比特幣 (BTC) 盤整至 10 萬美元以下，所有人都在關注歷史性突破的邊緣

比特幣 (BTC) 正處於歷史性突破的邊緣，在備受期待的 10 萬美元大關下方盤整。

Bitcoin is consolidating just below the highly anticipated $100K mark after surging over 8% since the start of the year. As the leading cryptocurrency inches closer to a historic breakout, all eyes are on BTC for confirmation of its next big move.

自今年年初以來，比特幣飆升了 8% 以上，目前正在略低於備受期待的 10 萬美元大關。隨著領先的加密貨幣越來越接近歷史性突破，所有人的目光都集中在比特幣上，以確認其下一步的重大舉措。

Related Reading: Bitcoin Bull Cycle Looks Strong Despite Failure To Break Above $100K – Here’s Why

相關閱讀：儘管未能突破 10 萬美元，但比特幣牛市週期看起來很強勁 – 這就是原因

90% Of Total Bitcoin Supply Is Now In Profit: Key Metric Highlights BTC Strength

比特幣總供應量的 90% 現已獲利：關鍵指標凸顯 BTC 實力

Top analyst Axel Adler recently shared some insightful data on X, revealing that 90% of the total Bitcoin supply is currently in profit. This key metric highlights the strength of BTC’s recent rally and underscores the widespread optimism in the market.

頂級分析師 Axel Adler 最近分享了有關 X 的一些富有洞察力的數據，顯示比特幣總供應量的 90% 目前處於盈利狀態。這項關鍵指標凸顯了比特幣近期反彈的力度，並凸顯了市場普遍的樂觀情緒。

Adler notes that such high levels of profitability typically align with bullish market conditions, fueling expectations for a breakout above $100K. A decisive move above this level could signal the start of a new phase in BTC’s bull cycle, inviting fresh capital and sparking renewed enthusiasm across the crypto space.

Adler 指出，如此高的獲利水平通常與看漲的市場狀況相符，從而激發了突破 10 萬美元的預期。突破這一水平的決定性舉措可能標誌著比特幣牛市週期新階段的開始，吸引新的資本並激發整個加密貨幣領域的新熱情。

However, as the price consolidates, investors are cautiously awaiting confirmation of the next move. While the technicals and fundamentals point to a bullish breakout, anything can happen in the unpredictable world of cryptocurrency.

然而，隨著價格盤整，投資人正在謹慎等待下一步走勢的確認。雖然技術和基本面都表明看漲突破，但在不可預測的加密貨幣世界中任何事情都可能發生。

Bitcoin Bull Cycle Looking Strong

比特幣牛市週期看起來很強勁

Despite the uncertainty and negative sentiment surrounding Bitcoin’s failure to break above the $100K mark, the current market cycle remains robust and bullish. BTC continues to hold key demand levels, reinforcing its bullish structure.

儘管圍繞比特幣未能突破 10 萬美元大關存在不確定性和負面情緒，但當前的市場週期仍然強勁且看漲。比特幣持續保持關鍵需求水平，強化其看漲結構。

Moreover, sideways consolidations, often misunderstood as stagnation, are critical for setting up large-scale moves, allowing the market to build momentum.

此外，橫盤整理（通常被誤解為停滯）對於建立大規模走勢至關重要，從而讓市場建立動力。

Adler shared some insightful data, highlighting the market’s resilience. Currently, 90% of the total Bitcoin supply is in profit, a strong indicator of market health. According to Adler, if the current cycle avoids “black swan” events—unpredictable and disruptive occurrences—the market could follow a trajectory similar to the 2017 bull cycle.

阿德勒分享了一些富有洞察力的數據，強調了市場的彈性。目前，比特幣總供應量的 90% 處於獲利狀態，這是市場健康狀況的強大指標。 Adler 認為，如果當前週期避免「黑天鵝」事件（不可預測且具有破壞性的事件），市場可能會遵循類似於 2017 年牛市週期的軌跡。

During that period (depicted as “blue square #1”), Bitcoin demonstrated a bullish trend with minimal pullbacks, maintaining a metric level of 80%. Adler also reflected on the 2021 cycle (blue square #2), suggesting it could have followed the same bullish path if not for the disruptive effects of the China mining ban. This event momentarily derailed the upward trend, emphasizing how external shocks can influence market dynamics.

在此期間（描述為「藍色方塊#1」），比特幣表現出看漲趨勢，回調最小，維持 80% 的指標水準。阿德勒也反思了 2021 年周期（藍色方框#2），表示如果不是中國採礦禁令的破壞性影響，它可能會走同樣的看漲路線。這起事件暫時擾亂了上漲趨勢，凸顯了外部衝擊如何影響市場動態。

As Bitcoin consolidates below $100K, its current pattern reflects a healthy cycle poised for further growth. Investors are closely watching for a breakout above this psychological barrier, which could signal the start of the next bullish phase. With strong fundamentals and minimal disruptions, Bitcoin’s path forward looks increasingly promising.

隨著比特幣在 10 萬美元以下盤整，其當前模式反映出一個有望進一步增長的健康週期。投資者正在密切關注突破這一心理障礙，這可能標誌著下一個看漲階段的開始。憑藉著強勁的基本面和最小的干擾，比特幣的前景看起來越來越光明。

Technical Analysis: Key Liquidity Levels

技術分析：關鍵流動性水平

BTC/USD 4-hour chart showing price action around key demand at $98K.

BTC/USD 4 小時圖表顯示圍繞 98,000 美元關鍵需求的價格走勢。

Bitcoin is trading at $99,100 after a robust rebound from the 4-hour 200 moving average at $98,299. The price also found support at the 4-hour 200 EMA, a key technical indicator that signals strength in the short term. This bounce has left investors optimistic about the potential for a bullish continuation in the coming days.

比特幣從 4 小時 200 移動均線 98,299 美元強勁反彈後，目前交易價格為 99,100 美元。價格還在 4 小時 200 EMA 處找到支撐，這是顯示短期強勢的關鍵技術指標。這次反彈讓投資人對未來幾天繼續看漲的潛力感到樂觀。

On the 4-hour price chart above, we can also observe several crucial liquidity levels that could influence BTC’s near-term price action. A confirmed breakout past $100K will open up massive buy-side liquidity, contributing to a strong bullish momentum.

在上面的 4 小時價格圖表中，我們還可以觀察到幾個可能影響 BTC 近期價格趨勢的關鍵流動性水準。若確認突破 10 萬美元，將為買方帶來大量流動性，帶來強勁的看漲勢頭。

On the other hand, if BTC fails to reclaim $100K in the near term, the market may enter a prolonged consolidation phase, testing investor patience and allowing for liquidity to accumulate. A failure to maintain the current bullish structure could also lead to a deeper correction, potentially revisiting lower support levels.

另一方面，如果BTC短期內未能重回10萬美元，市場可能會進入長期盤整階段，考驗投資者的耐心並允許流動性累積。如果未能維持目前的看漲結構，也可能導致更深層的調整，可能會重新審視較低的支撐位。

Featured image from Dall-E, chart from TradingView

精選圖片來自 Dall-E，圖表來自 TradingView