隨著 Coinbase 溢價差距觸及 2020 年 10 月以來的最高水平，比特幣 (BTC) 面臨市場情緒轉變

比特幣面臨大幅回調，較歷史高點 108,300 美元下跌 15%。此次價格下跌標誌著市場情緒的急劇轉變

Bitcoin price has undergone a significant correction, dropping roughly 15% from its recent all-time high at $108,300. This price decline marks a sharp shift in market sentiment, which has quickly transitioned from an extremely bullish outlook to one of uncertainty and caution. As altcoins experience heavy losses, Bitcoin’s correction has raised concerns about the sustainability of the recent rally.

比特幣價格經歷了大幅調整，較近期歷史高點 108,300 美元下跌約 15%。此次價格下跌標誌著市場情緒的急劇轉變，市場情緒已迅速從極度樂觀的前景轉變為不確定和謹慎的前景。隨著山寨幣遭受重創，比特幣的回檔引發了人們對近期漲勢永續性的擔憂。

Top analyst Maartunn recently highlighted that this correction aligns with the most significant Coinbase selling activity since October 26, when BTC was trading at $66,000. This increase in selling pressure is a clear signal of a shift from a bullish market to one filled with fear and hesitation. The combination of reduced buying activity and rising selling pressure suggests that the market is struggling to maintain its upward momentum.

頂級分析師 Maartunn 最近強調，這項調整與 10 月 26 日以來最重要的 Coinbase 拋售活動一致，當時 BTC 交易價格為 66,000 美元。拋售壓力的增加是一個明確的信號，表明市場從牛市轉向充滿恐懼和猶豫的市場。購買活動減少和拋售壓力上升表明市場正在努力維持上漲勢頭。

As BTC navigates this volatile phase, investors are watching closely to see if the market can stabilize or if further declines are imminent. The next few days could be crucial in determining whether the recent correction marks the beginning of a larger downtrend or if Bitcoin can regain its bullish footing.

隨著比特幣經歷這個動盪的階段，投資者正在密切關注市場是否能夠穩定，或者是否即將進一步下跌。接下來的幾天對於確定最近的調整是否標誌著更大的下跌趨勢的開始，或者比特幣是否可以重新站穩腳跟至關重要。

Bitcoin Sentiment Shifts

比特幣情緒轉變

Market sentiment, a key driver of price action, has shifted rapidly from bullish to fearful, with Bitcoin now testing the $92,000 mark to find support. While the price itself hasn’t experienced an aggressively sharp decline, the broader market is seeing heavy losses, particularly among altcoins. This suggests that the risk of a more significant correction is increasing as market participants scramble to adjust to the change in sentiment.

市場情緒是價格走勢的關鍵驅動因素，已迅速從看漲轉變為恐懼，比特幣目前正在測試 92,000 美元大關以尋求支撐。雖然價格本身並沒有經歷大幅下跌，但更廣泛的市場正在遭受嚴重損失，尤其是山寨幣。這表明，隨著市場參與者爭先恐後地適應情緒變化，出現更大幅度調整的風險正在增加。

CryptoQuant analyst Maartunn highlighted the Bitcoin Coinbase premium gap, showing that selling activity on Coinbase has surged to its highest level since October 26, when BTC was trading at $66,000.

CryptoQuant 分析師 Maartunn 強調了比特幣 Coinbase 溢價差距，表明 Coinbase 上的銷售活動已飆升至 10 月 26 日以來的最高水平，當時 BTC 交易價格為 66,000 美元。

This spike in selling pressure signals that many investors are taking profits or potentially exiting positions as the market sentiment turns negative. The significant selling volume indicates a possible shift from optimism to caution, with the potential for further downside if the market does not regain confidence soon.

拋售壓力的激增表明，隨著市場情緒轉為負面，許多投資者正在獲利了結或可能退出頭寸。大量拋售表明市場可能從樂觀轉向謹慎，如果市場不能很快恢復信心，則可能進一步下跌。

Despite this, the outlook remains uncertain. Many analysts believe BTC still has room to rise, with some suggesting that recent price action may not necessarily indicate that the top has reached. The market is caught in a delicate balance as the price approaches critical support levels, and the next few days could be crucial in determining whether Bitcoin can bounce back or if further correction is in store.

儘管如此，前景仍然不確定。許多分析師認為，比特幣仍有上漲空間，一些分析師認為，最近的價格走勢可能不一定表明已經達到頂部。隨著價格接近關鍵支撐位，市場陷入微妙的平衡，未來幾天對於決定比特幣是否可以反彈或是否會進一步調整至關重要。

Price Action Challenging Bullish Structure

價格走勢挑戰看漲結構

Bitcoin is currently trading at $92,200, a critical level that must hold for bulls to maintain control over the price action. This level represents key support, and the price structure remains strong above it, suggesting that the recent retrace could merely be a shakeout rather than the start of a trend shift. If BTC can close above this mark in the coming days, there’s a strong chance for recovery, as it would confirm that the bulls are still in control.

比特幣目前的交易價格為 92,200 美元，這是多頭必須守住的關鍵水平，才​​能保持對價格走勢的控制。該水平代表了關鍵支撐位，價格結構在該水平上方仍然強勁，表明近期的回調可能只是震盪，而不是趨勢轉變的開始。如果比特幣在未來幾天能夠收於該水平之上，那麼復甦的機會很大，因為這將證實多頭仍然處於控制之中。

However, if Bitcoin fails to hold above $92,200 and loses this level, the situation will become more dire. A breakdown below this support could trigger a cascade of selling, taking Bitcoin to lower prices and potentially signaling the start of a deeper correction.

然而，如果比特幣未能守住92,200美元上方並失去這一水平，情況將變得更加可怕。跌破這一支撐位可能會引發一連串拋售，導致比特幣價格走低，並可能預示著更深層調整的開始。

Related Reading: The Bitcoin Cycle Top ‘Could Hit In October 2025’ – Analyst Explains Why

相關閱讀：比特幣週期頂部「可能在 2025 年 10 月觸及」—分析師解釋原因

The next few days are crucial in determining Bitcoin’s direction, as holding this level would help preserve the bullish momentum while losing it could set the stage for a more significant pullback. For now, traders and investors are closely watching how BTC reacts to this critical support level to gauge the market’s next move.

接下來的幾天對於確定比特幣的方向至關重要，因為保持這一水平將有助於保持看漲勢頭，而失去這一水平可能會為更大幅度的回調奠定基礎。目前，交易員和投資者正在密切關注比特幣對此關鍵支撐位的反應，以判斷市場的下一步趨勢。