隨著比特幣與關鍵移動平均線的較量，MicroStrategy 飆升至 6 個月高點

NEAR、UNI 和 APT 引領加密貨幣上漲，而比特幣在當天早些時候突破 64,000 美元後回落。

Bitcoin (BTC) price action slipped to $62,800 from near $64,000 within an hour on Monday, along with an abrupt nosedive in the stock market. The quick volatility burst happened without any immediately apparent reasons.

週一，比特幣 (BTC) 價格在一小時內從近 64,000 美元下滑至 62,800 美元，股市也急劇暴跌。波動的快速爆發並沒有任何明顯的原因。

BTC price recently changed hands at $63,300, up 0.7% over the past 24 hours, but down nearly 2% from its daily high of $64,400. The broad-based CoinDesk 20 Index gained 0.3% over the same time period.

BTC價格最近易手為63,300美元，過去24小時上漲0.7%，但較日高64,400美元下跌近2%。基礎廣泛的 CoinDesk 20 指數同期上漲 0.3%。

Ether (ETH) underperformed with minor losses, while tokens of Near Protocol (NEAR), Uniswap (UNI) and Aptos (APT) showed relative strength with 5%-8% advances.

以太坊 (ETH) 表現不佳，出現小幅下跌，而近協議 (NEAR)、Uniswap (UNI) 和 Aptos (APT) 的代幣表現相對強勁，上漲 5%-8%。

Rollercoaster in Prices Hit Bulls and Bears Alike

價格的雲霄飛車對牛市和熊市都有影響

Over $210 million worth of leveraged derivatives trading positions were liquidated across all digital assets, CoinGlass data shows. Some $110 million of liquidations were longs betting on higher prices, while $105 million worth of positions were shorts anticipating price weakness.

CoinGlass 數據顯示，所有數位資產中價值超過 2.1 億美元的槓桿衍生性商品交易部位被清算。大約 1.1 億美元的清算是押注價格上漲的多頭，而價值 1.05 億美元的頭寸是預計價格疲軟的空頭。

What may have helped cryptocurrencies to recover quicker versus the stock market is that a U.S. judge approved FTX's bankruptcy plan, opening the way to repay creditors of the imploded crypto exchange.

與股市相比，加密貨幣更快復甦的原因可能是美國法官批准了 FTX 的破產計劃，為償還內爆的加密貨幣交易所的債權人開闢了道路。

Still, Monday's price action meant that BTC briefly reclaimed the 200-day moving average, which currently sits at $63,575 per TradingView data, but ultimately failed to hold above it. Moving and holding past that key level would reaffirm bitcoin's uptrend since the lows of around $52,000 hit in the first week in September.

儘管如此，週一的價格走勢意味著 BTC 短暫收復了 200 日移動均線，根據 TradingView 數據，該均線目前位於 63,575 美元，但最終未能守住該均線。突破並守住這一關鍵水平將重申比特幣自 9 月第一周觸及 52,000 美元左右低點以來的上漲趨勢。

Digital asset investment product issuer ETC Group – recently acquired by Bitwise – noted that bitcoin's rise over the past few days coincided with increasing odds of Donald Trump winning the U.S. presidential election in November. Bettors on blockchain-based prediction marketplace Polymarket see 53.5% odds for a Trump win versus Kamala Harris, up from equal chances on Friday.

最近被 Bitwise 收購的數位資產投資產品發行商 ETC Group 指出，過去幾天比特幣的上漲恰逢唐納德·川普贏得 11 月美國總統大選的可能性增加。基於區塊鏈的預測市場 Polymarket 的投注者認為，川普對卡馬拉·哈里斯的賠率為 53.5%，高於週五的同等賠率。

MSTR Is Overvalued vs. BTC, but Could Rally More

MSTR 相對於 BTC 被高估，但可能會進一步反彈

MicroStrategy (MSTR) was a notable outlier amid a weak stock market, with shares surging to $190 for the first time since late March and closing the day 5.5% higher. The company is the largest public corporate owner of bitcoin, holding nearly $16 billion of the asset.

在股市疲軟的情況下，MicroStrategy (MSTR) 是一個值得注意的異常，其股價自 3 月底以來首次飆升至 190 美元，收盤上漲 5.5%。該公司是比特幣最大的上市公司所有者，持有近 160 億美元的資產。

Markus Thielen, founder of 10x Research, noted in a report before Monday market open that a breakout above the $180 price level could beget more strength, even though his regression analysis showed the stock was already 44% overvalued versus BTC.

10x Research 創辦人 Markus Thielen 在周一開盤前的一份報告中指出，突破 180 美元價格水平可能會帶來更多力量，儘管他的回歸分析顯示該股相對於 BTC 已經被高估了 44%。

"Market makers may be forced to hedge their short gamma exposure as they likely sold calls to retail investors), and hedge funds holding $4.6 billion in short positions on MicroStrategy shares could face pressure to cover those shorts if the price surpasses the $180 mark," Thielen wrote.

「做市商可能被迫對沖其空頭伽瑪風險，因為他們可能向散戶投資者出售看漲期權），如果價格超過180 美元大關，持有46 億美元MicroStrategy 股票空頭頭寸的對沖基金可能面臨回補這些空頭部位的壓力。

The rally could induce MicroStrategy to raise even more debt for acquiring bitcoin, as demand for the company's notes have been strong with consistently upsizing the issuance, Thielen said in the report.

蒂倫在報告中表示，此次上漲可能會促使 MicroStrategy 籌集更多債務來收購比特幣，因為對該公司票據的需求一直強勁，並且不斷擴大發行規模。

"Raising even more debt to purchase bitcoin seems logical," he wrote. "A breakout in MicroStrategy’s stock could have a 'tail wags the dog' effect, where the momentum in its shares positively impacts Bitcoin’s price, creating a feedback loop."

「籌集更多債務來購買比特幣似乎是合乎邏輯的，」他寫道。 “MicroStrategy 股票的突破可能會產生‘尾巴搖狗’效應，即其股票的勢頭對比特幣的價格產生積極影響，從而形成反饋循環。”