中航行至關重要。

The post Bitcoin Takes a Hit: Underwhelming Crypto ETF Launches Fuel Concerns appeared first on COINOTAG NEWS.

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