比特幣、以太坊和拋售壓力：新時代？

分析比特幣、以太坊的動態變化以及加密貨幣市場拋售壓力的消退。機構信心恢復了嗎？

Bitcoin, Ethereum, and Selling Pressure: A New Era?

比特幣、以太坊和拋售壓力：新時代？

Bitcoin and Ethereum are navigating a dynamic landscape. Recent trends indicate diminishing selling pressure and renewed institutional confidence, potentially paving the way for new highs.

比特幣和以太坊正在蓬勃發展。最近的趨勢表明拋售壓力正在減弱，機構信心重新煥發，可能為新高鋪平道路。

Diminishing Selling Pressure in Bitcoin's Derivatives Market

比特幣衍生品市場拋售壓力減弱

Recent on-chain analytics from CryptoQuant reveal a significant shift in Bitcoin's derivatives market. The Net Taker Volume, an indicator of buying and selling aggression, shows a dramatic move from negative to positive, suggesting that selling pressure is fading. One analyst pointed out a similar pattern occurred during the April 2025 correction, which preceded a robust bullish trend. This indicates that institutional confidence might be returning, potentially driving Bitcoin toward the $100,000 mark.

CryptoQuant 最近的鏈上分析揭示了比特幣衍生品市場的重大轉變。淨接受量（Net Taker Volume）是買賣積極性的指標，顯示出從負值到正值的急劇變化，表明拋售壓力正在減弱。一位分析師指出，在 2025 年 4 月的調整期間也出現了類似的模式，該調整出現在強勁的看漲趨勢之前。這表明機構信心可能正在恢復，有可能推動比特幣升至 10 萬美元大關。

The Net Taker Volume, which reflects the imbalance between aggressive buying and selling in Bitcoin futures markets, has shifted from predominantly red (aggressive selling) to green (aggressive buying) between July and October 2025. The most recent data shows a positive change of $400 million, signaling a significant bullish sentiment shift. This surge is reminiscent of a previous recovery when Bitcoin rebounded from $70,000 to $100,000 in just two months.

反映比特幣期貨市場積極買入和賣出之間不平衡的淨接受量在 2025 年 7 月至 10 月期間已從以紅色（積極賣出）為主轉變為綠色（積極買入）。最新數據顯示出現 4 億美元的積極變化，表明看漲情緒發生重大轉變。這種飆升讓人想起之前的複蘇，當時比特幣在短短兩個月內從 70,000 美元反彈至 100,000 美元。

Ethereum ETF's Spark Altcoin Interest

以太坊 ETF 引發山寨幣興趣

The recent surge in Ethereum ETFs has reignited interest in the altcoin market, with traders eyeing high-potential assets like Solana, Polygon, and XRP. Ethereum is holding steady above $4,450, and with ETF inflows on the rise, the market is entering a new phase of institutional adoption. This institutional interest has also extended to MAGACOIN FINANCE, a new altcoin project gaining traction.

最近以太坊 ETF 的激增重新激發了人們對山寨幣市場的興趣，交易者將目光投向了 Solana、Polygon 和 XRP 等高潛力資產。以太坊穩定在 4,450 美元上方，隨著 ETF 流入的增加，市場正在進入機構採用的新階段。這種機構興趣也延伸到了 MAGACOIN FINANCE，這是一個受到關注的新山寨幣項目。

Ethereum ETFs are gaining popularity, boosted by Grayscale's launch of staking rewards on its Ethereum Trust (ETHE) and Mini Trust (ETH). This move is a significant step for U.S. crypto ETFs, enabling investors to earn staking yields while maintaining exposure to ETH price movements. Such developments enhance institutional trust in Ethereum, combining yield opportunities with controlled fund structures.

受 Grayscale 在其以太坊信託 (ETHE) 和迷你信託 (ETH) 上推出質押獎勵的推動，以太坊 ETF 越來越受歡迎。此舉對於美國加密 ETF 來說是重要的一步，使投資者能夠在保持 ETH 價格波動風險的同時賺取質押收益。這些發展增強了機構對以太坊的信任，將收益機會與受控的基金結構結合起來。

Altcoins in the Spotlight: Solana, Polygon, and XRP

聚光燈下的山寨幣：Solana、Polygon 和 XRP

As investors return to Ethereum and large-cap altcoins, Solana, Polygon, and XRP have emerged as leading diversification choices. Solana is actively traded, fueled by speculation about potential spot ETF approval. Polygon is considering governance reforms to eliminate token inflation, potentially boosting its market value. XRP is maintaining support at $2.80, with on-chain data showing significant token accumulation around this level.

隨著投資者回歸以太坊和大盤山寨幣，Solana、Polygon 和 XRP 已成為領先的多元化選擇。由於現貨 ETF 可能獲得批准的猜測，Solana 交易活躍。 Polygon 正在考慮進行治理改革，以消除代幣通脹，從而有可能提高其市場價值。 XRP 維持在 2.80 美元的支撐位，鏈上數據顯示該水平附近有大量代幣積累。

The Role of Derivatives in Market Stability

衍生品在市場穩定中的作用

Interestingly, derivatives trading appears to be stabilizing Bitcoin, rather than increasing its volatility. As selling pressure decreases, futures markets are providing directional support to spot prices. This stability is similar to periods of high accumulation, like late 2020, before Bitcoin broke out above $20,000. Analysts at CryptoQuant suggest that derivatives indicate institutional traders are hedging and insuring their positions, reinforcing market confidence.

有趣的是，衍生品交易似乎正在穩定比特幣，而不是增加其波動性。隨著拋售壓力下降，期貨市場為現貨價格提供方向性支撐。這種穩定性類似於高積累時期，例如 2020 年末，比特幣突破 20,000 美元之前。 CryptoQuant 的分析師表示，衍生品表明機構交易者正在對沖並確保其頭寸，從而增強了市場信心。

Broader Market Confidence

更廣泛的市場信心

The broader crypto market reflects a vote of confidence. Ether is trading above $3,000, and altcoin liquidity has been rising since early October. This environment mirrors the early stages of past bull markets, with macro and on-chain factors aligning favorably. With increased institutional capital flowing into regulated derivatives markets, Bitcoin's stability is further enhanced.

更廣泛的加密市場反映了信任投票。以太坊交易價格高於 3,000 美元，山寨幣流動性自 10 月初以來一直在上升。這種環境反映了過去牛市的早期階段，宏觀因素和鏈上因素都有利。隨著越來越多的機構資本流入受監管的衍生品市場，比特幣的穩定性進一步增強。

Looking Ahead

展望未來

So, what does all this mean? It seems like the crypto market is maturing, with institutional players playing a bigger role. Whether you're a seasoned trader or just dipping your toes in, it's an exciting time to watch how Bitcoin, Ethereum, and other altcoins evolve. Keep an eye on those derivatives, and who knows, maybe we'll all be celebrating new all-time highs soon!

那麼，這一切意味著什麼呢？加密貨幣市場似乎正在成熟，機構參與者發揮著更大的作用。無論您是經驗豐富的交易者還是剛剛嘗試，現在都是觀察比特幣、以太坊和其他山寨幣如何演變的激動人心的時刻。密切關注這些衍生品，誰知道呢，也許我們很快就會慶祝歷史新高！