Key Points

关键点

• The global crypto market has seen a 5.8% increase, pushing Bitcoin’s market dominance to 53.3%.

全球加密货币市场增长了 5.8%，将比特币的市场主导地位推至 53.3%。

• Bitcoin’s market capitalization has reached a new all-time high, with other major altcoins also rallying.

比特币的市值已创历史新高，其他主要山寨币也在上涨。

The global market cap of cryptocurrencies has risen by 5.8% to $2.51 trillion as of March 4. This surge has resulted in a boost in Bitcoin’s (BTC) market dominance to 53.3%, as its market cap reached a new peak.

截至 3 月 4 日，全球加密货币市值已上涨 5.8%，达到 2.51 万亿美元。这一飙升导致比特币 (BTC) 的市场主导地位提升至 53.3%，市值达到新的峰值。

Bitcoin (BTC) has seen an 8.5% increase in the last 24 hours, reaching an intra-day high of $68,602 on March 4. Other top cryptocurrencies such as Ethereum (ETH), Cardano (ADA), XRP (XRP), and Dogecoin (DOGE) have also seen significant increases.

比特币 (BTC) 在过去 24 小时内上涨 8.5%，于 3 月 4 日达到日内高点 68,602 美元。其他顶级加密货币如以太坊 (ETH)、卡尔达诺 (ADA)、瑞波币 (XRP) 和狗狗币（DOGE）也出现了显着增长。

Bitcoin’s Market Cap Hits New High

比特币市值再创新高

Bitcoin’s market capitalization has reached a new record against the dollar. BTC’s rally to $68,602 on March 4 pushed its total market value to a high of $1.33 trillion. The last time BTC’s market cap reached $1.3 trillion was over two years ago, on Nov. 10, 2021, when it hit $68,990.

比特币兑美元市值创下新纪录。 3 月 4 日，BTC 上涨至 68,602 美元，将其总市值推至 1.33 万亿美元的高位。 BTC 市值上一次达到 1.3 万亿美元是在两年多前，即 2021 年 11 月 10 日，当时触及 68,990 美元。

A cryptocurrency’s market capitalization is the total value of the digital asset calculated by multiplying the number of coins in circulation by the current spot price of the coin. At the time of writing, there were 19,644,550 BTC in supply.

加密货币的市值是通过将流通中的代币数量乘以该代币的当前现货价格计算得出的数字资产的总价值。截至撰写本文时，比特币供应量为 19,644,550。

BTC’s price rally has been attributed to the upcoming supply halving, which is expected to reduce miner rewards by 50%. There are approximately 48 days left until the halving. The approval of spot exchange-traded funds (ETFs) in the United States has also contributed to Bitcoin’s price growth.

BTC 价格上涨归因于即将到来的供应减半，预计矿工奖励将减少 50%。距离减半还有大约 48 天。美国现货交易所交易基金（ETF）的批准也促进了比特币价格的上涨。

Record Inflows into Crypto Products

加密产品的资金流入创历史新高

The price of BTC continued to rise toward its all-time high amid increasing inflows into the spot Bitcoin ETFs. According to the Digital Asset Fund Flows Weekly Report, crypto products recorded their second-largest weekly inflow, totaling $1.84 billion. This was accompanied by a record $30 billion in trading volume.

随着现货比特币 ETF 的资金流入不断增加，比特币的价格继续上涨至历史新高。根据《数字资产资金流向周报》，加密产品录得第二大周流入量，总计 18.4 亿美元。与此同时，交易量也创下了 300 亿美元的纪录。

Bitcoin accounted for “94% of the inflows” at $1.72 billion, as U.S.-based funds continued to dominate with net inflows totaling $1.88 billion. This comes against a backdrop of increasing outflows from the incumbent Grayscale Bitcoin ETF, GBTC.

比特币占“资金流入的 94%”，达 17.2 亿美元，而美国基金继续以 18.8 亿美元的净流入占据主导地位。这是在现有灰度比特币 ETF（GBTC）资金流出不断增加的背景下发生的。

While institutional capital continues to flow into Bitcoin, recent price moves saw short investors double down with further inflows. The crypto market rally has also led to a wave of short position liquidations across the market, totaling over $348.2 million in 24 hours.

尽管机构资本继续流入比特币，但最近的价格走势导致空头投资者加倍下注，资金进一步流入。加密货币市场的上涨还引发了整个市场的空头平仓浪潮，24 小时内总计超过 3.482 亿美元。

Despite the short-seller losing streak, “$3 billion in open interest has been added to the #crypto market over the last 24 hours,” according to crypto trading analysis platform Coinalyze.

尽管卖空者连续亏损，但根据加密货币交易分析平台 Coinalyze 的数据，“过去 24 小时内#crypto 市场增加了 30 亿美元的未平仓合约”。

Open interest (OI) measures the total value of all outstanding crypto futures contracts across exchanges. A high OI value indicates increased market activity and investor sentiment.

未平仓合约 (OI) 衡量交易所所有未平仓加密货币期货合约的总价值。高 OI 值表明市场活动和投资者情绪增加。

There is optimism surrounding the spot ETFs and the upcoming Bitcoin halving, leading to increased positive sentiment. Increased institutional capital flows into crypto funds, a potential spot Ether ETF, and the upcoming Bitcoin halving are strong indications the bull market is here.

人们对现货 ETF 和即将到来的比特币减半持乐观态度，导致积极情绪增加。流入加密货币基金的机构资本增加、潜在的以太坊 ETF 现货以及即将到来的比特币减半都是牛市到来的强烈迹象。