比特幣減半將近，加密鯨魚保持穩定，引發市場不安

隨著第四次比特幣減半的臨近，儘管加密貨幣總市值下降了 2.4% 至 2.36 兆美元，但加密鯨魚仍繼續捍衛比特幣 6.1 萬美元的支撐位。儘管摩根大通分析師預測比特幣會出現短期疲軟，但鏈上數據分析顯示，加密鯨魚已經累積了價值超過 17 億美元的比特幣。

Crypto Whales Hold the Line as Bitcoin's Halving Approaches, Triggering Market Jitters

隨著比特幣減半接近，加密鯨魚堅守陣地，引發市場不安

In the lead-up to the highly anticipated Bitcoin (BTC) halving in 2024, the cryptocurrency market has experienced a period of uncertainty, with the total market cap shrinking by 2.4 percent in the past 24 hours to approximately $2.36 trillion. However, despite the market volatility, crypto whales have remained steadfast, accumulating over $1.7 billion worth of Bitcoin in recent days. This unwavering support suggests that long-term investors remain bullish on the asset's long-term prospects.

在備受期待的 2024 年比特幣減半之前，加密貨幣市場經歷了一段不確定時期，總市值在過去 24 小時內縮水 2.4% 至約 2.36 兆美元。然而，儘管市場波動，加密鯨魚仍然堅定不移，最近幾天積累了價值超過 17 億美元的比特幣。這種堅定不移的支持表明長期投資者仍然看好該資產的長期前景。

JPMorgan Analysts Sound Caution on Short-Term Weakness Post-Halving

摩根大通分析師對減半後的短期疲軟持謹慎態度

In a note to investors, JPMorgan Chase & Co. (NYSE: JPM) analysts have cautioned that Bitcoin's price could trigger a crypto market downturn following the halving, citing overbought conditions based on the analysis of Open Interest in BTC futures. They believe that the reduction in Bitcoin supply, coupled with the heightened interest from institutional investors, could lead to a sell-off.

摩根大通（NYSE：JPM）分析師在給投資者的報告中警告說，比特幣價格可能會在減半後引發加密貨幣市場低迷，理由是基於對比特幣期貨未平倉合約分析的超買情況。他們認為，比特幣供應量的減少，加上機構投資者興趣的增加，可能會導致拋售。

On-Chain Data Reveals Long-Term Investor Confidence

鏈上數據揭示了長期投資者的信心

Despite the short-term concerns raised by JPMorgan, on-chain data provided by CryptoQuant paints a more optimistic picture. According to their analysis, crypto whales have accumulated over 27,700 Bitcoins in recent days, indicating a strong belief in Bitcoin's long-term value. This accumulation trend suggests that long-term investors are undeterred by short-term market fluctuations and remain committed to holding their positions.

儘管摩根大通提出了短期擔憂，但 CryptoQuant 提供的鏈上數據描繪了一幅更樂觀的景象。根據他們的分析，加密鯨魚最近幾天已經累積了超過 27,700 個比特幣，這表明他們對比特幣的長期價值抱有堅定的信念。這種累積趨勢表明，長期投資者不會被短期市場波動嚇倒，並繼續堅持持有部位。

Bitcoin's Post-Halving Bullish Outlook

比特幣減半後的看漲前景

Historically, Bitcoin halving events have had a significant impact on the price of the cryptocurrency, leading to bull markets and increased adoption. The upcoming halving, which will reduce the daily Bitcoin supply from 900 to 450 coins, is expected to further fuel the demand for the asset. Institutional investors, in particular, have shown a growing interest in Bitcoin, viewing it as a hedge against inflation and a potential long-term store of value.

從歷史上看，比特幣減半事件對加密貨幣的價格產生了重大影響，導致牛市和更多的採用。即將到來的減半將使每日比特幣供應量從 900 個減少至 450 個，預計將進一步刺激對該資產的需求。尤其是機構投資者對比特幣表現出越來越大的興趣，將其視為通膨對沖工具和潛在的長期價值儲存手段。

Hong Kong and US ETF Approvals Boost Buying Pressure

香港及美國ETF核准增加購買壓力

The recent approval of spot Bitcoin and Ethereum ETFs in Hong Kong is expected to further increase the buying pressure on Bitcoin. Additionally, the success of spot Bitcoin ETFs in the United States has already demonstrated the significant demand for these instruments, which allow investors to gain exposure to Bitcoin without the complexities of owning and storing the cryptocurrency directly.

最近香港批准現貨比特幣和以太坊ETF，預計將進一步增加比特幣的購買壓力。此外，現貨比特幣 ETF 在美國的成功已經證明了對這些工具的巨大需求，這些工具使投資者能夠獲得比特幣的投資，而無需直接擁有和儲存加密貨幣的複雜性。

Bitcoin Price Action: Consolidation and Support Levels

比特幣價格走勢：盤整與支撐位

Bitcoin's price has retested the $61,000 support level several times in recent weeks, indicating that this level remains crucial for the short-term price action. A break below this support could trigger a correction towards the next major support level of around $56,200, while a rebound could lead to a rally towards a new all-time high.

最近幾週，比特幣的價格多次重新測試 61,000 美元的支撐位，表明該水平對於短期價格走勢仍然至關重要。跌破該支撐位可能會引發向下一個主要支撐位約 56,200 美元的修正，而反彈則可能導致反彈至新的歷史高點。

Traders Seek Refuge in Stablecoins Amid Market Volatility

在市場波動中，交易者尋求穩定幣的庇護

As the crypto market continues to experience volatility, many traders have sought refuge in the stablecoins sector. Stablecoins, such as Tether (USDT) and USD Coin (USDC), have a daily average trading volume of approximately $88.5 billion, accounting for a significant portion of the total industry trading volume. This flight to safety reflects the current uncertainty in the market and the need for investors to preserve capital.

隨著加密貨幣市場持續波動，許多交易者紛紛轉向穩定幣領域尋求庇護。 Tether（USDT）和USD Coin（USDC）等穩定幣日均交易量約為885億美元，佔該行業總交易量的很大一部分。這種避險行為反映了當前市場的不確定性以及投資者保存資本的需要。

Market Sentiments Shift from Bullish to Bearish

市場情緒從看漲轉向看跌

According to market intelligence platform Santiment, crypto traders have shifted from a bullish narrative to bearish sentiments. The decline in FOMO (fear of missing out) combined with an increase in FUD (fear, uncertainty, and doubt) suggests that investors are becoming more cautious and apprehensive about the market's short-term prospects. However, Santiment notes that this shift in sentiment could be a positive indicator, signaling an imminent market correction and potential recovery.

根據市場情報平台 Santiment 的數據，加密貨幣交易者的情緒已從看漲轉向看跌。 FOMO（害怕錯過）的下降加上 FUD（恐懼、不確定性和懷疑）的增加表明投資者對市場的短期前景變得更加謹慎和擔憂。然而，桑蒂門特指出，這種情緒的轉變可能是一個積極的指標，預示著市場即將調整和潛在的復甦。

Conclusion

結論

The lead-up to the Bitcoin halving has created a mixed atmosphere in the crypto market, with both optimism and caution prevailing among investors. Crypto whales and long-term investors remain bullish on Bitcoin's long-term potential, while JPMorgan analysts warn of potential short-term weakness. The approval of spot Bitcoin ETFs in Hong Kong and the United States is expected to boost buying pressure, but the current market volatility has led many traders to seek refuge in stablecoins. As the halving approaches, investors will be closely monitoring Bitcoin's price action and the market sentiment to gauge the potential impact of this significant event.

比特幣減半前夕，加密貨幣市場氣氛複雜，投資人既樂觀又謹慎。加密鯨魚和長期投資者仍然看好比特幣的長期潛力，而摩根大通分析師則警告比特幣可能會出現短期疲軟。香港和美國現貨比特幣ETF的批准預計將增加購買壓力，但當前的市場波動導致許多交易者尋求穩定幣的避難。隨著減半的臨近，投資者將密切關注比特幣的價格走勢和市場情緒，以評估這一重大事件的潛在影響。