随着比特币与关键移动平均线的较量，MicroStrategy 飙升至 6 个月高点

NEAR、UNI 和 APT 引领加密货币上涨，而比特币在当天早些时候突破 64,000 美元后回落。

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.

周一，比特币 (BTC) 价格在一小时内从近 64,000 美元下滑至 62,800 美元，股市也急剧暴跌。波动的快速爆发并没有任何明显的原因。

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价格最近易手为63,300美元，过去24小时上涨0.7%，但较日高64,400美元下跌近2%。基础广泛的 CoinDesk 20 指数同期上涨 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) 表现不佳，出现小幅下跌，而近协议 (NEAR)、Uniswap (UNI) 和 Aptos (APT) 的代币表现相对强劲，上涨 5%-8%。

Rollercoaster in Prices Hit Bulls and Bears Alike

价格的过山车对牛市和熊市都有影响

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 数据显示，所有数字资产中价值超过 2.1 亿美元的杠杆衍生品交易头寸被清算。大约 1.1 亿美元的清算是押注价格上涨的多头，而价值 1.05 亿美元的头寸是预计价格疲软的空头。

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.

与股市相比，加密货币更快复苏的原因可能是美国法官批准了 FTX 的破产计划，为偿还内爆的加密货币交易所的债权人开辟了道路。

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.

尽管如此，周一的价格走势意味着 BTC 短暂收复了 200 日移动均线，根据 TradingView 数据，该均线目前位于 63,575 美元，但最终未能守住该均线。突破并守住这一关键水平将重申比特币自 9 月第一周触及 52,000 美元左右低点以来的上涨趋势。

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 收购的数字资产投资产品发行商 ETC Group 指出，过去几天比特币的上涨恰逢唐纳德·特朗普赢得 11 月份美国总统大选的可能性增加。基于区块链的预测市场 Polymarket 的投注者认为，特朗普战胜卡马拉·哈里斯的赔率为 53.5%，高于周五的同等赔率。

MSTR Is Overvalued vs. BTC, but Could Rally More

MSTR 相对于 BTC 被高估，但可能会进一步反弹

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.

在股市疲软的情况下，MicroStrategy (MSTR) 是一个值得注意的异常，其股价自 3 月底以来首次飙升至 190 美元，收盘上涨 5.5%。该公司是比特币最大的上市公司所有者，持有近 160 亿美元的资产。

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 创始人 Markus Thielen 在周一开盘前的一份报告中指出，突破 180 美元价格水平可能会带来更多力量，尽管他的回归分析显示该股相对于 BTC 已经被高估了 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.

“做市商可能被迫对冲其空头伽玛风险，因为他们可能向散户投资者出售看涨期权），如果价格超过 180 美元大关，持有 46 亿美元 MicroStrategy 股票空头头寸的对冲基金可能面临回补这些空头头寸的压力。”蒂伦写道。

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.

蒂伦在报告中表示，此次上涨可能会促使 MicroStrategy 筹集更多债务来收购比特币，因为对该公司票据的需求一直强劲，并且不断扩大发行规模。

"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."

“筹集更多债务来购买比特币似乎是合乎逻辑的，”他写道。 “MicroStrategy 股票的突破可能会产生‘尾巴摇狗’效应，即其股票的势头对比特币的价格产生积极影响，从而形成反馈循环。”