The Cryptocurrency Market Explodes

加密貨幣市場爆炸性成長

In the past 24 hours, the cryptocurrency market, led by Bitcoin (BTC) and Dogecoin (DOGE), has experienced significant gains. As of Monday, November 11 (during the early Asian session), the total crypto market capitalization surged by over 4 percent, hovering around $2.9 trillion.

在過去的24小時內，以比特幣（BTC）和狗狗幣（DOGE）為首的加密貨幣市場經歷了大幅上漲。截至 11 月 11 日星期一（亞洲早盤時段），加密貨幣總市值飆升超過 4%，徘徊在 2.9 兆美元左右。

Bitcoin Breaks Records

比特幣打破記錄

Bitcoin's price climbed over 5 percent within 24 hours, reaching a new all-time high (ATH) of approximately $81,672. As the altcoin market followed Bitcoin's upward trend, crypto volatility intensified, resulting in the liquidation of over $684 million from leveraged traders.

比特幣價格在 24 小時內上漲超過 5%，達到約 81,672 美元的歷史新高 (ATH)。隨著山寨幣市場追隨比特幣的上漲趨勢，加密貨幣波動似乎，導致槓桿交易者清算了超過 6.84 億美元。

Factors Fueling Bitcoin's Rise

推動比特幣上漲的因素

The Bitcoin price and broader crypto market have been influenced by macroeconomic factors, particularly in the United States. The election of pro-crypto candidates has boosted the mainstream adoption of digital assets and web3 protocols.

比特幣價格和更廣泛的加密貨幣市場受到宏觀經濟因素的影響，尤其是在美國。支持加密貨幣的候選人的當選推動了數位資產和 web3 協議的主流採用。

Additionally, the United States anticipates acquiring 1 million Bitcoins within the next five years to mitigate its burgeoning national debt.

此外，美國預計在未來五年內購買 100 萬個比特幣，以減輕其不斷增長的國債。

Rate cuts from the Federal Reserve and the Bank of England to stimulate economic growth have also contributed to the influx of whale investors migrating from the gold market to Bitcoin and altcoins in search of higher returns.

聯準會和英格蘭銀行為刺激經濟成長而降息，也促使大量鯨魚投資者從黃金市場轉向比特幣和山寨幣，以尋求更高的回報。

In the past five weeks, US spot Bitcoin ETFs, led by BlackRock's IBIT, have experienced net cash inflows exceeding $7.3 billion.

過去五週，以貝萊德 IBIT 為首的美國現貨比特幣 ETF 淨現金流入超過 73 億美元。

The Future of Bitcoin

比特幣的未來

Having recorded its highest weekly close since its inception, Bitcoin has officially entered the most captivating phase of the macro bull market, characterized by a parabolic rally.

比特幣創下了自誕生以來的最高週收盤價，正式進入了宏觀牛市中最有吸引力的階段，其特點是拋物線上漲。

According to renowned trader Peter Brandt, Bitcoin's price action resembles Gold's in the macro time frame. Brandt draws parallels between Bitcoin's trajectory since March 2021 and Gold's from 2010 to early 2024.

著名交易員彼得布蘭特 (Peter Brandt) 表示，比特幣的價格走勢在宏觀時間範圍內類似於黃金。 Brandt 將 2021 年 3 月以來比特幣的軌跡與 2010 年至 2024 年初黃金的軌跡進行了比較。

Projecting a long-term target of $260k, Brandt asserts that Bitcoin will continue to experience price discovery until the second half of 2025, before entering a significant bearish cycle in subsequent years.

Brandt 預計長期目標為 26 萬美元，他斷言，直到 2025 年下半年，比特幣將繼續經歷價格發現，然後在隨後幾年進入顯著的看跌週期。