比特幣（BTC）遵循“擴音器模式”，將潛在上行勢頭的頂級加密貨幣定位

根據Crypto Trader Merlijn的X帖子，Trader，比特幣（BTC）遵循“ Megaphone模式”，為潛在的上空勢頭的頂級加密貨幣定位。但是，BTC必須保持超過72,000美元的價格水平才能發揮作用。

Crypto trader Merlijn The Trader has pointed out on X that Bitcoin (BTC) is following the ‘megaphone pattern’ which could position the cryptocurrency for upside momentum. However, BTC must stay above the $72,000 price level for the pattern to play out.

Crypto Trader Merlijn交易員在X上指出，比特幣（BTC）正在遵循“超電機模式”，這可以定位加密貨幣的上空動量。但是，BTC必須保持超過72,000美元的價格水平才能發揮作用。

Earlier today, BTC tumbled below the critical $80,000 price level, hitting a low of $78,390 on the Binance cryptocurrency exchange. At the time of writing, the flagship digital asset has a total market cap of $1.57 trillion.

今天早些時候，BTC的價格低於80,000美元的關鍵價格水平，在Binance Cryptocurrency Exchange上跌至78,390美元。在撰寫本文時，旗艦數字資產的總市值為1.57萬億美元。

Despite the recent slump, crypto analysts remain confident in BTC’s long-term bullish outlook. Sharing a monthly trading chart, Merlijn The Trader highlighted that Bitcoin is following the broadening wedge, also known as the megaphone pattern.

儘管最近的低迷，加密分析師仍然對BTC的長期看漲前景充滿信心。交易者梅利恩（Merlijn）共享一個每月的交易圖表，強調比特幣正在遵循擴展的楔形物，也稱為擴音器模式。

For the uninitiated, the megaphone pattern, or broadening wedge, is a technical chart formation where Bitcoin’s price exhibits higher highs and lower lows, creating an expanding shape. This pattern signals increasing volatility and market indecision, typically preceding a strong breakout or breakdown.

對於初學者而言，擴音器模式或寬闊的楔形物是技術圖表的形成，比特幣的價格顯示出更高的高點和較低的低點，從而創造出擴展的形狀。這種模式標誌著增加波動性和市場猶豫不決，通常是在強烈的突破或崩潰之前。

While there is a risk of BTC breaking down from its current range, historical trends suggest that the digital asset is likely to break out to a higher price range. The chart shows how BTC has historically broken to the upside – highlighted in green – from previous market cycle tops, successfully re-tested the breakout, and then entered a parabolic phase.

儘管BTC從目前的範圍中崩潰有風險，但歷史趨勢表明，數字資產可能會爆發到更高的價格範圍。該圖表顯示了BTC歷史上如何從以前的市場週期上衣中突出的上升空間（以綠色突出顯示），成功地重新測試了突破，然後進入了拋物線階段。

The chart also highlights that market cycle tops have typically coincided with an MVRV Z-Score trendline. Currently, the MVRV Z-Score is well below the red trendline, suggesting that BTC may still have room to rise before any significant correction.

該圖表還強調，市場週期頂部通常與MVRV Z分數趨勢線相吻合。目前，MVRV Z得分遠低於紅色趨勢線，這表明BTC在任何重大校正之前可能仍有增加空間。

To explain, the MVRV Z Score for Bitcoin is a metric that compares the market value of BTC to its realized value, helping to identify overbought or oversold conditions. A high MVRV Z-score suggests Bitcoin may be overvalued, while a low score indicates it could be undervalued.

為了解釋，比特幣的MVRV Z得分是一個將BTC的市場價值與其實現價值進行比較，有助於識別過度購買或超賣條件。高MVRV Z分數表明比特幣可能被高估，而低分錶明它可能被低估。

According to the chart, BTC’s current MVRV Z-Score is around 2. In the last three market cycles, this score has typically topped slightly above 4.

根據圖表，BTC當前的MVRV Z分數約為2。在最近三個市場週期中，該分數通常高於4。

BTC Remains In Volatile Territory

BTC仍處於揮發性領域

Despite US President Donald Trump following through on his promises of creating a favorable regulatory environment for cryptocurrencies and establishing a Strategic Bitcoin Reserve (SBR), the digital asset’s price has failed to reflect the positive developments.

儘管美國總統唐納德·特朗普（Donald Trump）遵循了他的承諾，即為加密貨幣創造有利的監管環境並建立了戰略性比特幣儲備（SBR），但數字資產的價格未能反映出積極的發展。

Experts believe that escalating tariff tensions and the possibility of a potential economic recession may be negatively affecting BTC’s price action. Coinbase analysts attribute BTC’s recent slump to the “absence of positive catalysts.”

專家認為，關稅緊張局勢升級和潛在經濟衰退的可能性可能會對BTC的價格行動產生負面影響。 Coinbase分析師將BTC最近的低迷歸因於“沒有陽性催化劑”。

Further, crypto analyst Ali Martinez recently remarked that BTC may face further downside to $75,000 before it finds relief from the ongoing price correction.

此外，加密分析師阿里·馬丁內斯（Ali Martinez）最近表示，BTC可能會進一步面對75,000美元，然後才能緩解持續的價格更正。

At press time, BTC trades at $78,500, down 4.5% in the past 24 hours.

發稿時，BTC的交易價格為78,500美元，在過去24小時內下跌4.5％。