The Cryptocurrency Market Explodes

加密货币市场爆炸式增长

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.

在过去的24小时内，以比特币（BTC）和狗狗币（DOGE）为首的加密货币市场经历了大幅上涨。截至 11 月 11 日星期一（亚洲早盘时段），加密货币总市值飙升超过 4%，徘徊在 2.9 万亿美元左右。

Bitcoin Breaks Records

比特币打破记录

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.

比特币价格在 24 小时内上涨超过 5%，达到约 81,672 美元的历史新高 (ATH)。随着山寨币市场追随比特币的上涨趋势，加密货币波动加​​剧，导致杠杆交易者清算了超过 6.84 亿美元。

Factors Fueling Bitcoin's Rise

推动比特币上涨的因素

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.

比特币价格和更广泛的加密货币市场受到宏观经济因素的影响，尤其是在美国。支持加密货币的候选人的当选推动了数字资产和 web3 协议的主流采用。

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

此外，美国预计在未来五年内购买 100 万个比特币，以减轻其不断增长的国债。

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.

美联储和英格兰银行为刺激经济增长而降息，也促使大量鲸鱼投资者从黄金市场转向比特币和山寨币，以寻求更高的回报。

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

过去五周，以贝莱德 IBIT 为首的美国现货比特币 ETF 净现金流入超过 73 亿美元。

The Future of Bitcoin

比特币的未来

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.

比特币创下了自诞生以来的最高周收盘价，正式进入了宏观牛市中最有吸引力的阶段，其特点是抛物线上涨。

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.

著名交易员彼得·勃兰特 (Peter Brandt) 表示，比特币的价格走势在宏观时间范围内类似于黄金。 Brandt 将 2021 年 3 月以来比特币的轨迹与 2010 年至 2024 年初黄金的轨迹进行了比较。

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 预计长期目标为 26 万美元，他断言，直到 2025 年下半年，比特币将继续经历价格发现，然后在随后几年进入显着的看跌周期。