比特幣（BTC）的售價近85,000美元，因為已實現的蓋帽記錄，眼睛在混合信號中$ 86K Break

比特幣（BTC）目前的交易約為85,000美元，在過去24小時內增長了約1％。加密貨幣已經實現

Bitcoin (BTC) is currently trading at around $85,000, showing a modest 1% uptick over the past 24 hours.

比特幣（BTC）目前的交易價格約為85,000美元，在過去24小時內顯示出1％的增長。

On-chain data reveals that the cryptocurrency’s realized market cap has attained a new all-time high, yet technical analysis highlights a cautious “risk-off” sentiment and significant resistance levels that BTC/USD must overcome for sustained upward momentum.

鏈上的數據表明，加密貨幣的實現市值已經達到了新的歷史最高，但技術分析強調了BTC/USD必須克服持續的向上勢頭的謹慎的“風險”情緒和顯著的阻力水平。

Record Realized Cap Meets Slowing Growth

記錄已實現的帽子會減慢增長

Having reached an all-time high of $872 billion, Bitcoin’s realized market capitalization measures each coin at the price it last changed. This success does, however, have a worrying detail: data from Glassnode shows that the monthly growth rate of this indicator has plummeted to just 0.9%.

比特幣實現的市值達到了8.72億美元的歷史高度，以其上次變化的價格來衡量每枚硬幣。但是，這種成功確實有一個令人擔憂的細節：玻璃節的數據表明，該指標的每月增長率下降到僅為0.9％。

This slowing down of growth rate suggests declining capital inflow and shows cautious market mood even with BTC’s quite high value. The lower rate of fresh investment points to perhaps less activity by current holders and fewer new competitors to the market.

增長率的放緩表明資本流入下降，即使BTC的價值很高，也表現出謹慎的市場情緒。新鮮投資的速度較低，可能會減少當前持有人的活動，而在市場上更少的新競爭對手。

Further expressing market uncertainty, Glassnode’s realized profit and loss chart lately exhibited a dramatic 40% drop, suggesting significant profit-taking or loss realization. As the analytics platform notes, this trend “suggests saturation in investor activity and often precedes a consolidation phase as the market searches for a new equilibrium.”

格拉斯諾德（Glassnode）實現的損益表最近進一步表達了市場的不確定性，最近顯示出40％的下降，表明利潤賺錢或虧損實現。正如分析平台所指出的那樣，這種趨勢“暗示了投資者活動的飽和，並且在市場尋找新的均衡時通常是在整合階段之前的。”

Short-Term BTC Holders Underwater as $90K Remains Elusive

短期BTC持有人在水下，$ 90K仍然難以捉摸

For recent Bitcoin buyers, current market conditions seem especially difficult. According to data from CryptoQuant, the short-term holder realized price is $91,600—much above the trading range of BTC right now. Should younger investors choose to cut losses, this underwater posture generates possible selling pressure.

對於最近的比特幣買家，當前的市場狀況似乎特別困難。根據CryptoQuant的數據，短期持有人實現的價格為91,600美元，比目前BTC的交易範圍高。如果年輕的投資者選擇減少損失，則這種水下姿勢會產生可能的銷售壓力。

Historically seen as a buy signal, the short-term holder Market Value to Realized Value (MVRV) ratio still falls below 1, thereby verifying that recent investors are in negative territory on their positions.

從歷史上看，短期持有人對已實現價值（MVRV）比率的短期持有人的市場價值仍然低於1，從而驗證了最近的投資者在其職位上處於負面狀態。

Analysts say Bitcoin needs to rise beyond the $85,000 mark shortly if it is to keep its optimistic form. Since April 11, BTC/USD has been swinging tightly between $82,750 and $85,440; significant moving averages support on shorter timescale but act as resistance on daily charts.

分析人士說，如果要保持樂觀的形式，比特幣需要不久就會上升85,000美元。自4月11日以來，BTC/USD的搖擺不定在82,750美元至85,440美元之間；在較短的時間尺度上，大量的移動平均支持在每日圖表上充當阻力。

suggest that the market will shortly “choose a direction.”

建議市場將很快“選擇一個方向”。