為什麼這個比特幣市場有所不同，因為Altcoins落後於比特幣價格

加密公司Matrixport已經深入了解了為什麼這個牛市與2021年的牛市不同。他們的分析更加闡明了山寨幣為何落後

Crypto firm Matrixport has delivered insights into why this bull market is different from the 2021 bull run as it continues to unfold. Their analysis sheds more light on why altcoins are lagging despite the Bitcoin (BTC) price rally to a new all-time high (ATH).

加密公司Matrixport已經深入了解了為什麼這種牛市與2021年的牛市不斷發展。儘管比特幣（BTC）的價格集會達到了新的歷史最高（ATH），但他們的分析表明了為什麼Altcoins落後於為什麼Altcoins落後。

As reported by Matrixport in a recent X post, many traders are missing out on the current Bitcoin price rally as traditional retail engagement indicators remain low despite the rally to a new ATH. The firm explained that this rally is happening thanks to institutional investors, with retail investors on the sidelines in this bull market.

正如Matrixport在最近的X帖子中報導的那樣，許多交易者在當前的比特幣價格集會上錯過了，儘管傳統的零售參與指標仍然較低，儘管集會到新的ATH。該公司解釋說，由於機構投資者，這次集會正在發生，散戶投資者在這個牛市的場外。

“Perhaps this explains the subdued funding rates, low retail activity and many altcoins lagging as Bitcoin price rallies in this bull market. Retail traders also make the fundamental mistake of not anticipating market corrections, leading them to sometimes close their positions during sharp drawdowns,” Matrixport added.

“也許這解釋了在這個牛市的比特幣價格集會，零售價滯後的籌資率，低零售活動和許多山寨幣滯後。零售交易員還犯了一個根本的錯誤，即不預料到市場糾正，導致他們有時在急劇下降期間關閉其位置，” Matrixport補充說。

This bull market also differs from 2021 in that retail’s share of Bitcoin ownership is no longer expanding. Crypto whales have stepped in and are absorbing most of the flagship crypto’s supply, kicking retail investors to the curb. As Bloomberg analyst Eric Balchunas pointed out, this could explain why the Bitcoin price has held up well during major corrections.

這個牛市在零售比特幣所有權的份額中也不同於2021年，不再擴大。加密鯨已經介入並吸收了大多數旗艦加密貨幣的供應，將零售投資者踢到路邊。正如彭博分析師埃里克·巴爾庫納斯（Eric Balchunas）指出的那樣，這可以解釋為什麼比特幣價格在重大糾正期間表現良好。

According to Matrixport, understanding how corporate demand influences the Bitcoin price behavior and how long this trend is likely to last will be crucial as the shift in this bull market progresses. The absence of retail traders in this cycle explains why funding rates and trading volumes are relatively low, with altcoins lagging.

根據Matrixport的說法，了解公司需求如何影響比特幣價格行為以及這種趨勢可能持續多長時間將是至關重要的，這是隨著牛市的發展而發展。在此週期中，零售商人的缺席解釋了為什麼資金率和交易量相對較低，而山寨幣滯後。

The firm noted that market participants are witnessing a quiet transfer of Bitcoin from early adopters and investors, miners, and exchanges to corporations like Strategy and institutional investors like BlackRock. Matrixport again asserted that the current Bitcoin price rally is driven by spot market accumulation and not derivatives activity, which could explain why altcoins are lagging behind BTC.

該公司指出，市場參與者正在見證比特幣從早期採用者，投資者，礦工和交易所轉移到戰略和諸如BlackRock等機構投資者之類的公司。 Matrixport再次斷言，當前的比特幣價格集會是由現貨市場積累而不是衍生品活動驅動的，這可以解釋為什麼AltCoins落後於BTC。

In a separate X post, crypto analyst Kevin Capital stated that the next important step is for the Bitcoin price to record a weekly close above $106,800 and then follow through or consolidate next week.

加密分析師凱文資本（Kevin Capital）在單獨的X帖子中表示，下一個重要的步驟是，比特幣價格每週都在106,800美元以上的收盤價記錄，然後在下週遵循或鞏固。

“BTC is really the only thing that matters. Take your eyes off the altcoins,” the analyst wrote in part.

這位分析師部分地寫道：“ BTC確實是唯一重要的事情。將您的視線從Altcoins身上移開。”

If the Bitcoin price fails to accomplish that goal, then participants can turn their attention to the reverse psychology 2021 fractals, the analyst added. It is worth mentioning that the analyst predicted that altcoins led by Dogecoin will still have their run once BTC’s dominance cools off in the summer.

分析師補充說，如果比特幣價格無法實現該目標，那麼參與者可以將注意力轉向反向心理學2021分形。值得一提的是，分析師預測，一旦BTC的統治地位在夏天降溫後，由Dogecoin領導的Altcoins仍將進行跑步。

At the time of writing, the Bitcoin price is trading at around $108,258, down almost 2% in the last 24 hours, according to data from CoinMarketCap.

根據CoinMarketCap的數據，在寫作時，比特幣價格的交易價格約為108,258美元，在過去24小時內下降了近2％。