比特币、以太坊和抛售压力：新时代？

分析比特币、以太坊的动态变化以及加密货币市场抛售压力的消退。机构信心恢复了吗？

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

比特币、以太坊和抛售压力：新时代？

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.

比特币和以太坊正在蓬勃发展。最近的趋势表明抛售压力正在减弱，机构信心重新焕发，可能为新高铺平道路。

Diminishing Selling Pressure in Bitcoin's Derivatives Market

比特币衍生品市场抛售压力减弱

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 最近的链上分析揭示了比特币衍生品市场的重大转变。净接受量（Net Taker Volume）是买卖积极性的指标，显示出从负值到正值的急剧变化，表明抛售压力正在减弱。一位分析师指出，在 2025 年 4 月的调整期间也出现了类似的模式，该调整出现在强劲的看涨趋势之前。这表明机构信心可能正在恢复，有可能推动比特币升至 10 万美元大关。

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.

反映比特币期货市场积极买入和卖出之间不平衡的净接受量在 2025 年 7 月至 10 月期间已从以红色（积极卖出）为主转变为绿色（积极买入）。最新数据显示出现 4 亿美元的积极变化，表明看涨情绪发生重大转变。这种飙升让人想起之前的复苏，当时比特币在短短两个月内从 70,000 美元反弹至 100,000 美元。

Ethereum ETF's Spark Altcoin Interest

以太坊 ETF 引发山寨币兴趣

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 的激增重新激发了人们对山寨币市场的兴趣，交易者将目光投向了 Solana、Polygon 和 XRP 等高潜力资产。以太坊稳定在 4,450 美元上方，随着 ETF 流入的增加，市场正在进入机构采用的新阶段。这种机构兴趣也延伸到了 MAGACOIN FINANCE，这是一个受到关注的新山寨币项目。

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 在其以太坊信托 (ETHE) 和迷你信托 (ETH) 上推出质押奖励的推动，以太坊 ETF 越来越受欢迎。此举对于美国加密 ETF 来说是重要的一步，使投资者能够在保持 ETH 价格波动风险的同时赚取质押收益。这些发展增强了机构对以太坊的信任，将收益机会与受控的基金结构结合起来。

Altcoins in the Spotlight: Solana, Polygon, and XRP

聚光灯下的山寨币：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.

随着投资者回归以太坊和大盘山寨币，Solana、Polygon 和 XRP 已成为领先的多元化选择。由于现货 ETF 可能获得批准的猜测，Solana 交易活跃。 Polygon 正在考虑进行治理改革，以消除代币通胀，从而有可能提高其市场价值。 XRP 维持在 2.80 美元的支撑位，链上数据显示该水平附近有大量代币积累。

The Role of Derivatives in Market Stability

衍生品在市场稳定中的作用

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稳定比特币，而不是增加其波动性。随着抛售压力下降，期货市场为现货价格提供方向性支撑。这种稳定性类似于高积累时期，例如 2020 年末，比特币突破 20,000 美元之前。 CryptoQuant 的分析师表示，衍生品表明机构交易者正在对冲并确保其头寸，从而增强了市场信心。

Broader Market Confidence

更广泛的市场信心

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.

更广泛的加密市场反映了信任投票。以太坊交易价格高于 3,000 美元，山寨币流动性自 10 月初以来一直在上升。这种环境反映了过去牛市的早期阶段，宏观因素和链上因素都有利。随着越来越多的机构资本流入受监管的衍生品市场，比特币的稳定性进一步增强。

Looking Ahead

展望未来

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!

那么，这一切意味着什么呢？加密货币市场似乎正在成熟，机构参与者发挥着更大的作用。无论您是经验丰富的交易者还是刚刚尝试，现在都是观察比特币、以太坊和其他山寨币如何演变的激动人心的时刻。密切关注这些衍生品，谁知道呢，也许我们很快就会庆祝历史新高！