比特幣（$BTC）價格分析：強勁的價格走勢將持續，還是已接近頂部？

比特幣（$BTC）繼續升至新高。週二，全球首屈一指的加密貨幣價格止步於 94,000 美元附近，再創歷史新高。

Bitcoin price analysis: BTC buying frenzy continues, but where’s the retail?

比特幣價格分析：比特幣購買狂潮仍在繼續，但散戶在哪裡？

Bitcoin price action hit another record high on Tuesday, stopping just short of $94,000. But is this buying set to continue, or is a top approaching?

週二，比特幣價格走勢再創新高，止於 94,000 美元附近。但這種買盤是否會持續下去，或者是否已接近頂部？

Bitcoin price action hit another record high on Tuesday, stopping just short of $94,000. Is this buoyant price action set to continue, or is a top approaching?

週二，比特幣價格走勢再創新高，止於 94,000 美元附近。這種強勁的價格走勢會持續下去，還是即將見頂？

Buying frenzy continues

搶購狂潮仍在持續

At least as far as purchases of BTC go, things are extremely positive for those holding Bitcoin. Heavy buying has taken place over the last few days, and this looks as though it will continue.

至少就購買比特幣而言，對於那些持有比特幣的人來說，情況是非常積極的。過去幾天出現了大量購買，而且這種情況似乎還會繼續。

Michael Saylor’s MicroStrategy has bought almost 78,000 BTC, in two tranches, in less than two weeks. No sooner had MicroStrategy made the second purchase, the company announced that it was making a $1.75 billion debt offering with which to buy more.

Michael Saylor 的 MicroStrategy 在不到兩週的時間內分兩批購買了近 78,000 BTC。 MicroStrategy 進行第二次收購後不久，該公司就宣布將發行 17.5 億美元的債券，以用於購買更多產品。

The idiom “it never rains but it pours” could be used to describe the frenzy of buying that is now taking place for the scarcest major asset in the world.

「從來不下雨，但傾盆大雨」這句成語可以用來形容現在對世界上最稀缺的主要資產的瘋狂購買。

If just one company can buy up the equivalent of almost 6 months of Bitcoin issuance in the space of a couple of weeks, it has to be wondered what will be the state of affairs for the availability of Bitcoin into the next few months?

如果只有一家公司可以在幾週內購買相當於近 6 個月發行量的比特幣，那麼人們不禁想知道未來幾個月比特幣的可用性會如何？

It can only be imagined the feeding frenzy that could take place if Senator Lummis is able to get the U.S. Bitcoin Strategic Reserve legislation through a republican dominated Congress and Senate.

可以想像，如果盧米斯參議員能夠通過共和黨主導的國會和參議院通過美國比特幣戰略儲備立法，那麼可能會出現瘋狂的情況。

Retail no longer the buying force it was for Bitcoin

零售業不再是比特幣的購買力

One perhaps sad aspect in all this positive news, is that this buying is being carried out in the vast majority by institutions. Many retail buyers and holders have been flushed out of the market, and future buying is predicted to be on behalf of company treasuries, pension funds, hedge funds, family offices, etc, etc.

在所有這些積極消息中，一個也許令人悲傷的方面是，這種購買絕大多數是由機構進行的。許多散戶買家和持有者已被擠出市場，預計未來的購買將來自公司財務、退休基金、對沖基金、家族辦公室等。

When Satoshi Nakamoto set the Bitcoin wheels in motion, he was certainly thinking that his invention was more to throw a lifeline to those poor individuals being ground down by the banking system, than huge multinational companies and their like.

當中本聰啟動比特幣時，他肯定認為他的發明更多的是為那些被銀行系統壓垮的窮人提供生命線，而不是大型跨國公司等。

Next BTC breakout could be soon

比特幣的下一個突破可能很快就會到來

The short-term chart for Bitcoin shows that price action could be tracking within an ascending triangle. However, with the price action still continuing to develop, the position of the upper trendline is still not certain.

比特幣的短期圖表顯示，價格走勢可能會在上升三角形內追蹤。然而，隨著價格走勢仍在持續發展，上方趨勢線的位置仍不確定。

What is known though, is that if the pattern is an ascending triangle, BTC does not usually carry on to the end of the triangle, and instead, is likely to break out before this, meaning that the breakout could take place very soon.

但眾所周知的是，如果形態是上升三角形，那麼 BTC 通常不會持續到三角形的末端，相反，很可能會在此之前突破，這意味著突破可能很快就會發生。

Could the bull market end early in 2025?

牛市能否在2025年提早結束？

The big picture for Bitcoin can be found on the 2-month chart. This shows the current huge candle body that is still growing, and has until the end of December before it is complete.

比特幣的整體情況可以在兩個月圖表上找到。這表明當前巨大的蠟燭體仍在增長，並且要到 12 月底才會完成。

That said, below this price action is the Stochastic RSI. This indicates that momentum is still in Bitcoin’s favour. However, the indicator lines are at the top, and they will cross down at some point. If one goes back to the 2017 bull market, it can be seen that the indicator lines stayed at the top for five successive candles, which is the equivalent of 10 months. If the current bull market matches this, there could be one more 2-month candle left in the tank. This could mean that the bull market ends early in 2025. Where could the BTC price get to by then? Or could there even be a double top as in the 2021 bull market?

也就是說，低於該價格走勢的是隨機 RSI。這表明勢頭仍然有利於比特幣。然而，指標線位於頂部，它們會在某個點向下交叉。如果回到2017年的多頭市場，可以看到指標線連續5根蠟燭停留在頂部，相當於10個月。如果目前的牛市與此相符，那麼罐子裡可能還剩下一根兩個月的蠟燭。這可能意味著多頭市場將在 2025 年提前結束。或者是否會出現像 2021 年牛市那樣的雙頂？

The Relative Strength Index at the bottom of the chart is showing that BTC is now overbought. The indicator line could top out when it meets the descending trendline. Or, if the buying is frantic enough, the line could even penetrate the trendline and continue higher.

圖表底部的相對強度指數顯示 BTC 目前已超買。當指標線與下降趨勢線相遇時，可能會見頂。或者，如果買盤足夠瘋狂，該線甚至可能穿透趨勢線並繼續走高。

Interesting times are ahead.

有趣的時刻即將到來。