由於聯準會降息路徑緩慢和供應增加，比特幣（BTC）市場預計中期將出現波動：Coinbase

Coinbase 分析師警告稱，比特幣 (BTC) 中期內可能會出現市場波動。分析師 David Duong 和 David Han 在每週評論中提到了聯準會緩慢的降息路徑以及市場上比特幣供應的增加。

Coinbase analysts have warned that Bitcoin (BTC) may encounter market choppiness in the medium term due to several factors.

Coinbase 分析師警告稱，由於多種因素，比特幣（BTC）可能在中期內遭遇市場波動。

According to the analysts, the slower pace of Federal Reserve rate cuts and the increasing supply of BTC in the market could limit strong upside momentum on the charts.

分析師表示，聯準會降息步伐放緩以及市場上比特幣供應量的增加可能會限制圖表上強勁的上行勢頭。

The recent U.S. economic data showed sticky inflation and strong labor markets, reducing expectations of more Fed rate cuts. Traders are now pricing the Fed to keep the rate unchanged at 4.25%-4.50% for the next FOMC meeting at the end of January.

近期美國經濟數據顯示通膨黏性和勞動市場強勁，降低了聯準會進一步降息的預期。交易員目前預計聯準會將在 1 月底舉行的下一次 FOMC 會議上將利率維持在 4.25%-4.50% 不變。

The analysis also highlighted a surge in BTC sell pressure, with a large amount of BTC being liquidated by long-term holders (LTH) in the $100k price zone. This LTH supply pressure could constrict BTC into a price range.

該分析還強調了 BTC 拋售壓力的激增，大量 BTC 被 10 萬美元價格區域的長期持有者 (LTH) 清算。這種 LTH 供應壓力可能會將 BTC 限制在一個價格範圍內。

"These supply-side dynamics suggest there could be a period of grinding consolidation for bitcoin in the coming months," the analysts said, adding that this is similar to the on-chain signals observed when BTC breached all-time highs in March 2024.

分析師表示：「這些供應方動態表明，未來幾個月比特幣可能會經歷一段艱難的盤整期。」他補充說，這與2024 年3 月BTC 突破歷史高點時觀察到的鏈上訊號類似。

Despite the analysis, BTC managed to sweep the range lows and bounce, but the recovery stalled at $95k, reinforcing the $90k-$100k consolidation range mentioned by the analysts.

儘管有這樣的分析，比特幣還是成功掃過了區間低點並反彈，但復甦停滯在 9.5 萬美元，強化了分析師提到的 9 萬美元至 10 萬美元的盤整區間。